2022
Flag  
GDP
$41.7BCURRENT US$
Rnk 96 / 186
2012-2022
Flag
GDP GROWTH
25.3%CURRENT US$
Rnk 110 / 186
2022
Flag
 GDP
$68.4BCURRENT US$
Rnk 83 / 186
2012-2022
Flag
GDP GROWTH
44.8%CURRENT US$
Rnk 76 / 186
2022
Flag
GDP PC 
$6,153CURRENT US$
Rnk 102 / 186
2012-2022
Flag
GDP PC GROWTH
9.46%CURRENT US$
Rnk 120 / 186
2022
Flag
GDP PC
$13,199CURRENT US$
Rnk 66 / 186
2012-2022
Flag
GDP PC GROWTH
32.4%CURRENT US$
Rnk 60 / 186

About

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.

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 8.96%,  from $1.78M in 2017 to $922k in 2022.

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

Comparison: In 2022,  Paraguay ranked 81 in the Economic Complexity Index (ECI -0.34), and 103 in total exports ($10.1B). That same year, Costa Rica ranked 51 in the Economic Complexity Index (ECI 0.32), and 82 in total exports ($17.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, 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 2017 to $3.9M in 2022.

In 2017, 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 8.96%, from $1.78M in 2022 to $922k in 2017.

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

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

Latest Data

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

Paraguay Exports

Costa Rica Exports

Market Competitiveness

Color
Paraguay
Top Destination
Brazil$3.67B
Costa Rica
Top Destination
United States$6.83B

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

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

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

Comparative Advantage Paraguay - Costa Rica

Flow
Scale

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

During 2022, 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).

During 2017, Costa Rica had a large net trade with Paraguay in the exports of Instruments ($531k), Machines ($260k), and Plastics and Rubbers ($78.6k).

Potential Exports

Potential Exports

Depth
View
Sort By
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

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.

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

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