Overview In 2019 Costa Rica was the number 77 economy in the world in terms of GDP (current US$), the number 84 in total exports, the number 87 in total imports, the number 63 economy in terms of GDP per capita (current US$) and the number 53 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Costa Rica are Medical Instruments ($3.01B), Bananas ($1.18B), Tropical Fruits ($1.11B), Orthopedic Appliances ($817M), and Other Edible Preparations ($464M), exporting mostly to United States ($4.92B), Netherlands ($745M), Belgium ($708M), Guatemala ($632M), and Panama ($592M).

Imports The top imports of Costa Rica are Refined Petroleum ($1.52B), Broadcasting Equipment ($486M), Cars ($467M), Medical Instruments ($445M), and Packaged Medicaments ($331M), importing mostly from United States ($6.02B), China ($1.88B), Mexico ($1.02B), Guatemala ($428M), and Japan ($306M).

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

Historical Data

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Yearly Exports

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Top Export (2019): Medical Instruments, $3.01B

Top Destination (2019): United States, $4.92B

In 2019, Costa Rica exported a total of $13B, making it the number 84 exporter in the world. During the last five reported years the exports of Costa Rica have changed by -$1.48B from $14.5B in 2014 to $13B in 2019.

The most recent exports are led by Medical Instruments ($3.01B), Bananas ($1.18B), Tropical Fruits ($1.11B), Orthopedic Appliances ($817M), and Other Edible Preparations ($464M). The most common destination for the exports of Costa Rica are United States ($4.92B), Netherlands ($745M), Belgium ($708M), Guatemala ($632M), and Panama ($592M).

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Yearly Imports

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Top Import (2019): Refined Petroleum, $1.52B

Top Origin (2019): United States, $6.02B

In 2019 Costa Rica imported $14.7B, making it the number 87 trade destination in the world. During the last five reported years the imports of Costa Rica changed by -$1.29B from $16B in 2014 to $14.7B in 2019.

The most recent imports of Costa Rica are led by Refined Petroleum ($1.52B), Broadcasting Equipment ($486M), Cars ($467M), Medical Instruments ($445M), and Packaged Medicaments ($331M). The most common import partners for Costa Rica are United States ($6.02B), China ($1.88B), Mexico ($1.02B), Guatemala ($428M), and Japan ($306M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Costa Rica are Meat and edible offal: of fowls of the species Gallus domesticus, cuts and offal, frozen (80.9%) and Meat and edible offal: of fowls of the species Gallus domesticus, cuts and offal, fresh or chilled (80.7%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Costa Rica are:
113: China-Costa Rica Free Trade Agreements
136: Most Favoured Nation duty rate treatement
162: Preferential tariff for Andorra
169: Preferential tariff for Barbados
171: Preferential tariff for Belize
178: Preferential tariff for Canada
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
198: Preferential tariff for Dominican Republic
218: Preferential tariff for European Union countries
232: Preferential tariff for Guyana
238: Preferential tariff for Iceland
245: Preferential tariff for Jamaica
270: Preferential tariff for Mexico
281: Preferential tariff for Norway
285: Preferential tariff for Panama
289: Preferential tariff for Peru
299: Preferential tariff for Singapore
307: Preferential tariff for Switzerland and Liechtenstein
320: Preferential tariff for Trinidad and Tobago
386: United States - Dominican Republic - Central America Free Trade Agreement (DR-CAFTA; incl. Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic; 2005)

Economic Complexity

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Most Specialized Products by RCA Index

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Costa Rica has a high level of specialization in Bananas (115), Tropical Fruits (102), Cassava (69.8), Prepared Explosives (43), and Foliage (38.6). 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

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The highest complexity exports of Costa Rica according to the product complexity index (PCI) are Orthopaedic appliances (1.24), Special textile products for technical purposes (1.21), Laboratory, hygienic or pharmaceutical glassware etc (1.21), Abrasive cloths, papers etc (including sandpaper) (1.18), and Wire of stainless steel (1.18). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Costa Rica according to the relatedness index, are Bran (0.2), Other Oily Seeds (0.2), Cocoa Beans (0.2), Legumes (0.2), and Gold (0.2). 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.

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 it is currently specialized in.

Relatedness Space

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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.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.

Economic Complexity Ranking

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Scale

During the last 20 years Costa Rica's⁩ ⁨economy has become relatively más complex, moving from the ⁩⁨56th to the 53rd⁩ 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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