Article by Central America Data with insights from La Nacion.

The international crisis and exchange rate fluctuations caused the agriculture sector to export 7% less during the first seven months of 2013, when compared to the same period of 2012.

The Costa Rican agricultural sector is not experiencing good times. Nacion.com reports: “According to the monthly index of economic activity (MIEA), the agricultural sector has registered a decline since August 2012, when it grew by 4.46%. In all of the subsequent months it dropped, reaching negative figures from March to June (latest data available). June saw the biggest drop yet (-1.44%).”

According to data from the Foreign Trade Promotion Office (Procomer), banana sales decreased by 11%, coffee by 24.7%, flowers and foliage by 13.7% and ornamental plants by 9%.

On the other hand, the loan portfolio decreased by 5.25% between December 2012 and June 2013, according to statistics from the Superintendent of Financial Institutions (SUGEF).

According to Gloria Abraham, Minister of Agriculture and Livestock (MAG), agricultural production is facing tough times, being affected by two main factors: the international crisis and the increase in the value of the Costa Rican colon.