2021
Flag  
GDP
$67.4BCURRENT US$
Rnk 78 / 204
2011-2021
Flag
GDP GROWTH
94.3%CURRENT US$
Rnk 21 / 204
2021
Flag
 GDP
$64.6BCURRENT US$
Rnk 82 / 204
2011-2021
Flag
GDP GROWTH
51.1%CURRENT US$
Rnk 50 / 204
2021
Flag
GDP PC 
$15,491CURRENT US$
Rnk 72 / 204
2011-2021
Flag
GDP PC GROWTH
64.7%CURRENT US$
Rnk 18 / 204
2021
Flag
GDP PC
$12,537CURRENT US$
Rnk 77 / 204
2011-2021
Flag
GDP PC GROWTH
37.2%CURRENT US$
Rnk 52 / 204

About

Panama-Costa Rica In 2021, Panama exported $223M to Costa Rica. The main products that Panama exported to Costa Rica are Packaged Medicaments ($25.4M), Broadcasting Equipment ($21.3M), and Aluminium Cans ($15.9M). During the last 26 years the exports of Panama to Costa Rica have increased at an annualized rate of 3.01%, from $103M in 1995 to $223M in 2021.

In 2021, Panama did not export any services to Costa Rica.

Costa Rica-Panama In 2021, Costa Rica exported $585M to Panama. The main products that Costa Rica exported to Panama were Other Edible Preparations ($54.9M), Plastic Lids ($31.8M), and Pesticides ($29.8M). During the last 26 years the exports of Costa Rica to Panama have increased at an annualized rate of 7.13%, from $97.6M in 1995 to $585M in 2021.

In 2021, Costa Rica did not export any services to Panama.

Comparison In 2021,  Panama ranked 51 in the Economic Complexity Index (ECI 0.31), and 112 in total exports ($6.77B). That same year, Costa Rica ranked 52 in the Economic Complexity Index (ECI 0.24), and 79 in total exports ($16.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2021, Panama exported $223M to Costa Rica. The main products exported from Panama to Costa Rica were Packaged Medicaments ($25.4M), Broadcasting Equipment ($21.3M), and Aluminium Cans ($15.9M). During the last 26 years the exports of Panama to Costa Rica have increased at an annualized rate of 3.01%, from $103M in 1995 to $223M in 2021.

In 2021, Costa Rica exported $585M to Panama. The main products exported from Costa Rica to Panama were Other Edible Preparations ($54.9M), Plastic Lids ($31.8M), and Pesticides ($29.8M). During the last 26 years the exports of Costa Rica to Panama have increased at an annualized rate of 7.13%, from $97.6M in 1995 to $585M in 2021.

Exports from Panama (Flag) to Costa Rica (Flag) (2021)

Exports from Costa Rica (Flag) to Panama (Flag) (2021)

Latest Data

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

Panama Exports

Costa Rica Exports

Market Competitiveness

Color
Panama
Top Destination
China$1.11B
Costa Rica
Top Destination
United States$6.31B

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 ($1.11B), Japan ($782M), and Thailand ($207M).

In 2021, countries that imported more from Costa Rica than Panama were United States ($6.31B), Netherlands ($1.18B), and Belgium ($729M).

Difference in imports from Costa Rica (Flag) and Panama (Flag) (2021)

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 2021, Panama had a large net trade with Costa Rica in the exports of Machines ($58.6M), Chemical Products ($47M), and Metals ($23.8M).

During 2021, Costa Rica had a large net trade with Panama in the exports of Foodstuffs ($170M), Chemical Products ($155M), and Plastics and Rubbers ($76.2M).

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) (2021)

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