Overview of the Market

• Politically the most stable country in Central america. Has abolished armed forces.

• Economically dynamic. Compared with its Central American neighbours, has achieved a high standard of living.

• highest literacy rate in Central America with 96 percent. Infant mortality lowest and life expectancy highest in centarl america.

• 99 percent of electricity is generated from renewable sources, including 14 % from geothermal source of volcanoes.

• coffee is the most important crop. The country grows only Arabica highland variety, which commands premium prices.

• Second biggest exporter of bananas.

• sugar cane, coco and cut flowers are other major crops.

• Tourism is an important foreign exchange earner. Over one million tourists visit every year.

• Intel chip factory in San Jose accounts for 25 percent of the GDP of Costa rica. Electronic circuitry accounts for 40 % of the total exports.

• The presence of Intel and the high literacy rate is stimulating the growth of IT sector making Costa Rica as the “ the Silicon Valley of Latin America”.

More info in the blogs on Costa Rica

http://latinamericanaffairs.blogspot.com.ar/2008/09/indian-men-want-to-conquer-silicon.html#links

http://latinamericanaffairs.blogspot.com.ar/2009/05/costa-rica-pura-vida-country.html#links

http://businesswithlatinamerica.blogspot.com.ar/2011/05/havells-sylvanias-business-in-latin.html#links

Business with India

Bilateral Trade (US $ million)   2011 2010 2009 2008 2007 2006 2005   Exports from India   95 107 47 47 32 28 29   Imports by India   14 22 29 15 28 11 8     Principal items of India ’s exports comprise mainly of textiles, tubes, pharmaceuticals, two-wheelers and agro-chemicals .   Principal items of India ’s imports are mainly printed circuits, wood and wood products, leather and hides and oil seeds

Indian elctric car Reva introduced in Costa Rica in march 2009

The Costa Rican government is expected to allow duty free import of this car

 

Costa Rica allows visa -free entry of Indian business visitors again

The new regulation in effect from 23 May 2007. Last year they tried this experiment but closed it. Now the new rule is going to stay. The bz visitors need to have US or Schengen visas. Visitors can stay for 30 days during each visit.

Mittal Buys Costa Rican steel companies

ArcelorMittal had taken control ( february 2008 ) of two Costa Rican steelmakers by buying the half of the companies it did not already own. It had bought a 50 percent stake in Laminadora Costarricense SA, which makes rolled steel, and wiremaker Trefileria Colima SA from Clarion del Norte, part of the Pujol Group. Both serve the construction market in Central America and the Caribbean region. One of the companies that formed ArcelorMittal last year, Arcelor SA, first bought into the companies in 200.

Havells, the Indian lighting and fixtures firm has acquired the assets and business of Sylavania of US in Latin Amwrica worth 200 million dollars. They have three plants in Brasil, Colombia and Costa Rica. The chief of operations of the Americas region Mr Kapil Gulati manages the regional business from Costa Rica.

Indo- Guatemalan Chamber of Commerce

President Mr Guha guamol@intelnett.com