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2022
Flag → Flag
Exports $235MRnk 61 / 215
2022
Flag → Flag
Top Product $63.8MWheat
2022
Flag → Flag
Exports $189MRnk 18 / 178
2022
Flag → Flag
Top Product $38.3MMedical Instruments
2022
Flag
Economic Complexity (ECI) ECI 0.92Rnk 31 / 133
2022
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Economic Complexity (ECI) ECI 0.32Rnk 51 / 133
2022
Flag  
GDP$2.14TCURRENT US$
Rnk 9 / 186
2012-2022
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GDP GROWTH17%CURRENT US$
Rnk 129 / 186
2022
Flag
 GDP$68.4BCURRENT US$
Rnk 83 / 186
2012-2022
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GDP GROWTH44.8%CURRENT US$
Rnk 76 / 186
2022
Flag
GDP PC $54,966CURRENT US$
Rnk 14 / 186
2012-2022
Flag
GDP PC GROWTH4.36%CURRENT US$
Rnk 130 / 186
2022
Flag
GDP PC$13,199CURRENT US$
Rnk 66 / 186
2012-2022
Flag
GDP PC GROWTH32.4%CURRENT US$
Rnk 60 / 186

About

Canada-Costa Rica Trade: In 2022, Canada exported $235M to Costa Rica. The main products that Canada exported to Costa Rica were Wheat ($63.8M), Potassic Fertilizers ($33.7M), and Medical Instruments ($15.6M). Over the past 5 years the exports of Canada to Costa Rica have increased at an annualized rate of 11.5%, from $137M in 2017 to $235M in 2022.

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 2022, Costa Rica exported $189M to Canada. The main products that Costa Rica exported to Canada were Medical Instruments ($38.3M), Tropical Fruits ($20.3M), and Orthopedic Appliances ($14.2M). Over the past 5 years the exports of Costa Rica to Canada have increased at an annualized rate of 3.67%,  from $157M in 2017 to $189M in 2022.

In 2022, Costa Rica did not export any services to Canada.

Comparison: In 2022,  Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Costa Rica ranked 51 in the Economic Complexity Index (ECI 0.32), and 82 in total exports ($17.2B).

Latest Trends

August, 2024

About

Overview In August 2024, Canada exported C$15.6M and imported C$61.8M from Costa Rica, resulting in a negative trade balance of C$46.2M. Between August 2023 and August 2024 the exports of Canada have decreased by C$-22.1M (-58.7%) from C$37.7M to C$15.6M, while imports increased by C$5.13M (9.07%) from C$56.6M to C$61.8M.

Trade In August 2024, the top exports of Canada to Costa Rica were Wheat (C$15M), Medical Instruments (C$4.91M), Other Frozen Vegetables (C$837k), Refined Petroleum (C$600k), and Packaged Medicaments (C$573k). In August 2024 the top imports of Canada from Costa Rica were Medical Instruments (C$16.4M), Tropical Fruits (C$10.4M), Bananas (C$6.82M), Orthopedic Appliances (C$1.63M), and Rubber Tires (C$1.35M).

Origins In August 2024 the exports of Canada were mainly from Ontario (C$5.6M), Quebec (C$4.77M), Saskatchewan (C$3.63M), British Columbia (C$675k), and New Brunswick (C$463k), while imports destinations were mainly Ontario (C$39M), Quebec (C$13.5M), British Columbia (C$4.03M), Alberta (C$2.03M), and Saskatchewan (C$1.31M).

Growth In August 2024, the decrease in Canada's year-by-year exports to Costa Rica was explained primarily by an decrease in product exports in Other Measuring Instruments (C$-299k or -97.5%), Insulated Wire (C$-206k or -99.6%), and Animal Food (C$-127k or -39.5%). In August 2024, the increase in Canada's year-by-year imports  from Costa Rica was explained primarily by an increase in product imports  in Tropical Fruits (C$2.22M or 27%), Medical Instruments (C$461k or 2.9%), and Non-fillet Fresh Fish (C$362k or 2.38k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)C$-22.1M(-58.7%)
IMPORT GROWTH (August 2023 - August 2024)C$5.13M(9.07%)
MAIN EXPORTER (August 2024)OntarioC$5.6M

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Canada over time.

To check Costa Rica and Canada trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Costa Rica and Canada Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Canada exported $235M to Costa Rica. The main products exported from Canada to Costa Rica were Wheat ($63.8M), Potassic Fertilizers ($33.7M), and Medical Instruments ($15.6M). During the last 5 years the exports of Canada to Costa Rica have increased at an annualized rate of 11.5%, from $137M in 2017 to $235M in 2022.

In 2017, Costa Rica exported $189M to Canada. The main products exported from Costa Rica to Canada were Medical Instruments ($38.3M), Tropical Fruits ($20.3M), and Orthopedic Appliances ($14.2M). During the last 5 years the exports of Costa Rica to Canada have increased at an annualized rate of 3.67%, from $157M in 2022 to $189M in 2017.

Exports from Canada (Flag) to Costa Rica (Flag) (2022)

Exports from Costa Rica (Flag) to Canada (Flag) (2022)

Market Competitiveness

Color
Canada
Top DestinationUnited States$438B
Costa Rica
Top DestinationUnited States$6.83B

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 2022, countries that imported more from Canada than Costa Rica included United States ($438B), China ($25.4B), and Japan ($14.3B).

In 2022, countries that imported more from Costa Rica than Canada included Guatemala ($821M), Honduras ($517M), and Nicaragua ($593M).

Difference in imports from Costa Rica (Flag) and Canada (Flag) (2022)

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 2022, Canada had a large net trade with Costa Rica in the exports of Vegetable Products ($71.3M), Chemical Products ($47.4M), and Machines ($30.7M).

During 2017, Costa Rica had a large net trade with Canada in the exports of Instruments ($62.3M), Vegetable Products ($61.4M), and Metals ($18.6M).

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) (2022)

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