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2020
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Exports
: $194M, Rnk 7 / 124

2020
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Top Product
: $24M, Packaged Medicaments

2020
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Exports
: $485M, Rnk 6 / 168

2020
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Top Product
: $42.5M, Other Edible Preparations

2020
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Economic Complexity (ECI)
: ECI -0.008, Rnk 58 / 127

2020
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Economic Complexity (ECI)
: ECI 0.18, Rnk 50 / 127

2020
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GDP
: $54B, CURRENT US$
Rnk 83 / 195

2010-2020
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GDP GROWTH
: 83.3%, CURRENT US$
Rnk 23 / 195

2020
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 GDP
: $61.8B, CURRENT US$
Rnk 76 / 195

2010-2020
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GDP GROWTH
: 64.2%, CURRENT US$
Rnk 37 / 195

2020
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GDP PC 
: $12,510, CURRENT US$
Rnk 64 / 195

2010-2020
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GDP PC GROWTH
: 54.8%, CURRENT US$
Rnk 27 / 195

2020
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GDP PC
: $12,141, CURRENT US$
Rnk 65 / 195

2010-2020
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GDP PC GROWTH
: 47.6%, CURRENT US$
Rnk 31 / 195

Panama-Costa Rica In 2020, Panama exported $194M to Costa Rica. The main products that Panama exported to Costa Rica are Packaged Medicaments ($24M), Aluminium Cans ($13.6M), and Non-fillet Frozen Fish ($11M). During the last 25 years the exports of Panama to Costa Rica have increased at an annualized rate of 2.4%, from $107M in 1995 to $194M in 2020.

In 2020, Panama did not export any services to Costa Rica.

Costa Rica-Panama In 2020, Costa Rica exported $485M to Panama . The main products that Costa Rica exported to Panama were Other Edible Preparations ($42.5M), Packaged Medicaments ($40.6M), and Plastic Lids ($30.3M). During the last 25 years the exports of Costa Rica to Panama have increased at an annualized rate of 6.62%, from $97.6M in 1995 to $485M in 2020.

In 2020, Costa Rica did not export any services to Panama.

Comparison In 2020,  Panama ranked 58 in the Economic Complexity Index (ECI -0.008), and 122 in total exports ($4.04B). That same year, Costa Rica ranked 50 in the Economic Complexity Index (ECI 0.18), and 76 in total exports ($14B).

Historical Data

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Bilateral Trade by Products

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Depth
Value
Compare to

In 2020, Panama exported $194M to Costa Rica. The main products exported from Panama to Costa Rica were Packaged Medicaments ($24M), Aluminium Cans ($13.6M), and Non-fillet Frozen Fish ($11M). During the last 25 years the exports of Panama to Costa Rica have increased at an annualized rate of 2.4%, from $107M in 1995 to $194M in 2020.

In 2020, Costa Rica exported $485M to Panama. The main products exported from Costa Rica to Panama were Other Edible Preparations ($42.5M), Packaged Medicaments ($40.6M), and Plastic Lids ($30.3M). During the last 25 years the exports of Costa Rica to Panama have increased at an annualized rate of 6.62%, from $97.6M in 1995 to $485M in 2020.

Panama Exports

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Costa Rica Exports

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Market Competitiveness

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Measure

Panama
Top Destination
: Guatemala, $613M

Costa Rica
Top Destination
: United States, $5.19B

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 South Korea ($249M), China ($405M), and Ecuador ($142M).

In 2019, countries that imported more from Costa Rica than Panama were United States ($5.19B), Netherlands ($1.33B), and Mexico ($620M).

Comparative Advantage Panama - Costa Rica

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Flow

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

During 2020, Panama had a large net trade with Costa Rica in the exports of Machines ($50.3M), Chemical Products ($41.2M), and Animal Products ($24.7M).

During 2020, Costa Rica had a large net trade with Panama in the exports of Chemical Products ($156M), Foodstuffs ($144M), and Plastics and Rubbers ($55.8M).

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 2019, 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.