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

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Paraguay-Costa Rica Trade: In 2023, Paraguay exported $14.1M to Costa Rica. The main products that Paraguay exported to Costa Rica were Rice ($5.94M), Packaged Medicaments ($5.16M), and Starches ($889k). Over the past 5 years the exports of Paraguay to Costa Rica have increased at an annualized rate of 11.9%, from $8.02M in 2018 to $14.1M in 2023.

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

Costa Rica-Paraguay Trade: In 2023, Costa Rica exported $3.71M to Paraguay. The main products that Costa Rica exported to Paraguay were Medical Instruments ($1.53M), Office Machine Parts ($680k), and Electrical Control Boards ($405k). Over the past 5 years the exports of Costa Rica to Paraguay have increased at an annualized rate of 34.3%, from $849k in 2018 to $3.71M in 2023.

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

Comparison: In 2023, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B). That same year, Costa Rica ranked 48 in the Economic Complexity Index (ECI 0.34), and 73 in total exports ($23.7B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Paraguay exported $14.1M to Costa Rica. The main products exported from Paraguay to Costa Rica were Rice ($5.94M), Packaged Medicaments ($5.16M), and Starches ($889k). During the last 5 years the exports of Paraguay to Costa Rica have increased at an annualized rate of 11.9%, from $8.02M in 2018 to $14.1M in 2023.

In 2018, Costa Rica exported $3.71M to Paraguay. The main products exported from Costa Rica to Paraguay were Medical Instruments ($1.53M), Office Machine Parts ($680k), and Electrical Control Boards ($405k). During the last 5 years the exports of Costa Rica to Paraguay have increased at an annualized rate of 34.3%, from $849k in 2023 to $3.71M in 2018.

Exports from Paraguay () to Costa Rica () (2023)

Exports from Costa Rica () to Paraguay () (2023)

Latest Data

Trade between Paraguay () and Costa Rica ()

Paraguay Exports

Date

Costa Rica Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Paraguay
Top DestinationArgentina$4B

Costa Rica
Top DestinationUnited States$9.5B

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

In 2023, countries that imported more from Paraguay than Costa Rica included Argentina ($4B), Brazil ($3B), and Chile ($1.26B).

In 2023, countries that imported more from Costa Rica than Paraguay included United States ($9.5B), Netherlands ($1.52B), and China ($1.17B).

Difference in imports from Costa Rica () and Paraguay () (2023)

Comparative Advantage Paraguay - Costa Rica

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Paraguay had a large net trade with Costa Rica in the exports of Vegetable Products ($7.34M), Chemical Products ($5.21M), and Foodstuffs ($739k).

During 2018, Costa Rica had a large net trade with Paraguay in the exports of Instruments ($1.88M), Machines ($1.12M), and Plastics and Rubbers ($366k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Paraguay Costa Rica+$640kPackaged Medicaments

Top Product Potential Costa Rica Paraguay+$492kMedical 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

Year

This visualization shows the product space at the HS4 level with the flags of Paraguay and Costa Rica. This means that a dot/product with the flag of Paraguay 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 Paraguay.

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Historical Data

Bilateral Trade by Products

Exports from Paraguay () to Costa Rica () (2023)

Exports from Costa Rica () to Paraguay () (2023)

Latest Data

Trade between Paraguay () and Costa Rica ()

Paraguay Exports

Costa Rica Exports

Market Competitiveness

Difference in imports from Costa Rica () and Paraguay () (2023)

Comparative Advantage Paraguay - Costa Rica

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Paraguay () and Costa Rica () (2023)

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