Costa Rica2021 Economic Complexity : 0.24, Rank 52 of 131
2021 Product Exports | Imports: $16.2B | $17.9B, 79 of 226 | 85 of 226
2021 Per Capita Product Exports | Imports: $3.14k | $3.49k, 81 of 219 | 98 of 219
2019 Service Exports | Imports : $9.38B | $4.18B, 55 of 108 | 66 of 108
Overview In 2021, Costa Rica was the number 77 economy in the world in terms of GDP (current US$), the number 79 in total exports, the number 85 in total imports, the number 59 economy in terms of GDP per capita (current US$) and the number 52 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Costa Rica are Medical Instruments ($4.32B), Bananas ($1.23B), Tropical Fruits ($1.14B), Orthopedic Appliances ($1.01B), and Other Edible Preparations ($638M), exporting mostly to United States ($6.31B), Netherlands ($1.18B), Belgium ($729M), Guatemala ($727M), and Panama ($585M).
Imports The top imports of Costa Rica are Refined Petroleum ($1.41B), Medical Instruments ($560M), Broadcasting Equipment ($536M), Cars ($475M), and Integrated Circuits ($452M), importing mostly from United States ($6.89B), China ($2.78B), Mexico ($920M), Malaysia ($559M), and Guatemala ($551M).
Location Costa Rica borders Nicaragua and Panama by land and Colombia and Ecuador by sea.
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.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
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.
Top Export (2021): Medical Instruments, $4.32B
Top Destination (2021): United States, $6.31B
In 2021, Costa Rica exported a total of $16.2B, making it the number 79 exporter in the world. During the last five reported years the exports of Costa Rica have changed by $4.29B from $11.9B in 2016 to $16.2B in 2021.
The most recent exports are led by Medical Instruments ($4.32B), Bananas ($1.23B), Tropical Fruits ($1.14B), Orthopedic Appliances ($1.01B), and Other Edible Preparations ($638M). The most common destination for the exports of Costa Rica are United States ($6.31B), Netherlands ($1.18B), Belgium ($729M), Guatemala ($727M), and Panama ($585M).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
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).
Costa Rica has a high level of specialization in Bananas (118), Tropical Fruits (87.8), Cassava (37.9), Medical Instruments (37.5), and Plant foliage (29.9). Specialization is measured using RCA, an index that takes the ratio between Costa Rica observed and expected exports in each product.
The highest complexity exports of Costa Rica according to the product complexity index (PCI) are Stainless Steel Wire (1.37), Micro-Organism Culture Preparations (1.23), Nickel Bars (1.14), Glues (1.13), and Abrasive Powder (1.07). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Costa Rica according to the relatedness index, were Cocoa Beans (0.21), Gold (0.21), Legumes (0.21), Soap (0.21), and Molasses (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 a country currently specializes in.
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.
During the last 20 years Costa Rica's economy has become relatively more complex, moving from the 56th to the 52nd 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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