AGP Executive Report

Public Finances: Costa Rica faces an estimated $882 million revenue shortfall in 2026. A proposed budget revision would cut spending on security, education and the justice system while authorizing more borrowing. Forestry Investment: More than 6,000 European investors fear losses after Swiss teak seller Life Forestry went bankrupt, leaving plantations in Costa Rica and Ecuador at the center of a disputed investment scheme. Swiss prosecutors are investigating suspected fraud; no charges have been filed. Agriculture: Weather-related harvest challenges weighed on Costa Rica’s fresh pineapple exports in 2025, as global shipments grew 3.7% and the Philippines increased exports by 19%. Tourism: Cahuita businesses report falling visitor numbers and sales months after major drug raids disrupted local operations and damaged the area’s reputation. Semiconductors: PROCOMER promoted Costa Rica as a strategic destination for the semiconductor industry at SEMICON West.

Forestry Investment: More than 6,000 European buyers fear losses after Swiss teak seller Life Forestry collapsed, with plantations in Costa Rica and Ecuador. The firm reportedly raised about $245 million over two decades; Swiss prosecutors are investigating its former chief and another person, with no charges filed. Public Finances: The Finance Ministry says 2026 revenue could fall ₡400 billion ($882 million) short of budget. A proposal would cut spending, including funding for police, courts, schools and classroom technology, and authorize more borrowing. Tourism: Cahuita businesses report fewer visitors and falling sales after a major drug-trafficking investigation disrupted local economic ties, adding pressure on operators already struggling to cover costs. Agriculture: Higher fuel, fertilizer and shipping costs are squeezing banana producers, compounding thin margins in a key regional supply chain. Semiconductors: PROCOMER promoted Costa Rica as a strategic semiconductor destination at SEMICON West, underscoring the country’s push to attract advanced manufacturing investment.

Plastics and Trade: Colombiaplast 2026 grew its exhibitor and international buyer numbers, with Costa Rican companies among buyers at meetings that generated $7.8 million in potential business. Agriculture: Rising fuel, fertilizer and shipping costs are squeezing banana producers worldwide, adding pressure to a major export supply chain. Costa Rican farmer Olga Vargas was also named among FAO’s 100 Women Heroes. Technology Investment: PROCOMER promoted Costa Rica as a strategic semiconductor destination at SEMICON West, as the country seeks to attract industry investment. Transport Services: Costa Rica’s licensed taxi fleet has shrunk by nearly half since Uber arrived, highlighting a major shift in the passenger transport market. Economic Outlook: Reports say Costa Rica’s economy is losing momentum, but the available coverage offered no growth figures or sector breakdown.

Agriculture: Rising fuel, fertilizer and shipping costs linked to the Iran conflict are squeezing banana producers, adding pressure to a crop central to Costa Rica’s export economy. Transport Services: Costa Rica’s licensed taxi fleet has shrunk from 13,500 concessions to about 6,800, as ride-hailing apps reshape the market and operators call for clearer rules. Rural Enterprise: Costa Rican farmer Olga Vargas was named among the FAO’s 100 women heroes in agrifood, recognized for combining guava and tilapia production with water conservation and support for other growers. Technology Investment: PROCOMER promoted Costa Rica as a strategic semiconductor destination at SEMICON West, seeking to attract industry investment. Economic Outlook: Recent coverage reports that Costa Rica’s economy is losing momentum, though it offers few details on the slowdown.

Banana Industry: Rising fuel, fertilizer and shipping costs linked to the Iran war are squeezing producers already facing thin margins, disease and climate pressures. Fresh Produce Exports: Costa Rica ranked third among Spain’s fresh fruit and vegetable suppliers in the first seven months of 2026, shipping 261,041 tonnes, up 13% year over year, worth €211 million. Semiconductors: PROCOMER promoted Costa Rica as a strategic semiconductor destination at SEMICON West, seeking to attract industry investment. Agriculture: Puntarenas farmer Olga Vargas was named among the FAO’s 100 women heroes in agrifood for her work in family farming, water conservation and supporting rural growers. Transport Services: The licensed taxi fleet has fallen to about 6,800 active concessions from 13,500, as industry representatives point to competition from ride-hailing apps.

Tourism & Events: Snoop Dogg’s Costa Rica concert was cancelled after promoter Don Stockwell’s arrest in a money-laundering investigation. The promoter says ticket refunds will be automatic, but has not given a timetable. Agrifood Exports: Costa Rica ranked third among Spain’s fresh-produce suppliers in the first seven months of 2026, shipping 261,041 tonnes—up 13% year over year—worth €211 million. Semiconductors: PROCOMER promoted Costa Rica as a strategic destination for the semiconductor industry at SEMICON West. Farm Innovation: FAO named Costa Rican farmer Olga Vargas among its 100 Women Heroes for work combining guava and tilapia production with water conservation. Transport: Licensed taxi concessions have fallen from 13,500 to about 6,800 as ride-hailing apps reshape passenger services and fuel calls for fairer regulation. Banana Supply Chain: Rising fuel, fertilizer and shipping costs linked to the Iran conflict are squeezing growers and threatening higher prices.

Transport Services: Costa Rica’s licensed taxi fleet has shrunk from 13,500 concessions to about 6,800 active drivers, as ride-hailing apps reshape passenger transport and operators call for fairer regulation. Agriculture: Farmer Olga Vargas was named among the FAO’s 100 women agrifood leaders for her water-conservation work and guava and tilapia production. Semiconductors: PROCOMER used SEMICON West to pitch Costa Rica’s investment potential in chip design, assembly, testing and advanced packaging; eight local companies showcased solutions. Fresh Produce: Costa Rica supplied Spain with 261,041 tonnes of fruits and vegetables in the first seven months of 2026, up 13% year over year, ranking third by volume. Banana Supply Chain: Higher fuel and fertilizer costs linked to the Iran conflict are squeezing growers and could lift U.S. prices when current contracts expire.

Semiconductors: PROCOMER showcased Costa Rica’s design, assembly, testing and advanced-packaging capabilities at SEMICON West, seeking investment and partnerships while highlighting its specialized talent pipeline. Agrifood Exports: Costa Rica ranked third among Spain’s fresh fruit and vegetable suppliers by volume in January–July, shipping 261,041 tonnes, up 13% year over year. Medical Manufacturing: Biomerics’ Cartago operation has gone live with a digital production system, replacing paper records that could take two weeks to compile and supporting more efficient, compliant manufacturing. Farm Innovation: Costa Rican farmer Olga Vargas was named among the FAO’s 100 Women Heroes for her work in guava and tilapia production, water conservation and sharing practical farming methods. Supply-Chain Costs: Rising fuel and fertilizer prices are squeezing banana producers worldwide, raising the risk of higher prices and adding pressure to Costa Rica’s export sector.

Economic Growth: Costa Rica’s economic activity grew 2.2% year over year in August, down 3.4 percentage points from a year earlier. Manufacturing contracted, while growth among free-zone firms slowed to 0.7%. Semiconductors: PROCOMER used SEMICON West to promote Costa Rica’s capabilities in chip design, assembly, testing and advanced packaging; eight local companies presented solutions to investors. Medical Manufacturing: Biomerics has launched paperless production records at its Cartago facility, replacing a manual process that could take two weeks and freeing staff for production and improvement work. Agriculture: Banana growers face higher fuel, fertilizer and shipping costs, with Del Monte closing four Costa Rican farms. Meanwhile, Costa Rica’s fresh-produce shipments to Spain reached 261,041 tonnes in the first seven months of 2026, up 13% year over year.

Semiconductors: PROCOMER showcased Costa Rica’s capabilities at SEMICON West, where eight local companies presented solutions to potential investors. The agency also highlighted plans to expand the pool of specialized workers. Medical Manufacturing: Biomerics’ Cartago operation has launched a paperless production system, replacing records that could take up to two weeks to compile and freeing staff for factory-floor work. Economic Pulse: Costa Rica’s economic activity grew 2.2% year over year in August, down from 2025. Manufacturing contracted, and growth among companies in special regimes, including free-trade zones, slowed to 0.7%. Fresh Produce: Costa Rica supplied Spain with 261,041 tonnes of fresh fruit and vegetables in the first seven months of 2026, up 13% year over year, making it the market’s third-largest supplier by volume. Banana Industry: Growers face tighter margins as higher fuel and fertilizer costs add pressure to an already challenging business.

Regional Logistics: Panama’s 7.7 earthquake caused damage and injuries, but the Panama Canal kept operating normally; more than 400 aftershocks were reported. Agriculture: Latin American banana growers face tighter margins as fuel, fertilizer and shipping costs climb, raising pressure on prices and supply chains. Climate & Fisheries: Costa Rican researchers moved 2,700 corals into cooler, deeper water in the Gulf of Nicoya as El Niño heat threatens bleaching. Transport: Landslides closed Route 32 between San José and Limón, disrupting a key freight corridor. Trade & Investment: India’s resident embassy in Costa Rica is expected to deepen business links in technology, healthcare, education and clean energy.

Banana Supply Chain: Rising fuel, fertilizer and shipping costs are squeezing banana producers, who have little room to absorb higher expenses. Costa Rican bananas averaged £0.95 per kilo in UK wholesale markets in week 41, just below the £0.97 all-origin average. India-Costa Rica Trade: India’s resident embassy in Costa Rica is expected to strengthen business links and open opportunities in technology, healthcare, education and clean energy. Rental Market: Costa Rican rents rose 3.27% in the year to September, against just 0.34% overall inflation. For existing colón leases, annual increases are capped at inflation.

Banana Supply Chain: Higher fuel, fertilizer and shipping costs are squeezing Latin American growers, with possible price increases when supply contracts expire; Costa Rica’s exporters face the same cost pressures. India-Costa Rica Trade: India’s new resident embassy in San José is expected to strengthen business ties and open opportunities in technology, healthcare, education and clean energy. Coffee Jobs: Producers warn that the strong colón is forcing job cuts, adding pressure on the export sector. Transport: Landslides have closed Route 32 between San José and Limón, disrupting a key link for freight and travel. Fisheries: Costa Rican scientists are reviving fish-larvae research to help protect fisheries.

Banana Supply Chain: Fuel, fertilizer and shipping costs are squeezing banana producers as the Iran war disrupts supply chains. Costa Rican bananas averaged £0.95 per kg in UK wholesale markets in week 41. Coffee and Exports: Costa Rican coffee producers warn that a strong colón is forcing job cuts, while the country’s banana sector promoted its exports at Fruit Attraction Madrid. Transport: Landslides closed Route 32 between San José and Limón, disrupting a key link to the Caribbean coast. Water and Research: A new artificial beach in drought-prone Guanacaste uses groundwater, raising scrutiny as El Niño threatens dry conditions. Costa Rican scientists are also reviving fish-larvae research to help protect fisheries.

Tourism & Food: Tabacón Thermal Resort’s October chef series is bringing eight guest chefs to La Fortuna for four collaborative dinners showcasing Costa Rican flavors and local produce. Trade & Exports: Costa Rican banana producers promoted their products at Madrid’s Fruit Attraction as Latin America’s produce sector weighs climate risks, logistics and market diversification. Costa Rican buyers also joined Bogotá’s International Industrial Fair, where meetings generated more than $11 million in expected business. Coffee: Producers warn that the strong colón is squeezing margins and forcing job cuts. Transport: Landslides closed Route 32 between San José and Limón, disrupting a key corridor for freight and travel. Fisheries: A Costa Rican training program is rebuilding research into fish eggs and larvae to support sustainable fisheries management. Hospitality: Wyndham plans a 168-room hotel in Grecia by 2028, targeting both visitors and business travelers.

Tourism Investment: Wyndham plans a 168-room hotel in Grecia by 2028, serving visitors and business travelers near industrial parks and free-trade zones. JW Marriott has opened its first all-inclusive resort in Guanacaste. Agriculture & Exports: Costa Rica’s banana sector promoted its products at major produce fairs in Madrid, while coffee producers warn a strong colón is forcing job cuts. Water & Development: Guanacaste’s new 3.5-hectare artificial lagoon draws groundwater in a drought-prone region facing a severe El Niño dry season. Transport: Landslides closed Route 32 between San José and Limón, a key logistics corridor; Panama Canal shipping continued after the 7.7 earthquake. Fisheries: Costa Rican researchers trained regional specialists to study fish eggs and larvae, helping guide sustainable fisheries management. Environmental Crime: An Interpol operation across nine countries, including Costa Rica, led to 233 arrests and exposed illegal forest clearing and trafficking networks.