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2023
Flag → Flag
Exports $285MRnk 70 / 142
2023
Flag → Flag
Top Product $93.8MCars
2023
Flag → Flag
Exports $62.6MRnk 40 / 172
2023
Flag → Flag
Top Product $18.6MMedical Instruments
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 0.34Rnk 48 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$86.5BCURRENT US$
Rnk 71 / 195
2013-2023
Flag
GDP GROWTH69.8%CURRENT US$
Rnk 40 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$16,942CURRENT US$
Rnk 69 / 196
2013-2023
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GDP PC GROWTH56.8%CURRENT US$
Rnk 34 / 195

About

South Korea-Costa Rica Trade: In 2023, South Korea exported $285M to Costa Rica. The main products that South Korea exported to Costa Rica were Cars ($93.8M), Vaccines, blood, antisera, toxins and cultures ($15.8M), and Buses ($11.2M). Over the past 5 years the exports of South Korea to Costa Rica have increased at an annualized rate of 8.48%, from $190M in 2018 to $285M in 2023.

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

Costa Rica-South Korea Trade: In 2023, Costa Rica exported $62.6M to South Korea. The main products that Costa Rica exported to South Korea were Medical Instruments ($18.6M), Bananas ($13.1M), and Coffee ($10.1M). Over the past 5 years the exports of Costa Rica to South Korea have decreased at an annualized rate of 20.8%,  from $200M in 2018 to $62.6M in 2023.

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

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Costa Rica ranked 48 in the Economic Complexity Index (ECI 0.34), and 73 in total exports ($23.7B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $17M and imported $25.5M from Costa Rica, resulting in a negative trade balance of $8.49M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-1.5M (-8.1%) from $18.5M to $17M, while imports increased by $13.5M (112%) from $12M to $25.5M.

Trade In December 2024, the top exports of South Korea to Costa Rica were Cars, tractors, trucks & parts thereof. ($8.88M), Plastics & articles thereof ($1.62M), Optical, photo, & film equipment; medical... ($882k), Machinery, mechanical appliances, & parts ($847k), and Zinc articles ($828k). In December 2024 the top imports of South Korea from Costa Rica were Optical, photo, & film equipment; medical... ($9M), Edible fruits, nuts & fruit peels ($2.45M), Electrical machinery and electronics ($654k), Copper articles ($444k), and Machinery, mechanical appliances, & parts ($435k).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Costa Rica was explained primarily by an decrease in product exports in Iron/Steel Articles ($-629k or -54.5%), Aluminum articles ($-266k or -25.7%), and Pharmaceutical products ($-211k or -33.1%). In December 2024, the increase in South Korea's year-by-year imports  from Costa Rica was explained primarily by an increase in product imports  in Edible fruits, nuts & fruit peels ($2.13M or 663%), Machinery, mechanical appliances, & parts ($321k or 282%), and Copper articles ($296k or 200%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-1.5M(-8.1%)
IMPORT GROWTH (December 2023 - December 2024)$13.5M(112%)

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

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $285M to Costa Rica. The main products exported from South Korea to Costa Rica were Cars ($93.8M), Vaccines, blood, antisera, toxins and cultures ($15.8M), and Buses ($11.2M). During the last 5 years the exports of South Korea to Costa Rica have increased at an annualized rate of 8.48%, from $190M in 2018 to $285M in 2023.

In 2018, Costa Rica exported $62.6M to South Korea. The main products exported from Costa Rica to South Korea were Medical Instruments ($18.6M), Bananas ($13.1M), and Coffee ($10.1M). During the last 5 years the exports of Costa Rica to South Korea have decreased at an annualized rate of 20.8%, from $200M in 2023 to $62.6M in 2018.

Exports from South Korea (Flag) to Costa Rica (Flag) (2023)

Exports from Costa Rica (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Costa Rica
Top DestinationUnited States$9.5B

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 2023, countries that imported more from South Korea than Costa Rica included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Costa Rica than South Korea included Nicaragua ($661M), Honduras ($575M), and Guatemala ($846M).

Difference in imports from Costa Rica (Flag) and South Korea (Flag) (2023)

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 2023, South Korea had a large net trade with Costa Rica in the exports of Transportation ($117M), Machines ($43.5M), and Metals ($40.5M).

During 2018, Costa Rica had a large net trade with South Korea in the exports of Vegetable Products ($26.1M), Instruments ($20.5M), and Metals ($8.84M).

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) (2023)

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