Costa Rica market overview
Doing business in Costa Rica remains attractive for companies looking to expand their operations into Latin America.
With its strong sustainability culture, world-class education, talented and digitally-savvy workforce, Costa Rica offers a budding platform for Canadian companies to settle, develop and succeed in their respective sectors. Costa Rica offers niche and lucrative opportunities for Canadian companies that wish to invest in education services, clean technology, ICT and infrastructural activities such as public-private partnerships (PPPs). Furthermore, the Costa Rican market differentiates itself from other markets with its favorable tax climate, stable economic environment and integrated ecosystem that favours growth including investment incentives, local knowledge, expertise from manufacturing suppliers, and inclusive partnerships.
The Canadian Trade Commissioner Service (TCS) will assist Canadian companies who want to take advantage of niche opportunities in Costa Rica by providing with practical advice and on-the-ground intelligence that will support market entry.
Key facts about the Costa Rican market
- Costa Rica is Canada’s second largest trading partner in Central America (CA) region (Source: Statistics Canada)
- Costa Rica and Canada have a Free Trade Agreement (CCRFTA) which entered into force on November 01, 2002.
- Costa Rica and Canada also have bilateral agreements on Air Transport (2012), Environmental Cooperation (2002), and Labour Cooperation (1999)
- Costa Rica is a member of the OECD and the OAS
- GDP stood at US$64.28 billion in 2021 (The World Bank figures)
Trade between Costa Rica and Canada
- Bilateral merchandise trade in 2022 reached CA$914 million.
- Merchandise exports from Canada to Costa Rica totaled CA$273.6 million (2022, Statistics Canada).
- Imports from Costa Rica totaled CA$640.4 million (2022, Statistics Canada).
Priority sectors active in the market
- Agriculture & Processed Foods
- Clean Technologies & Renewable Energy
- Information and Communication Technology
- Infrastructure, Building Products, and Services
- Education
Leading imports into the Canadian market
- Optical, medical, photographic, scientific, and technical instruments
- Edible fruits and nuts
- Rubber tires
- Coffee
- Electrical equipment
Leading exports from the Canadian market
- Wheat
- Optical, medical, photographic, scientific, and technical instrumentats
- Fertilizers
- Machinery
- Frozen vegetables
Market information
Country facts – Costa Rica
Get information about Costa Rica from The Costa Rican Investment Promotion Agency (CINDE).
Ministry of Foreign Trade (COMEX) - Costa Rica (Spanish only)
Learn about Costa Rica's trade and investment policies, status of the free trade agreements and trade statistics.
Learn more about the Canada - Costa Rica Free Trade Agreement
Take advantage of Canada’s preferential trading relationship with Costa Rica.
Contact a Trade Commissioner – Embassy of Canada in Costa Rica
Get help with export advice and guidance to help you achieve your international business goals. Our trade commissioners can provide you with key business insights and access to an unbeatable network of international contacts.
