Costa Rica consistently posted trade deficits from 2017 to 2023, with the deficit narrowing from -6,793.9 million USD in 2018 to -5,014.3 million USD in 2023. The improvement in 2023 reflects increased export revenues from medical devices and agricultural products, alongside moderated import growth.
The pandemic-induced slowdown in 2020 saw the deficit shrink to -2,622.7 million USD, but subsequent years reflected a return to pre-pandemic trade patterns, with imports of machinery and consumer goods driving the gap. Costa Rica’s focus on high-value exports like electronics and sustainable agriculture has helped stabilize the trade balance, but the deficit underscores ongoing reliance on imported energy and industrial goods.
The pandemic-induced slowdown in 2020 saw the deficit shrink to -2,622.7 million USD, but subsequent years reflected a return to pre-pandemic trade patterns, with imports of machinery and consumer goods driving the gap. Costa Rica’s focus on high-value exports like electronics and sustainable agriculture has helped stabilize the trade balance, but the deficit underscores ongoing reliance on imported energy and industrial goods.
For additional information, visit statistics on Costa Rica’s population growth rate, Costa Rica’s export value, Costa Rica’s population density.
