José Manuel Salazar, executive secretary of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), has warned that the strengthening of the Costa Rican colón against the US dollar, combined with US tariff policy, poses a significant threat to the country’s export competitiveness.
Salazar described the situation as damaging to Costa Rica’s development model, noting that the dual pressure of currency appreciation and trade barriers undermines the economic gains achieved through export-led growth.
The comments highlight growing concerns among regional economists about the vulnerability of small open economies to external monetary and trade shocks.
The appreciation of the colón reduces the price advantage of Costa Rican goods in international markets, particularly in the United States, which remains the country’s largest trading partner.
When coupled with potential tariff increases, the effect on export margins can be severe, forcing companies to absorb costs or raise prices, thereby losing market share.
This warning comes amid broader regional scrutiny of exchange-rate regimes and their impact on competitiveness.