2023
Flag  
GDP
$86.5BCURRENT US$
Rnk 71 / 195
2013-2023
Flag
GDP GROWTH
69.8%CURRENT US$
Rnk 40 / 195
2023
Flag
 GDP
$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH
25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC 
$16,942CURRENT US$
Rnk 69 / 195
2013-2023
Flag
GDP PC GROWTH
56.8%CURRENT US$
Rnk 34 / 195
2023
Flag
GDP PC
$33,121CURRENT US$
Rnk 41 / 196
2013-2023
Flag
GDP PC GROWTH
21.9%CURRENT US$
Rnk 99 / 195

About

Costa Rica-South Korea Trade: In 2023, Costa Rica exported $62.6M to South Korea. The main products that Costa Rica exported to South Korea were Medical Instruments ($18.6M), Bananas ($13.1M), and Coffee ($10.1M). Over the past 5 years the exports of Costa Rica to South Korea have decreased at an annualized rate of 20.8%, from $200M in 2018 to $62.6M in 2023.

In 2023, Costa Rica did not export any services to South Korea.

South Korea-Costa Rica Trade: In 2023, South Korea exported $285M to Costa Rica. The main products that South Korea exported to Costa Rica were Cars ($93.8M), Vaccines, blood, antisera, toxins and cultures ($15.8M), and Buses ($11.2M). Over the past 5 years the exports of South Korea to Costa Rica have increased at an annualized rate of 8.48%,  from $190M in 2018 to $285M in 2023.

In 2023, South Korea did not export any services to Costa Rica.

Comparison: In 2023,  Costa Rica ranked 48 in the Economic Complexity Index (ECI 0.34), and 73 in total exports ($23.7B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Costa Rica exported $62.6M to South Korea. The main products exported from Costa Rica to South Korea were Medical Instruments ($18.6M), Bananas ($13.1M), and Coffee ($10.1M). During the last 5 years the exports of Costa Rica to South Korea have decreased at an annualized rate of 20.8%, from $200M in 2018 to $62.6M in 2023.

In 2018, South Korea exported $285M to Costa Rica. The main products exported from South Korea to Costa Rica were Cars ($93.8M), Vaccines, blood, antisera, toxins and cultures ($15.8M), and Buses ($11.2M). During the last 5 years the exports of South Korea to Costa Rica have increased at an annualized rate of 8.48%, from $190M in 2023 to $285M in 2018.

Exports from Costa Rica (Flag) to South Korea (Flag) (2023)

Exports from South Korea (Flag) to Costa Rica (Flag) (2023)

Latest Data

Trade between Costa Rica (Flag) and South Korea (Flag)

Costa Rica Exports

South Korea Exports

Market Competitiveness

Color
Costa Rica
Top Destination
United States$9.5B
South Korea
Top Destination
China$162B

This map shows whether countries import more from Costa Rica or South Korea. Each country is colored based on the difference in imports they receive from Costa Rica and South Korea or the difference in the growth in imports.

In 2023, countries that imported more from Costa Rica than South Korea included Nicaragua ($661M), Honduras ($575M), and Guatemala ($846M).

In 2023, countries that imported more from South Korea than Costa Rica included China ($162B), United States ($118B), and Hong Kong ($28.8B).

Difference in imports from South Korea (Flag) and Costa Rica (Flag) (2023)

Comparative Advantage Costa Rica - South Korea

Flow
Scale

This chart compares trade between Costa Rica and South Korea by product, considering products traded by both, Costa Rica and South Korea.

During 2023, Costa Rica had a large net trade with South Korea in the exports of Vegetable Products ($26.1M), Instruments ($20.5M), and Metals ($8.84M).

During 2018, South Korea had a large net trade with Costa Rica in the exports of Transportation ($117M), Machines ($43.5M), and Metals ($40.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Costa Rica South Korea+$20.9MMedical Instruments
Top Product Potential South Korea Costa Rica+$21.2MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Costa Rica and South Korea. This means that a dot/product with the flag of Costa Rica indicates it has a comparative advantage over South Korea. Similarly, a dot/product with the flag of South Korea indicates it has a comparative advantage over Costa Rica.

Product Space of Costa Rica (Flag) and South Korea (Flag) (2023)

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