American Expatriate Costa Rica

Central Bank foresees lower trade deficit

According to data published by the Central Bank, the trade balance of goods accumulated a deficit equivalent to 6.8% of Gross Domestic Product (GDP) in the third quarter of 2016.

This figure is lower than a year earlier, when in the same period the difference between imports and exports recorded an internal deficit equivalent to 7.9% of production.

According to the entity, if this behavior continues, the trade deficit in 2016 would settle at around 9.6% of GDP and current account deficit at 3.5%.

Both levels are lower than those contemplated in the Macroeconomic Program revision (10.5% and 4.2%, respectively).

Despite the smaller deficit, exporters warn that the export target will not be reached this year.

In October this year, the goal of goods export was 76%, about $8,279,000 of a total of $10,800 million.

crhoy.com