2022
Flag  
GDP
$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP GROWTH
89.3%CURRENT US$
Rnk 19 / 186
2022
Flag
 GDP
$68.4BCURRENT US$
Rnk 83 / 186
2012-2022
Flag
GDP GROWTH
44.8%CURRENT US$
Rnk 76 / 186
2022
Flag
GDP PC 
$17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH
61.2%CURRENT US$
Rnk 26 / 186
2022
Flag
GDP PC
$13,199CURRENT US$
Rnk 66 / 186
2012-2022
Flag
GDP PC GROWTH
32.4%CURRENT US$
Rnk 60 / 186

About

Panama-Costa Rica In 2022, Panama exported $242M to Costa Rica. The main products that Panama exported to Costa Rica are Packaged Medicaments ($23M), Aluminium Cans ($17.3M), and Other Oily Seeds ($16.5M). During the last 27 years the exports of Panama to Costa Rica have increased at an annualized rate of 3.21%, from $103M in 1995 to $242M in 2022.

In 2022, Panama did not export any services to Costa Rica.

Costa Rica-Panama In 2022, Costa Rica exported $564M to Panama. The main products that Costa Rica exported to Panama were Other Edible Preparations ($55.7M), Plastic Lids ($30.2M), and Animal Food ($27.2M). During the last 27 years the exports of Costa Rica to Panama have increased at an annualized rate of 6.75%, from $96.7M in 1995 to $564M in 2022.

In 2022, Costa Rica did not export any services to Panama.

Comparison In 2022,  Panama ranked 51 in the Economic Complexity Index (ECI 0.19), and 119 in total exports ($6.62B). That same year, Costa Rica ranked 48 in the Economic Complexity Index (ECI 0.31), and 82 in total exports ($17.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Panama exported $242M to Costa Rica. The main products exported from Panama to Costa Rica were Packaged Medicaments ($23M), Aluminium Cans ($17.3M), and Other Oily Seeds ($16.5M). During the last 27 years the exports of Panama to Costa Rica have increased at an annualized rate of 3.21%, from $103M in 1995 to $242M in 2022.

In 2022, Costa Rica exported $564M to Panama. The main products exported from Costa Rica to Panama were Other Edible Preparations ($55.7M), Plastic Lids ($30.2M), and Animal Food ($27.2M). During the last 27 years the exports of Costa Rica to Panama have increased at an annualized rate of 6.75%, from $96.7M in 1995 to $564M in 2022.

Exports from Panama (Flag) to Costa Rica (Flag) (2022)

Exports from Costa Rica (Flag) to Panama (Flag) (2022)

Latest Data

Trade between Panama (Flag) and Costa Rica (Flag)

Panama Exports

Costa Rica Exports

Market Competitiveness

Color
Panama
Top Destination
China$1.14B
Costa Rica
Top Destination
United States$6.83B

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

In 2021, countries that imported more from Panama than Costa Rica were China ($1.14B), Japan ($785M), and South Korea ($539M).

In 2021, countries that imported more from Costa Rica than Panama were United States ($6.83B), Netherlands ($1.22B), and Belgium ($775M).

Difference in imports from Costa Rica (Flag) and Panama (Flag) (2022)

Comparative Advantage Panama - Costa Rica

Flow
Scale

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

During 2022, Panama had a large net trade with Costa Rica in the exports of Machines ($59.5M), Chemical Products ($44.4M), and Metals ($23.6M).

During 2022, Costa Rica had a large net trade with Panama in the exports of Foodstuffs ($182M), Chemical Products ($136M), and Plastics and Rubbers ($67.4M).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Panama has comparative advantage over Costa Rica. Similarly, the more yellow a dot/product is, the more Costa Rica has comparative advantage over Panama.

Product Space of Panama (Flag) and Costa Rica (Flag) (2022)

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