What is the value of US trade with Costa Rica?
Updates published annually
$17.4 billion in imports and $12.2 billion in exports in 2024. That means that the US imported $5.18 billion more from Costa Rica than we exported to it. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation.
$17.4B
Value of imports from Costa Rica to the US (2024)
$12.2B
Value of exports from the US to Costa Rica (2024)
Exports are goods and services the US sells to other countries. Imports are goods and services the US buys from other countries. Combining the value of imports and exports shows us how much trade happens between the US and other countries.
The Bureau of Economic Analysis (BEA) provides data for 71 of the US' trading partners (though not necessarily the top 71 trading partners). The partners they track accounted for 94.3% of total trade with the US in 2024.
BEA data ranks Costa Rica as the US’ 37th top trading partner: In 2024, the US traded $29.5 billion in goods and services with Costa Rica. Countries with similar trade values include Luxembourg ($32.5B) and Austria ($27.1B).
In 2024, the US traded $29.5 billion in goods and services with Costa Rica.
Total trade value (imports + exports) with the US (2024), by select countries
Another way to look at international trade is through trade balance. A nation that imports more than it exports, has a trade deficit. One that exports more than it imports has a trade surplus. Neither is inherently good or bad; trade balance is just a metric that shows the relationship between imports and exports.
The US has had a trade deficit with Costa Rica every year from 2019 through 2024. The 2024 deficit was $5.18 billion, a decrease from 2023's deficit of $3.98 billion.
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The trade deficit with Costa Rica increased to $5.18B in 2024.
Annual trade balance with Costa Rica, not adjusted for inflation
In 2024, 67.7% of imports from Costa Rica to the US were goods. The largest category was capital goods (tools used for the production process, like machinery and equipment), accounting for $6.14 billion. The top three imports were capital goods, food, feeds, and beverages, and consumer goods (goods and services purchased by individuals for personal use, like clothing and cellphones). These categories accounted for $9.89 billion of total imports.
The other 32.3% were services, with travel being the largest service category. Travel (money leaving the US by Americans spending on things like lodging, meals, transportation, and entertainment abroad) accounted for $2.65 billion.
Capital goods made up 35.4% of US imports from Costa Rica in 2024.
US imports from Costa Rica by category (2024)
In 2024, more US exports to Costa Rica were goods — 79.1%. The largest export was industrial supplies and materials (items used up in the production process, like oil, chemicals, and plastic), which accounted for a value of $4.22 billion. The top three exports were industrial supplies and materials, capital goods, and consumer goods. These categories accounted for $8.02 billion of exports to Costa Rica.
The other 20.9% were services, with travel being the largest service category. Travel (money entering the US from foreign visitors on expenses like lodging, meals, transportation, and entertainment) accounted for $993 million.
Industrial supplies and materials made up 34.6% of US exports to Costa Rica in 2024.
US exports to Costa Rica by category (2024)
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
