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2022
Flag → Flag
Exports $234MRnk 88 / 220
2022
Flag → Flag
Top Product $60.7MCars
2022
Flag → Flag
Exports $115MRnk 19 / 178
2022
Flag → Flag
Top Product $24.7MMedical Instruments
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 0.32Rnk 51 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$68.4BCURRENT US$
Rnk 83 / 186
2012-2022
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GDP GROWTH44.8%CURRENT US$
Rnk 76 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$13,199CURRENT US$
Rnk 66 / 186
2012-2022
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GDP PC GROWTH32.4%CURRENT US$
Rnk 60 / 186

About

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.

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.

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

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $16.6M and imported $14.3M from Costa Rica, resulting in a positive trade balance of $2.39M. Between October 2023 and October 2024 the exports of South Korea have decreased by $-1.62M (-8.87%) from $18.3M to $16.6M, while imports increased by $18k (0.13%) from $14.2M to $14.3M.

Trade In October 2024, the top exports of South Korea to Costa Rica were Cars, tractors, trucks & parts thereof. ($6.18M), Plastics & articles thereof ($1.33M), Iron/Steel Articles ($1.15M), Aluminum articles ($1.04M), and Machinery, mechanical appliances, & parts ($879k). In October 2024 the top imports of South Korea from Costa Rica were Optical, photo, & film equipment; medical... ($10M), Pharmaceutical products ($817k), Electrical machinery and electronics ($770k), Coffee, tea, mate & spices ($702k), and Edible fruits, nuts & fruit peels ($321k).

Growth In October 2024, the decrease in South Korea's year-by-year exports to Costa Rica was explained primarily by an decrease in product exports in Chemical products n.e.s. ($-1.92M or -89.6%), Cars, tractors, trucks & parts thereof. ($-1.87M or -23.2%), and Plastics & articles thereof ($-1.13M or -45.9%). In October 2024, the increase in South Korea's year-by-year imports  from Costa Rica was explained primarily by an increase in product imports  in Optical, photo, & film equipment; medical... ($4.68M or 87.7%), Pharmaceutical products ($464k or 131%), and Cotton ($91k or 827%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$-1.62M(-8.87%)
IMPORT GROWTH (October 2023 - October 2024)$18k(0.13%)

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

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

For full datasets download visit Bulk Download page.

Explore Costa Rica and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, 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 2017 to $234M in 2022.

In 2017, 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 2022 to $115M in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Costa Rica
Top DestinationUnited States$6.83B

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

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

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

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

Comparative Advantage South Korea - Costa Rica

Flow
Scale

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

During 2022, 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).

During 2017, 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).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Costa Rica+$21.2MCars
Top Product Potential Costa Rica South Korea+$20.9MMedical 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 South Korea and Costa Rica. This means that a dot/product with the flag of South Korea 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 South Korea.

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

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