Trade Balance of Goods in Costa Rica: Overview from 2017 to 2023

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.