Please Sign in to view recently saved searches.
Costa Rica is located in Central America. It is bordered by the Caribbean Sea to the east, the Pacific Ocean to the west, Nicaragua to the north, and is adjacent to Panama to the southeast.
The official language of Costa Rica is Spanish. English has a relatively high penetration rate among people with a high level of education.
Costa Rica is a member of the World Trade Organization (WTO), the Organization for Economic Cooperation and Development (OECD), and the Central American Integration System. It has respectively signed free trade agreements with Chile, China, Singapore, Central America, the United States, Colombia, Peru, Mexico, Canada, Panama, the Dominican Republic, the Caribbean Community (CARICOM), the European Union, the European Free Trade Association (EFTA), South Korea, the United Kingdom, Ecuador and many other countries or organizations, covering more than 51 countries and 2.5 billion people.
Costa Rica has signed bilateral investment promotion and protection agreements with countries (regions) such as Argentina, Belgium, Luxembourg, Bolivia, Canada, Chile, the Czech Republic, Ecuador, El Salvador, Finland, France, Germany, the Netherlands, South Korea, Paraguay, China, Spain, Switzerland, the United Kingdom, and Venezuela.
【Foreign trade data of Costa Rica in 2023】
In 2023, Costa Rica's foreign trade in goods exceeded 40 billion U.S. dollars for the first time, reaching 40.6 billion U.S. dollars, an increase of 9.5% over the previous year.
Costa Rica exported 18.1 billion U.S. dollars, an increase of 15.2% year-on-year. The main export products are medical and dental instruments and supplies, bananas, pineapples, canned fruits and vegetables, rubber and plastic products, coffee, etc. The main export markets are the United States, the European Union and neighboring countries in Central America.
Costa Rica imported 22.5 billion U.S. dollars, an increase of 5.2% year-on-year. The main import products are mechanical parts, various types of automobiles, plastic products, gasoline and diesel, pharmaceutical products and basic steel products. The main sources of imports are the United States, China, Mexico, the European Union, etc.
【Foreign trade data of Costa Rica in July 2024】
As of July 2024, the trade balance of goods accumulated a negative gap of USD 2,349.6 million.
In the average growth of imports as of July, the dynamism in purchases by companies under the definitive regime influenced, while the negative evolution in those under the special regime continues. For the latter, the result observed in July stands out, which gives continuity to the relative improvement of the second quarter (an increase of 5.9% compared to a reduction of 13.1% and 9.1% in the first and second quarters of this year).
In particular, the oil bill amounted to USD 1,483.1 million, for a year-on-year increase of 7.6%, which combined a 9.5% growth in the quantity of barrels (diesel, fuel oil) with a 1.8% reduction in the average price of the hydrocarbon mixture.
Regarding exports, although the result as of July is related to the evolution in sales by companies under the special regime (medical implements and, to a lesser extent, concentrates for carbonated beverages), the acceleration in the growth of exports of manufactured products of the definitive regime in the last four months (sugar, glass containers, dairy products and meat) stood out, while there was a contraction in agricultural exports, particularly of bananas.
According to the destination market, the best performing ones were North America and Europe with growths of 12.4% and 9.3% respectively (14.0% and 17.4% a year ago, in the same order). Their evolution reflected greater sales of medical implements and pineapples. The indicated evolution for manufactured products of the definitive regime favored the sales of this group of companies to the Central America and Panama market (6.0% in the April-July four-month period from a contraction of 3.8% in the first quarter).
【Blooming Trade Data】
Costa Rica customs data is updated periodically to ensure the freshness and reliability of the data. Its data mainly includes detailed information of importers, detailed information of exporters, cargo information, freight information, and key price and volume information such as commodity trading volume, transaction amount, and transaction unit price, helping you easily grasp the import and export market information of Costa Rica.
Are you looking to understand market demand in Costa Rica? Do you want to expand your international presence there? Are you seeking stronger partnerships with clients and reliable suppliers in Costa Rica?
Sample Data
Would you like to stay informed about your competitors' activities in the Costa Rican market?