PINEAPPLES AND CHIPS PROPEL COSTA RICAN EXPORT

UNCLAS SAN JOSE 001256 SIPDIS SIPDIS WHA/CEN EB/MTA E.O. 12958: N/A TAGS: ETRD ECON EFIN SUBJECT: PINEAPPLES AND CHIPS PROPEL COSTA RICAN EXPORT GROWTH ¶1. Summary: Costa Rica's export sales for the first quarter of 2006 are up 22% over the previous year. The Ministry of Foreign Trade (COMEX) attributes the growth to increases in sales of pineapples and microprocessors. End Summary. ¶2. Costa Rica's exports for the first quarter of 2006 were valued at $1.965 billion versus $1.615 billion during the same period of 2005. According to COMEX the strong growth is attributable to a 62% increase in pineapple exports and a 39% increase in exports of microprocessors manufactured almost exclusively by Intel. If Intel exports are excluded, first quarter growth in export sales drops from 22% to 18%. ¶3. For the third straight year Costa Rica has experienced strong export sales growth in the first quarter of the year. According to data from Procomer (Promotora del Comercio Exterior) the country's first quarter exports grew $1.529 billion in 2003, to $1.615 billion in 2004, to $1.965 in the current year, an increase of 28%. ¶4. The Ministry indicated that other strong export performers in 2006 are bananas up 23%, pharmaceuticals up 16%, and prepared foods up 8%. Overall exports to the U.S. were up 17%. COMEX stated that businessmen are committed to meeting the national objective to export at least $11 billion in goods by 2010.