A world leader in international trade, Costa Rica is renowned for its forward-thinking economic policies and dedication to environmental preservation. Costa Rica has developed a reputation for itself in international markets through its emphasis on modern manufacturing and high-value agricultural products. This blog explores the major exports of Costa Rica, import trends, and key trade partnerships.

Know about Costa Rica’s main exports

Exports of agricultural products, technological services, and manufactured items all contribute to Costa Rica’s strong economy. These are the major exports of Costa Rica.

Exports of Agriculture

Bananas

Among Costa Rica’s most valuable exports are bananas, a fruit that has come to represent the country’s agricultural tradition. Meeting demand in North America and Europe, the country is one of the world’s largest providers.

Pineapples

A large amount of Costa Rica’s agricultural revenue comes from pineapples, which make the country the world leader in pineapple exports.

Coffee

The country’s premium Arabica coffee is a mainstay export, mainly to markets in Europe and the United States.

Medical Instruments

Costa Rica is a prominent exporter of medical devices, which rank as the most valuable among exports for Costa Rica, accounting for over 21% of total export revenue.

Eco-Friendly Goods

Sustainable practices in Costa Rica boost the country’s export value. You may find organic and fair trade certifications on a lot of goods, especially bananas and coffee.

Recent Developments in Costa Rica’s Import List

To keep its agricultural economy continuing, Costa Rica has to buy many of the supplies it needs.

Devices and Tools

A key component of efficient production is the use of industrial and agricultural machines.

Fuels and Energy

In order to satisfy energy demands, petroleum products are still a mandatory import.

Consumer Goods

Some of the most prevalent imported goods contain automobiles and electronic devices.

Foreign Trade Indicators of Costa Rica (2019–2023)

To get a better idea of how well Costa Rica has done in trade, let’s look at some key foreign trade statistics from the last few years.

Foreign Trade Indicators of Costa Rica (2019–2023)

To get a better idea of how well Costa Rica has done in trade, let’s look at some key foreign trade statistics from the last few years.

Indicator	2019	2020	2021	2022	2023
Imports of Goods (million USD)	17,573	14,942	20,728	22,685	24,039
Exports of Goods (million USD)	11,864	12,319	15,494	16,597	19,025
Imports of Services (million USD)	4,614	3,434	4,269	5,513	6,115
Exports of Services (million USD)	10,906	7,929	8,783	12,142	14,636
Imports of Goods and Services (Annual % Change)	-2	-13	0	21	n/a
Exports of Goods and Services (Annual % Change)	4	-11	0	30	n/a
Trade Balance (million USD)	-3,868	-2,018	-2,798	-3,803	n/a
Foreign Trade (in % of GDP)	66	60	72	80	n/a
Goods and services imports (% GDP)	31	28	35	39	n/a
Goods and services Exports (% GDP)	34	32	37	41	n/a

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Key Trade Partners

Asia, North America, and Europe are all important places for for exports for Costa Rica.

Business Partners in Export 

The United States

In fact, the United States buys about 40% of Costa Rica’s goods because it is its biggest trade partner. This includes medical instruments, bananas, coffee, and other major commodities.

The Netherlands

Being a gateway to Europe, the Netherlands buys a lot of bananas and pineapples from Costa Rica.

China

The trade of agricultural and industrial items between China and Costa Rica is part of the country’s growing relationship with China.

Business Partners in Import

The United States

The United States is a major provider of technology, petroleum, and machinery to Costa Rica.

China

Consumer electronics and raw materials dominate imports from this Asian powerhouse.

Mexico and Guatemala

The agricultural and manufacturing industries of Costa Rica receive support from regional partners like Mexico and Guatemala, who provide finished products and raw materials.

New Developments in Trade

Costa Rica contributes to its position in the international market by adopting modern trade techniques.

• Organic and fair trade certifications add value to Costa Rica’s primary exports of coffee, bananas, and pineapples because of the country’s focus on sustainable agriculture.
• Costa Rica is refocusing its economy away from agriculture and toward service sectors, such as the electronics and medical device industries. The demand for Costa Rican goods in international markets has increased due to this trend.
• Costa Rica is looking to diversify its markets away from its dependency on the United States, which has made it a dominating partner in the region.

What are the difficulties and possibilities?

Costa Rica still has multiple challenges in international trade, even with its successful outcomes.

• In order to stay competitive in the export market, it is necessary to update the transportation infrastructure.
• It takes constant innovation to compete with bigger economies in agriculture and technology.
• Costa Rica has the potential to increase its exports by capitalizing on its reputation for sustainable and high-quality goods and by entering new niche markets.

Wrapping It Up

The trade dynamics of Costa Rica are a reflection of the country’s capacity to combine tradition and innovation. Costa Rica main exports, which range from coffee and bananas to medical devices, contribute considerably to the country’s economic prosperity. The country’s thriving export sector may continue to grow with the help of investments in infrastructure and the opening of new markets.

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