The Costa Rican Chamber of Industries had projected growth of between 3.5% and 4%, but recent economic data (IMAE) which showed a slowdown in the economy, have changed the projection to only 2% growth, said Martha Castillo, vice President of the Chamber. On the positive side, the industrial sector stopped laying off workers this year, thereby changing a trend which had been in place since 2009.
"Arnoldo André, president of the Chamber of Commerce, said that optimism and hope faded as the sector moved into 2011. As in the industrial sector, traders had forecast growth of around 4%. Everything changed halfway through the year, when the negative perception of the economic environment took hold. "less dynamism in sales was reported, which was reflected in the Business Activity Index, which is equal to the IMAE. It seemed that companies had stable sales levels. There were good moments, especially for retail", said André", wrote Ramón Gerardo Ruiz for Elfinancierocr.com
Source: elfinancierocr.com
More on this topic
October 2010
57% of Costa Rican industrial companies believe that 2010 will be a year of overall better performance, compared with 2009.
This conclusion by the Chamber of Industries of Costa Rica (ICRC), through the Business Outlook Survey and Rating Factors for Competitiveness in the Costa Rican Industry, which helped assess the strengths and weaknesses facing the sector.
February 2009
The level of consumption in the sector has fallen between 15 and 25%, as a result of the decrease in exports and a smaller local demand.
Elperiodico.com.gt reports: "The most affected industries are food and beverages, maquila, plastics, and construction, including some materials used by that sector, added Ernesto Morales, president of the Federation of Small and Medium Business (Fepyme).
June 2009
WTO and UNEP launch a report explaining for the first time the connections between trade and climate change.
The WTO/UNEP report on “Trade and Climate Change” published today examines the intersections between trade and climate change from four perspectives: the science of climate change; economics; multilateral efforts to tackle climate change; and national climate change policies and their effect on trade.
November 2008
The industrial sector contracted 4% in 2008 and lost 12000 jobs.
Half of the jobs lost have been in the textile sector.
Juan Maria Gonzalez, president of the Costa Rica Chamber of Industry, indicated that the international crisis made the reduction of external demand worse, which result in greater contraction of production and employment in the sector.
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