Costa Rica Export Data

Costa Rica's Import/Export Overview and Domestic Market Analysis

Imports & Exports

• Top Trade Partners: Costa Rica's principal trading partners include the United States, China, and Mexico, reflecting a diverse but US-centric trade relationship.

• Top 5 Imports: Among the leading imports are machinery, vehicles, pharmaceuticals, plastics, and oil. These commodities collectively account for a significant portion of the total imports, shaping the nation's industrial and consumer needs.

• Top 5 Exports: Costa Rica's main exports consist of medical equipment, bananas, coffee, pineapples, and integrated circuits. Exports in these sectors make up a considerable share of the country's total export revenue, highlighting the importance of agriculture and high-tech industries.

• Trade Balance: The country faces a trade deficit, importing more than it exports. Government policies have been aimed at promoting exports to mitigate this imbalance, focusing on niche markets and value-added products.

• Trade Policies: The Costa Rican government supports free trade agreements that facilitate access to global markets, while also implementing measures to protect domestic industries from international competition.

Domestic Market

• Consumer Spending: Consumer spending in Costa Rica remains stable, driven by a growing middle class. However, recent economic uncertainties have led to more cautious spending habits among the populace.

• Interest Rates & Inflation: The Central Bank of Costa Rica has maintained relatively low interest rates to encourage economic growth. Inflation has been a concern due to global economic pressures, affecting the cost of living and purchasing power.

• Supply Chain Resilience: The nation's supply chain has shown resilience despite global disruptions. Efforts are being made to strengthen local production capabilities to reduce dependence on foreign imports.

• Sectoral Performance: The tourism, technology, and agricultural sectors have exhibited strong performance. The government is also investing in renewable energy and green technologies to diversify the economy and attract sustainable foreign investment.

Overall Outlook

Despite challenges such as economic volatility and a persistent trade deficit, Costa Rica's economy is resilient. The country is strategically positioned to leverage its strengths in niche markets, bolstered by a commitment to sustainable development and a focus on innovation.