2023
Flag  
GDP
$2.14TCURRENT US$
Rnk 10 / 195
2013-2023
Flag
GDP GROWTH
16%CURRENT US$
Rnk 150 / 195
2023
Flag
 GDP
$86.5BCURRENT US$
Rnk 71 / 195
2013-2023
Flag
GDP GROWTH
69.8%CURRENT US$
Rnk 40 / 195
2023
Flag
GDP PC 
$53,431CURRENT US$
Rnk 22 / 195
2013-2023
Flag
GDP PC GROWTH
1.51%CURRENT US$
Rnk 152 / 195
2023
Flag
GDP PC
$16,942CURRENT US$
Rnk 69 / 196
2013-2023
Flag
GDP PC GROWTH
56.8%CURRENT US$
Rnk 34 / 195

About

Canada-Costa Rica Trade: In 2023, Canada exported $288M to Costa Rica. The main products that Canada exported to Costa Rica were Wheat ($79.1M), Medical Instruments ($45.6M), and Potassic Fertilizers ($33.6M). Over the past 5 years the exports of Canada to Costa Rica have increased at an annualized rate of 12.7%, from $159M in 2018 to $288M in 2023.

In 2020, Canada exported services to Costa Rica worth $17.9M, with Royalties and license fees ($11.2M), Travel ($5.97M), and Computer and information services ($746k) being the largest in terms of value.

Costa Rica-Canada Trade: In 2023, Costa Rica exported $402M to Canada. The main products that Costa Rica exported to Canada were Tropical Fruits ($86.7M), Medical Instruments ($81.1M), and Bananas ($61.5M). Over the past 5 years the exports of Costa Rica to Canada have increased at an annualized rate of 1.87%,  from $360M in 2018 to $402M in 2023.

In 2023, Costa Rica did not export any services to Canada.

Comparison: In 2023,  Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B). That same year, Costa Rica ranked 48 in the Economic Complexity Index (ECI 0.34), and 73 in total exports ($23.7B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Canada exported $288M to Costa Rica. The main products exported from Canada to Costa Rica were Wheat ($79.1M), Medical Instruments ($45.6M), and Potassic Fertilizers ($33.6M). During the last 5 years the exports of Canada to Costa Rica have increased at an annualized rate of 12.7%, from $159M in 2018 to $288M in 2023.

In 2018, Costa Rica exported $402M to Canada. The main products exported from Costa Rica to Canada were Tropical Fruits ($86.7M), Medical Instruments ($81.1M), and Bananas ($61.5M). During the last 5 years the exports of Costa Rica to Canada have increased at an annualized rate of 1.87%, from $360M in 2023 to $402M in 2018.

Exports from Canada (Flag) to Costa Rica (Flag) (2023)

Exports from Costa Rica (Flag) to Canada (Flag) (2023)

Market Competitiveness

Color
Canada
Top Destination
United States$410B
Costa Rica
Top Destination
United States$9.5B

This map shows whether countries import more from Canada or Costa Rica. Each country is colored based on the difference in imports they receive from Canada and Costa Rica or the difference in the growth in imports.

In 2023, countries that imported more from Canada than Costa Rica included United States ($410B), China ($31.1B), and United Kingdom ($18B).

In 2023, countries that imported more from Costa Rica than Canada included Nicaragua ($661M), Honduras ($575M), and Guatemala ($846M).

Difference in imports from Costa Rica (Flag) and Canada (Flag) (2023)

Comparative Advantage Canada - Costa Rica

Flow
Scale

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

During 2023, Canada had a large net trade with Costa Rica in the exports of Vegetable Products ($87.3M), Chemical Products ($56.6M), and Instruments ($48.9M).

During 2018, Costa Rica had a large net trade with Canada in the exports of Vegetable Products ($197M), Instruments ($114M), and Plastics and Rubbers ($33.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Canada Costa Rica+$7.1MRefined Petroleum
Top Product Potential Costa Rica Canada+$29.3MMedical Instruments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Canada and Costa Rica. This means that a dot/product with the flag of Canada indicates it has a comparative advantage over Costa Rica. Similarly, a dot/product with the flag of Costa Rica indicates it has a comparative advantage over Canada.

Product Space of Canada (Flag) and Costa Rica (Flag) (2023)

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