Costa Rica: Perfil comercial

Foreign Trade in Figures

Costa Rica is very open to foreign trade, which represents 71% of GDP. The country is the 78^th largest export economy and the 87^th largest importer in the world. Costa Rica mainly exports medical instruments and appliances (28.6%), various fruits (14.8%), orthopaedic appliances (5.9%), food preparations (4.5%), and coffee (2.3%). Its main imports include petroleum oils (8.3%), medicaments (3.4%), motor vehicles (2.8%), medical instruments and appliances (2.6%), and telephone sets (2.5%). According to IMF Foreign Trade Forecasts, the volume of exports of goods and services increased by an estimated 8.8% in 2022 and is expected to increase by 5.3% in 2023, while the volume of imports of goods and services increased by an estimated 4.6% in 2022 and is expected to increase by 4.2% in 2023.

Costa Rica's main trade partners are the United States, China, Guatemala, the Netherlands, Mexico, Belgium, Panama, and Germany. There are no significant trade barriers affecting the entry of most goods and services into Costa Rica. Customs duties in are relatively low, and in general do not exceed 15% - with the exception of dairy products, livestock and agricultural products. No tax is levied on imports coming from Mexico, Guatemala, Honduras, El Salvador and Nicaragua. Costa Rica offers many incentives for export companies, especially export subsidies and tax exemptions granted to export companies. Greater transparency is expected, due to a rational and comprehensive evaluation of this incentive policy, which could boost foreign trade over the long term. Moreover, exports of high-value goods, such as electronics and medical equipment, which are supported by government, play a key role in stimulating foreign trade. Costa Rica is a member of CARICOM and has several trade agreements with numerous countries, including the EU, Peru, China, Singapore, and the countries in Central America. In 2021, Costa Rica became an OECD member, and the country is also in process of becoming a full member of the Pacific Alliance.

In 2021, exports of goods totalled USD 15,4 billion, while imports equalled USD 20,7 billion, resulting on a trade deficit of USD 2,8 billion. Concerning the trade of services, the imports amounted to USD 4,6 billion and the exports to USD 8,9 billion, thus Costa Rica was a net exporter of trade in 2021. The country's structural deficit is due to the fact that a large proportion of manufactured exports depend on imported inputs, as well as the reliance on imports of consumer good. According to estimates, Costa Rica should maintain a trade deficit over the medium-term. Exports are expected to perform strongly on increased external demand for both capital and agricultural goods, mainly medical devices, pineapples, bananas. However, that increase should not offset the growth in imports, driven by demand for capital goods and commodities, notably hydrocarbons.

Main Partner Countries

Source: Comtrade, Latest Available Data

Main Products

Source: Comtrade, Latest Available Data

To go further, check out our service Import Controls and Export Controls

To go further, check out our service Import Export Flows

Main Services

Source: United Nations Statistics Division, Latest Available Data

List of tariffs and local taxes that apply to your product on our service Customs Duties and Local Taxes

Trade Compliance

International Conventions

Member of the World Trade Organization (WTO)

International Economic Cooperation

Consult the Free Trade Agreement signed by Costa Rica.
Member of Central American Common Market (CACM)
Member ofLatin American Integration Association (ALADI) (in Spanish)
Member of Group of 77 (G-77)

Useful Resources

Customs web site

National Organisation of Intellectual Property

The National Registry of Intellectual Property.

 

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Latest Update: November 2023