• Costa Rica

    Costa Rica

    Development Challenges
    Costa Rica is one of the most politically stable countries in Latin America . It also holds the top position of the “happy planet” index, and is the “greenest” country in the world. Internationally, it has played a key role within Central American integration and the implementation of the Mesoamerica Project. Its economy continues to benefit from economic growth and high commodity prices. While the traditional agricultural exports of bananas, coffee, sugar and beef continue to be an important source of income, Costa Rica’s economy has been broadened in recent years through a combination of global high-tech corporations, pharmaceuticals, financial outsourcing, software development and ecotourism. Nevertheless, the country faces development challenges, including:

    • Upgrade infrastructure
    • Poverty
    • Trade deficit
    • Good governance
    • Improve the business environment

    Key Trade Issues

    • Reinforce the integration within Central American Common Market
    • Attract Foreign Direct Investment in tourism, manufacturing, services and infrastructure
    • New investments in infrastructure
    • International relevance and brand recognition
    •  Implement the Association Agreement signed, as part of Central American Common Market, with the European Union
    • Implement the DR- CAFTA
    • Diversify its export markets, with a particular focus on Asia, where Free Trade Agreements (FTAs) have been ratified with China, have been signed (Singapore) or are being negotiated (South Korea)

    Government Priorities

    • To become the first carbon-neutral country by 2021
    • Pass a tax reform to reduce the fiscal deficit and finance social security schemes
    • Continue regional and international cooperation
    • Reestablish regional relationships, especially with Cuba and Nicaragua
    • Combat drug trafficking
    • Liberalise the insurance, telecommunications and power sectors 
       

    Trade and Tariff Graphs

    Graphs of the country’s export markets, its export performance in a key sector and tariffs exporters of a sample product face.
    Trademap sample Trademap sample: The map uses color codes to illustrate the relative size of different markets in the overall exports of the country shown in pink.
    Trademap sample Trademap sample: The vertical axis shows import values by key importing countries, while the horizontal axis shows export values by the country for the same sector. I.e. the country has gained market share in the case of an importing country at the bottom right of chart and lost market share for countries top left. The size of circles is proportional to market size.
    Market access map sample Market access map sample: The world map shows trade values and tariff levels for a key export product by importing countries. Color codes indicate protection levels. Red circles denote trade volumes.

    Trade and Investment Data

    Detailed data on the country’s export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP).

    Trade Information Sources

    A listing of country specific print and online publications on trade related topics. Includes information from both ITC and external sources.

    Trade Contacts

    The most important trade contacts, including importers’ and exporters’ associations, trade support institutions, trade promotion organizations and institutions providing business development assistance.