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 
$16,942CURRENT US$
Rnk 69 / 195
2013-2023
Flag
GDP PC GROWTH
56.8%CURRENT US$
Rnk 34 / 195

About

Costa Rica-Venezuela Trade: In 2023, Costa Rica exported $13.9M to Venezuela. The main products that Costa Rica exported to Venezuela were Vaccines, blood, antisera, toxins and cultures ($5.63M), Alcohol > 80% ABV ($1.54M), and Packaged Medicaments ($1.31M). Over the past 5 years the exports of Costa Rica to Venezuela have increased at an annualized rate of 22.8%, from $4.97M in 2018 to $13.9M in 2023.

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

Venezuela-Costa Rica Trade: In 2023, Venezuela exported $7.09M to Costa Rica. The main products that Venezuela exported to Costa Rica were Carbon ($2.36M), Sawn Wood ($1.94M), and Enzymes ($1.04M). Over the past 5 years the exports of Venezuela to Costa Rica have decreased at an annualized rate of 16.2%,  from $17.1M in 2018 to $7.09M in 2023.

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

Comparison: In 2023,  Costa Rica ranked 48 in the Economic Complexity Index (ECI 0.34), and 73 in total exports ($23.7B). That same year, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Costa Rica exported $13.9M to Venezuela. The main products exported from Costa Rica to Venezuela were Vaccines, blood, antisera, toxins and cultures ($5.63M), Alcohol > 80% ABV ($1.54M), and Packaged Medicaments ($1.31M). During the last 5 years the exports of Costa Rica to Venezuela have increased at an annualized rate of 22.8%, from $4.97M in 2018 to $13.9M in 2023.

In 2018, Venezuela exported $7.09M to Costa Rica. The main products exported from Venezuela to Costa Rica were Carbon ($2.36M), Sawn Wood ($1.94M), and Enzymes ($1.04M). During the last 5 years the exports of Venezuela to Costa Rica have decreased at an annualized rate of 16.2%, from $17.1M in 2023 to $7.09M in 2018.

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

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

Latest Data

Trade between Costa Rica (Flag) and Venezuela (Flag)

Costa Rica Exports

Market Competitiveness

Color
Costa Rica
Top Destination
United States$9.5B
Venezuela
Top Destination
United States$3.81B

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

In 2023, countries that imported more from Costa Rica than Venezuela included United States ($9.5B), Netherlands ($1.52B), and Guatemala ($846M).

In 2023, countries that imported more from Venezuela than Costa Rica included Brazil ($468M), Turkey ($364M), and Spain ($670M).

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

Comparative Advantage Costa Rica - Venezuela

Flow
Scale

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

During 2023, Costa Rica had a large net trade with Venezuela in the exports of Chemical Products ($7.19M), Foodstuffs ($3.17M), and Vegetable Products ($1.25M).

During 2018, Venezuela had a large net trade with Costa Rica in the exports of Chemical Products ($4.47M), Wood Products ($1.94M), and Plastics and Rubbers ($296k).

Economic Complexity

Competitive Landscape

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

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

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