2022
Flag  
GDP
$68.4BCURRENT US$
Rnk 83 / 186
2012-2022
Flag
GDP GROWTH
44.8%CURRENT US$
Rnk 76 / 186
2022
Flag
 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC 
$13,199CURRENT US$
Rnk 66 / 186
2012-2022
Flag
GDP PC GROWTH
32.4%CURRENT US$
Rnk 60 / 186
2022
Flag
GDP PC
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

Costa Rica-South Korea Trade: In 2022, Costa Rica exported $115M to South Korea. The main products that Costa Rica exported to South Korea were Medical Instruments ($24.7M), Coffee ($15.5M), and Raw Sugar ($15.2M). Over the past 5 years the exports of Costa Rica to South Korea have decreased at an annualized rate of 2.46%, from $131M in 2017 to $115M in 2022.

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

South Korea-Costa Rica Trade: In 2022, South Korea exported $234M to Costa Rica. The main products that South Korea exported to Costa Rica were Cars ($60.7M), Vaccines, blood, antisera, toxins and cultures ($14.2M), and Other Plastic Products ($11.2M). Over the past 5 years the exports of South Korea to Costa Rica have increased at an annualized rate of 2.51%,  from $207M in 2017 to $234M in 2022.

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

Comparison: In 2022,  Costa Rica ranked 51 in the Economic Complexity Index (ECI 0.32), and 82 in total exports ($17.2B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Costa Rica exported $115M to South Korea. The main products exported from Costa Rica to South Korea were Medical Instruments ($24.7M), Coffee ($15.5M), and Raw Sugar ($15.2M). During the last 5 years the exports of Costa Rica to South Korea have decreased at an annualized rate of 2.46%, from $131M in 2017 to $115M in 2022.

In 2017, South Korea exported $234M to Costa Rica. The main products exported from South Korea to Costa Rica were Cars ($60.7M), Vaccines, blood, antisera, toxins and cultures ($14.2M), and Other Plastic Products ($11.2M). During the last 5 years the exports of South Korea to Costa Rica have increased at an annualized rate of 2.51%, from $207M in 2022 to $234M in 2017.

Exports from Costa Rica (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to Costa Rica (Flag) (2022)

Latest Data

Trade between Costa Rica (Flag) and South Korea (Flag)

Costa Rica Exports

South Korea Exports

Market Competitiveness

Color
Costa Rica
Top Destination
United States$6.83B
South Korea
Top Destination
China$150B

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

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

In 2022, countries that imported more from South Korea than Costa Rica included China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea (Flag) and Costa Rica (Flag) (2022)

Comparative Advantage Costa Rica - South Korea

Flow
Scale

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

During 2022, Costa Rica had a large net trade with South Korea in the exports of Instruments ($42.2M), Vegetable Products ($22.2M), and Foodstuffs ($17.5M).

During 2017, South Korea had a large net trade with Costa Rica in the exports of Transportation ($77.9M), Plastics and Rubbers ($44.4M), and Chemical Products ($29.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Costa Rica South Korea+$20.9MMedical Instruments
Top Product Potential South Korea Costa Rica+$21.2MCars

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 Costa Rica and South Korea. This means that a dot/product with the flag of Costa Rica indicates it has a comparative advantage over South Korea. Similarly, a dot/product with the flag of South Korea indicates it has a comparative advantage over Costa Rica.

Product Space of Costa Rica (Flag) and South Korea (Flag) (2022)

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