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Free zone companies generated 72% of the country's exports of high value-added services

Free zone companies generated 72% of the country's exports of high value-added services

• 61,000 Costa Ricans, from these companies, generated almost $3 for each $4 from the knowledge-intensive services, in 2017.

San José, Costa Rica. Thursday April 26, 2018. The 61,595 Costa Ricans that work in the corporate services sector, that are attracted by the Costa Rican Investment Promotion Agency (CINDE), added a total of US$3,125 million in exports, last year. This represents 72% of the knowledge-intensive services exports generated by the country.

This group is conformed by corporate services and the information technology sectors (ICTs). It represents 48% of all the services sector’s exportations in Costa Rica, which had a total value of $9.020 million, in 2017.

The services sector is integrated by high value-added services, tourism, transportation, and finances. All of them represented 46% of Costa Rica’s goods and services exports. This percentage is higher than the average of 27% obtained by the countries that belong to the Organization for Economic Cooperation and Development (OECD).

The data was summited by Costa Rica’s Foreign Trade Promotion Office (PROCOMER), based on Costa Rica’s Central Bank studies.

“These results show that Costa Rica has consolidated for high value-added services. In 2017, companies from the services sector attracted by CINDE generated 10.6% more jobs compared to 2016; as well as 22 new investment projects were confirmed," explained Jorge Sequeira, Managing Director from CINDE.

He added: “To continue consolidating the country in this sector, it is essential to continue promoting the most demanding careers, such as ICTs and corporate services, to increase the availability of specialized human talent and attend the needs of the companies. Additionally, it is key to strengthen the soft skills and learn a second or third language.”

The corporate services sector, of companies attracted by CINDE, generate quality and formal employment opportunities. Currently, the average age of employees in this area is 29 years and 80% come from public schools.

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Fabiola Domínguez