Flag Panama / Costa Rica Flag

2019
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Exports
: $198M, Rnk 6 / 115

2019
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Top Product
: $36.5M, Refined Petroleum

2019
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Exports
: $592M, Rnk 5 / 164

2019
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Top Product
: $50.6M, Other Edible Preparations

2019
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Economic Complexity (ECI)
: ECI 0.19, Rnk 58 / 146

2019
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Economic Complexity (ECI)
: ECI 0.32, Rnk 53 / 146

2019
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GDP
: $66.8B, CURRENT US$
Rnk 74 / 187

2009-2019
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GDP GROWTH
: 146%, CURRENT US$
Rnk 14 / 187

2019
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 GDP
: $61.8B, CURRENT US$
Rnk 77 / 187

2009-2019
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GDP GROWTH
: 102%, CURRENT US$
Rnk 32 / 187

2019
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GDP PC 
: $15,731, CURRENT US$
Rnk 56 / 187

2009-2019
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GDP PC GROWTH
: 108%, CURRENT US$
Rnk 12 / 187

2019
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GDP PC
: $12,244, CURRENT US$
Rnk 63 / 187

2009-2019
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GDP PC GROWTH
: 81.1%, CURRENT US$
Rnk 29 / 187

Panama-Costa Rica In 2019, Panama exported $198M to Costa Rica. The main products that Panama exported to Costa Rica are Refined Petroleum ($36.5M), Aluminium Cans ($13.1M), and Packaged Medicaments ($12.3M). During the last 24 years the exports of Panama to Costa Rica have increased at an annualized rate of 2.76%, from $103M in 1995 to $198M in 2019.

In 2019, Panama did not export any services to Costa Rica.

Costa Rica-Panama In 2019, Costa Rica exported $592M to Panama . The main products that Costa Rica exported to Panama were Other Edible Preparations ($50.6M), Packaged Medicaments ($41.5M), and Blood, antisera, vaccines, toxins and cultures ($37.1M). During the last 24 years the exports of Costa Rica to Panama have increased at an annualized rate of 7.78%, from $98M in 1995 to $592M in 2019.

In 2019, Costa Rica did not export any services to Panama.

Comparison In 2019,  Panama ranked 58 in the Economic Complexity Index (ECI 0.19), and 115 in total exports ($4.95B). That same year, Costa Rica ranked 53 in the Economic Complexity Index (ECI 0.32), and 84 in total exports ($13B).

Historical Data

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Bilateral Trade by Products

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Depth
Value
Compare to

In 2019, Panama exported $198M to Costa Rica. The main products exported from Panama to Costa Rica were Refined Petroleum ($36.5M), Aluminium Cans ($13.1M), and Packaged Medicaments ($12.3M). During the last 24 years the exports of Panama to Costa Rica have increased at an annualized rate of 2.76%, from $103M in 1995 to $198M in 2019.

In 2019, Costa Rica exported $592M to Panama. The main products exported from Costa Rica to Panama were Other Edible Preparations ($50.6M), Packaged Medicaments ($41.5M), and Blood, antisera, vaccines, toxins and cultures ($37.1M). During the last 24 years the exports of Costa Rica to Panama have increased at an annualized rate of 7.78%, from $98M in 1995 to $592M in 2019.

Panama Exports

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Costa Rica Exports

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Market Competitiveness

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Measure

Panama
Top Destination
: Ecuador, $975M

Costa Rica
Top Destination
: United States, $4.92B

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 2019, countries that imported more from Panama than Costa Rica were Ecuador ($975M), Paraguay ($144M), and China ($410M).

In 2019, countries that imported more from Costa Rica than Panama were United States ($4.92B), Belgium ($708M), and Netherlands ($745M).

Comparative Advantage Panama - Costa Rica

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Depth

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

During 2019, Panama had a large net trade with Costa Rica in the exports of Machines ($41.4M), Mineral Products ($36.9M), and Chemical Products ($23.1M).

During 2019, Costa Rica had a large net trade with Panama in the exports of Chemical Products ($206M), Foodstuffs ($152M), and Plastics and Rubbers ($67.2M).

Tariff Section

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This section shows import tariffs for products traded between Panama and Costa Rica (using the HS6 product classification and the last year reported).

In 2015, the products from Panama that paid the highest import tariffs to enter Costa Rica were Sugars: cane sugar, raw, in solid form, as specified in Subheading Note 2 to this chapter, not containing added flavouring or colouring matter (144%) and Sugars: cane sugar, raw, in solid form, other than as specified in Subheading Note 2 to this chapter, not containing added flavouring or colouring matter (144%).

In 2018, the products from Costa Rica that paid the highest import tariffs to enter Panama were Meat and edible offal: of fowls of the species Gallus domesticus, cuts and offal, fresh or chilled (70.1%) and Meat and edible offal: of fowls of the species Gallus domesticus, cuts and offal, frozen (70.1%).

*The tariffs present between Panama and Costa Rica are:
136: Most Favoured Nation duty rate treatement

Economic Complexity

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Competitive Landscape

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