Navigating Trade with Costa Rica

AI-Powered Trade Analytics for Costa Rica’s export and import markets – insights, forecasts, and opportunities across key sectors.

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Quick Stats (2024–2025)

  • Goods exports (2024): US$19.89B (+9% YoY)
  • Goods exports (H1 2025): US$11.01B (+14% YoY)
  • Goods & services exports (2024): US$36.77B
  • Goods imports (2024): ~US$23.68B (+5.5%)
  • Exports of goods & services (% of GDP): ~38.5%
  • Trade openness (exports+imports as % of GDP): ~71%

The Scale of Costa Rica’s Trade

Costa Rica runs a structural trade deficit, driven by heavy reliance on energy and capital goods.

  • Exports (2024): US$19.89B, led by medical devices and agriculture.
  • Imports (2024): ~US$23.68B, dominated by petroleum, machinery, and intermediate goods.
  • Deficit (2024): ~US$4.1B (narrowed thanks to strong export growth).

Top Export Pillars

  • Medical & precision devices (~44% of exports in 2024; ~47% in H1 2025)
  • Agriculture — pineapples, bananas, coffee, palm oil
  • Electrical cables & materials — smaller but steady niche

Key Import Needs

  • Petroleum and fuels
  • Pharmaceuticals
  • Electronics & components
  • Plastics and maize

Partners & Market Access

  • U.S. remains the #1 partner (~30% of exports).
  • EU (Netherlands, Belgium, Germany) is growing fast, especially for medical devices.
  • Asia is an emerging market, particularly for energy products.

Trade Trends

  • High-tech export surge: Medical devices are the #1 export, transforming Costa Rica’s trade basket.
  • Services rebound: Tourism and business services helped push total exports (goods + services) to US$36.77B in 2024.
  • Openness & risks: Trade openness is ~71% of GDP—excellent for growth, but leaves the economy exposed to global shocks.

Challenges

  • High-tech export surge: Medical devices are the #1 export, transforming Costa Rica’s trade basket.
  • Services rebound: Tourism and business services helped push total exports (goods + services) to US$36.77B in 2024.
  • Openness & risks: Trade openness is ~71% of GDP—excellent for growth, but leaves the economy exposed to global shocks.

Products & HS-Level Highlights

  • Medical devices (HS 90xx) dominate.
  • Pineapples (HS 0804), bananas (HS 0803), coffee (HS 0901) remain key agricultural staples.
  • Top imports: fuels (HS 2710), pharmaceuticals (HS 3004), electronics (HS 8525).

Public Data We Use

  • PROCOMER (official monthly export dashboards)
  • World Bank WITS & Open Data (GDP, HS-coded flows, trade openness)
  • UN Comtrade (global HS-level partner benchmarking)
  • WTO statistics (tariffs, non-tariff barriers)

How We Add Value

  • Forecast demand, prices, and market shifts
  • Benchmark competitors and unit prices
  • Flag risk scenarios (tariffs, congestion, volatility)
  • Build dashboards for interactive analysis
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