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2023
Economic Complexity
Trade 0.34Rank 48 of 132
2021
Economic Complexity
Technology -0.72Rank 67 of 96
2022
Economic Complexity
Research -0.16Rank 69 of 140
2023
Product
Exports | Imports $23.7B | $22.7B73 of 226 |  79 of 226
2023
Per Capita Product
Exports | Imports $4.65k | $4.44k67 of 220 |  97 of 220

About

Overview In 2023, Costa Rica was the number 71 economy in the world in terms of GDP (current US$), the number 73 in total exports, the number 79 in total imports, the number 69 economy in terms of GDP per capita (current US$) and the number 48 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Costa Rica are Medical Instruments ($5.99B), Integrated Circuits ($2.86B), Orthopedic Appliances ($2.21B), Bananas ($1.74B), and Tropical Fruits ($1.65B), exporting mostly to United States ($9.5B), Netherlands ($1.52B), China ($1.17B), Guatemala ($846M), and Belgium ($767M).

Imports The top imports of Costa Rica are Refined Petroleum ($2.47B), Cars ($1.03B), Medical Instruments ($828M), Broadcasting Equipment ($691M), and Packaged Medicaments ($611M), importing mostly from United States ($8.55B), China ($3.43B), Mexico ($1.41B), Brazil ($642M), and Guatemala ($626M).

Location Costa Rica borders Nicaragua and Panama by land and Colombia and Ecuador by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Costa Rica.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Medical Instruments$5.99B
Top Destination (2023)United States$9.5B

In 2023, Costa Rica exported a total of $23.7B, making it the number 73 exporter in the world. During the last five reported years the exports of Costa Rica have changed by $9.18B from $14.6B in 2018 to $23.7B in 2023.

The most recent exports are led by Medical Instruments ($5.99B), Integrated Circuits ($2.86B), Orthopedic Appliances ($2.21B), Bananas ($1.74B), and Tropical Fruits ($1.65B). The most common destination for the exports of Costa Rica are United States ($9.5B), Netherlands ($1.52B), China ($1.17B), Guatemala ($846M), and Belgium ($767M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
United States$2.05B (+ 27.6%)
China$323M (+ 38.3%)
Singapore$141M (+ 93.3%)
Fastest Growing Import Markets (2022 - 2023)
United States$347M (+ 4.23%)
China$224M (+ 6.98%)
Netherlands$148M (+ 104%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Costa Rica Exports Services (2019)$9.38B
Costa Rica Imports Services (2019)$4.18B

In 2019, Costa Rica exported $9.38B worth of services. The top services exported by Costa Rica in 2019 were Personal travel ($3.66B), Other business services ($3.41B), Computer and information services ($1.33B), Transportation ($496M), and Business travel ($353M).

The top services imported by Costa Rica in 2019 were Transportation ($1.2B), Personal travel ($677M), Royalties and license fees ($593M), Other business services ($451M), and Business travel ($411M).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)0.34Rank 48 of 132
Economic Complexity (Technology)-0.72Rank 67 of 96
Economic Complexity (Research)-0.16Rank 69 of 140

Most Specialized Products by RCA Index

Costa Rica has a high level of specialization in Bananas (105), Tropical Fruits (88.2), Cassava (48.3), Medical Instruments (34.1), and Orthopedic Appliances (27.3). Specialization is measured using RCA, an index that takes the ratio between Costa Rica observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Costa Rica according to the product complexity index (PCI) are Stainless steel wire (1.61), Nickel; articles thereof n.e.c. in chapter 75 (1.49), Nickel; tubes, pipes and tube or pipe fittings (e.g. couplings, elbows, sleeves) (1.2), Machines and appliances, instruments or apparatus of chapter 90; parts and accessories... (1.18), and Electronic integrated circuits (1.18). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Costa Rica according to the relatedness index, were Beer (0.21), Cocoa Beans (0.21), Hard Liquor (0.2), Dried/Salted/Smoked/Brined Fish (0.2), and Molasses (0.19). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Costa Rica is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Costa Rica. These are products that tend to be co-exported with the products that Costa Rica exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Costa Rica's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨50th to the 48th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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