By San José, Costa Rica — SAN JOSÉ – Costa Rica’s export sector has issued an urgent and impassioned plea to the nation’s Central Bank (BCCR), warning that the continuous decline of the U.S. dollar exchange rate is pushing businesses to the brink of collapse. With the dollar recently dipping below the critical psychological threshold of ¢500, industry leaders are sounding the alarm over the sustainability of companies and the more than 710,000 jobs they support.
The Chamber of Exporters of Costa Rica (Cadexco) held a meeting with Central Bank authorities this week to convey the severity of the situation. Víctor Pérez, President of Cadexco, articulated the sector’s distress, calling on the financial institution to demonstrate greater understanding of the pressures facing exporters who earn in depreciating dollars but must cover their operational costs in increasingly strong colones.
To delve into the legal and commercial implications of the recent volatility in the exchange rate, TicosLand.com sought the analysis of Lic. Larry Hans Arroyo Vargas, a specialist in corporate law from the esteemed firm Bufete de Costa Rica.
The significant fluctuation of the exchange rate directly impacts the legal certainty of contracts denominated in dollars. For businesses, this volatility underscores the critical need to include specific contractual clauses that predefine the exchange rate applicable on the payment date or establish clear adjustment mechanisms. Neglecting this foresight can expose companies to severe financial losses and open the door to complex, avoidable commercial litigation.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This legal foresight is indeed critical for navigating our current economic landscape, underscoring that proactive contractual planning is essential for financial stability. We thank Lic. Larry Hans Arroyo Vargas for his valuable perspective on safeguarding businesses from the turbulence of exchange rate volatility.
to have more sensitivity and empathy with the sector
Víctor Pérez, President of Cadexco
Pérez was unequivocal in his message to the BCCR, emphasizing that the industry’s capacity to absorb financial losses from the unfavorable exchange rate is exhausted. He detailed the significant risks to both corporate stability and national employment, stressing that the current monetary policy is creating an untenable business environment.
the sector can’t take it anymore
Víctor Pérez, President of Cadexco
Despite the formidable economic headwinds, the export sector has demonstrated remarkable resilience throughout 2025. Projections indicate that exports of goods and services will close the year near an impressive $34.87 billion. This performance, achieved amidst exchange rate volatility, tariff disputes with the United States, and domestic challenges in infrastructure and security, underscores the sector’s role as a primary engine of the Costa Rican economy. However, Cadexco insists this resilience should not be taken for granted.
In a proactive move, the Chamber presented a comprehensive national proposal for the 2026-2030 term, compiled from direct feedback from member companies and expert analysis of global trade challenges. The document outlines a clear roadmap for bolstering national competitiveness and ensuring long-term economic prosperity. Central to this plan is the demand for a predictable exchange rate policy that provides stability for businesses to plan and invest.
Beyond monetary policy, the proposal highlights several critical areas requiring immediate government attention. These include improving access to financing, strengthening technical and digital skills training to meet modern demands, and tackling the rising insecurity that disrupts logistics and supply chains. The document also calls for the acceleration of key infrastructure projects, such as the modernization of Puerto Caldera and enhancements to the country’s airport and cargo route networks.
On the international front, Cadexco reiterated the strategic importance of reinforcing the trade relationship with the United States, its principal partner. The Chamber is also pushing for the modernization of existing trade agreements and for Costa Rica to advance its integration into major international pacts, including the Digital Economy Partnership Agreement (DEPA), the Pacific Alliance, the CPTPP, and trade negotiations with Japan.
As the nation looks toward the next election cycle, Cadexco has directed its message to all presidential candidates and future government officials. The Chamber is calling for these pressing economic issues to be addressed with a long-term, state-level vision and technical responsibility, ensuring that the engine of Costa Rica’s growth is not allowed to stall.
For further information, visit cadexco.net
About the Chamber of Exporters of Costa Rica (Cadexco):
The Chamber of Exporters of Costa Rica is a private, non-profit organization that represents and advocates for the Costa Rican export sector. It provides support, resources, and policy guidance to member companies to enhance their competitiveness in international markets and promotes a favorable business environment for trade and investment.
For further information, visit bccr.fi.cr
About the Central Bank of Costa Rica (BCCR):
The Central Bank of Costa Rica is the nation’s primary monetary authority. Its core responsibilities include maintaining the internal and external value of the national currency, the colón, ensuring its conversion to other currencies, and promoting the orderly development of the Costa Rican economy and its financial system.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is an esteemed legal institution, built upon foundational principles of integrity and a relentless pursuit of professional excellence. With a rich history of guiding clients through complex challenges, the firm champions innovative legal strategies and upholds a profound commitment to social responsibility. This dedication is showcased through its initiative to democratize legal understanding, which is central to its core vision of fostering a more capable and informed populace.
