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).
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.
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.
In 2018, Costa Rica exported $7.56B worth of services. The top services exported by Costa Rica in 2018 were Personal travel ($3.45B), Miscellaneous business, professional, and technical services ($2.92B), Business travel ($451M), Air transport ($282M), and Sea transport ($173M).
The top services imported by Costa Rica in 2018 were Franchises and similar rights ($565M), Personal travel ($552M), Sea transport ($544M), Air transport ($475M), and Miscellaneous business, professional, and technical services ($464M).
*The tariffs applied to imports for Costa Rica are:113: China-Costa Rica Free Trade Agreements136: Most Favoured Nation duty rate treatement162: Preferential tariff for Andorra169: Preferential tariff for Barbados171: Preferential tariff for Belize178: Preferential tariff for Canada181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA182: Preferential tariff for Chile189: Preferential tariff for Colombia198: Preferential tariff for Dominican Republic218: Preferential tariff for European Union countries232: Preferential tariff for Guyana238: Preferential tariff for Iceland245: Preferential tariff for Jamaica270: Preferential tariff for Mexico281: Preferential tariff for Norway285: Preferential tariff for Panama289: Preferential tariff for Peru299: Preferential tariff for Singapore307: Preferential tariff for Switzerland and Liechtenstein320: Preferential tariff for Trinidad and Tobago386: United States - Dominican Republic - Central America Free Trade Agreement (DR-CAFTA; incl. Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic; 2005)
During the last 20 years Costa Rica's economy has become relatively más complex, moving from the 68th 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.
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.
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.
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.