Costa Rica (CRI) and Paraguay (PRY) Trade | The Observatory of Economic Complexity

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Costa Rica-Paraguay Trade: In 2022, Costa Rica exported $922k to Paraguay. The main products that Costa Rica exported to Paraguay were Orthopedic Appliances ($363k), Liquid Pumps ($232k), and Medical Instruments ($164k). Over the past 5 years the exports of Costa Rica to Paraguay have decreased at an annualized rate of 12.3%, from $1.78M in 2017 to $922k in 2022.

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

Paraguay-Costa Rica Trade: In 2022, Paraguay exported $3.9M to Costa Rica. The main products that Paraguay exported to Costa Rica were Packaged Medicaments ($875k), Starches ($858k), and Rice ($617k). Over the past 5 years the exports of Paraguay to Costa Rica have increased at an annualized rate of 2.84%, from $3.39M in 2017 to $3.9M in 2022.

In 2022, Paraguay 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, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.34), and 103 in total exports ($10.1B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Costa Rica exported $922k to Paraguay. The main products exported from Costa Rica to Paraguay were Orthopedic Appliances ($363k), Liquid Pumps ($232k), and Medical Instruments ($164k). During the last 5 years the exports of Costa Rica to Paraguay have decreased at an annualized rate of 12.3%, from $1.78M in 2017 to $922k in 2022.

In 2017, Paraguay exported $3.9M to Costa Rica. The main products exported from Paraguay to Costa Rica were Packaged Medicaments ($875k), Starches ($858k), and Rice ($617k). During the last 5 years the exports of Paraguay to Costa Rica have increased at an annualized rate of 2.84%, from $3.39M in 2022 to $3.9M in 2017.

Exports from Costa Rica () to Paraguay () (2022)

Exports from Paraguay () to Costa Rica () (2022)

Latest Data

Trade between Costa Rica () and Paraguay ()

Costa Rica Exports

Date

Paraguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Costa Rica
Top DestinationUnited States$6.83B

Paraguay
Top DestinationBrazil$3.67B

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

In 2022, countries that imported more from Costa Rica than Paraguay included United States ($6.83B), Netherlands ($1.22B), and Guatemala ($821M).

In 2022, countries that imported more from Paraguay than Costa Rica included Brazil ($3.67B), Argentina ($1.91B), and Chile ($1.16B).

Difference in imports from Paraguay () and Costa Rica () (2022)

Comparative Advantage Costa Rica - Paraguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Costa Rica had a large net trade with Paraguay in the exports of Instruments ($531k), Machines ($260k), and Plastics and Rubbers ($78.6k).

During 2017, Paraguay had a large net trade with Costa Rica in the exports of Vegetable Products ($1.7M), Chemical Products ($1.13M), and Wood Products ($537k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Costa Rica Paraguay+$492kMedical Instruments

Top Product Potential Paraguay Costa Rica+$640kPackaged Medicaments

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Costa Rica () to Paraguay () (2022)

Exports from Paraguay () to Costa Rica () (2022)

Latest Data

Trade between Costa Rica () and Paraguay ()

Costa Rica Exports

Paraguay Exports

Market Competitiveness

Difference in imports from Paraguay () and Costa Rica () (2022)

Comparative Advantage Costa Rica - Paraguay

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Costa Rica () and Paraguay () (2022)

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