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What are the Advantages and Challenges for United States Food Exporters in Costa Rica 2021

In 2020 Costa Rica was the number 77 economy in the world in terms of GDP (current US$), the number 84 in total exports, the number 87 in total imports, the number 63 economy in terms of GDP per capita (current US$) and the number 53 most complex economy according to the Economic Complexity Index (ECI).<br><br>Advantages for US Food Exporters in Costa Rica<br>1. Costa Rica Export Data Shows- Exports to Costa Rica in the United States increased to 575.19 USD Million in January from 525.18 USD Million in December of 2020.

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What are the Advantages and Challenges for United States Food Exporters in Costa Rica 2021

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  1. What are the Advantages and Challenges forUnited States Food Exporters in Costa Rica2021 “US Import Data & Costa Rica ExportData” In 2020 Costa Rica was the number 77 economy in the world in terms of GDP (current US$), the number 84 in total exports, the number 87 in total imports, the number 63 economy in terms of GDP per capita (current US$) and the number 53 most complex economy according to the Economic Complexity Index(ECI).

  2. Exports: The top exports of Costa Rica are Medical Instruments($3.01B), Bananas ($1.18B), Tropical Fruits ($1.11B), Orthopedic Appliances ($817M), and Other Edible Preparations ($464M), exporting mostly to United States ($4.92B), Netherlands ($745M), Belgium($708M), Guatemala ($632M), and Panama($592M). Imports: The top imports of Costa Rica are Refined Petroleum($1.52B), Broadcasting Equipment ($486M), Cars ($467M), Medical Instruments ($445M), and Packaged Medicaments ($331M), importing mostly from United States ($6.02B), China ($1.88B), Mexico ($1.02B), Guatemala ($428M), and Japan ($306M). Advantages for US Food Exporters in CostaRica Costa Rica government initiated a new on-line product business registration system, which helps to reduce the registration time for new imported products fromU.S. U.S exporters knows U.S. food products are competitive in terms of price and quality. The United States is geographically very close to Costa Rica next to Panama, which gives logistical advantages for marketing and trade.

  3. Costa Rica government are beginning to consume higher quantities of frozen and preparedfoods. Surrounded fellow Central America Countries Panama and Nicaragua,Costa Rica Import Datashows around $16.6 billion worth of products in 2019 and $15.9 billion worth of products in 2017. Its show the Panama andUSA Trade Increasing year byyear. The United States Ministry of Agriculture will build new cold chain facilities in tourist areas to facilitate imports of perishables, machineries, chilled and frozenfoods. Retailers are interested in stocking more U.S. products, including private-labeledgoods. U.S. exporters can supply different types of food volumes according to Panama local demand and maintain reliable supply throughout the year. U.S take the advantages of closingborder A strong tourism sector (residential and traditional) provides opportunities for U.S. exporters and for development. Costa Rica Export DataShows- Exports to Costa Rica in the United States increased to 575.19 USD Million in January from 525.18 USD Million in December of 2020.

  4. Disadvantages for US Food Exportersin CostaRica The Ministry of Health has specific requirements for the wording of Certificates of Free Sale. Failure to meet these requirements slows down productregistration. Local producers are increasing in thesector. Costa Rica’s often slow and cumbersomebureaucracy poses a challenge to doing business in thecountry. Many U.S. exporters are unaware that an Apostille can serve to validate the Certificate of FreeSale. U.S. food exporters are not geared to meet the needs of the “traditional” market (13,000 mom & pop stores), which sell items packaged in small sizes. Low volume shipments of high-value products face additional costs since they must go through freight consolidators in Miami or otherports. Strong competition. U.S. products from the Western United States and the upper Midwest face higher transportation costs relative to alternate suppliers from the rest of CentralAmerica.

  5. Costa Rica Trade Datawith the United States was $959.03 million in January, a change of 2.13 percent from the same month one year ago. The change in exports was -2.64 percent and the change in imports was 10.22 percent. Costa Rica ranked№41 among U.S. trade partners in January. It had ranked №41 forthe same month lastyear. The top three USA Export Databy value in January were Gasoline, other fuels, (2) Cell phones, related equipment, and (3) Medical instruments. The top three U.S. imports from Costa Rica, also by value, were Medical instruments, (2) Bananas and plantains, fresh or dried, and (3) Avocados, dates, figs, pineapples, etc.. By tonnage, the top three U.S. exports were (1) Gasoline, other fuels, (2) Corn, and (3) Soybeans. The top three U.S. imports, also by tonnage, were (1) Bananas and plantains, fresh or dried, (2) Avocados, dates, figs, pineapples, etc., and (3) Cassava, arrowroot, fresh ordry. This article provides you with some valuable insights about how Costa Rica & United States can be beneficial for the growth and expansion of the business. What are the factors that one should consider while assessing import and export data and how it can be used to form business trade policies? In my opinion, USA Trade Datacan be worthwhile for any business looking out from expanding its business and strategic decision making. It can provide some groundwork and a great understanding of the prospective markets and make a business moveaccordingly.

  6. Export trade enables one to understand the trade mechanics, supply chain, market conditions, and market opportunities. India importers data aids one to know the exact trade conditions in the country, the trade policies, goods in demand, supply chain,etc. Investing in trade data of growing countries such as Sri Lanka, Paraguay, Costa Rica, Argentina, etc. can help one to cognize the international demand of local goods and services in themarket, the speculated market size, trade barriers,etc. For More Details:- Add :- A/57, 1st Floor, Om Vihar Phase 1, Uttam Nagar Delhi- 110059,India. Contact No. :- +91–9560057267,+16467571060 Email:-info@usaimportdata.com

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