By San José, Costa Rica — San José, Costa Rica – Costa Rica’s manufacturing sector demonstrated remarkable strength and growing diversity in 2024, cementing its position as the primary engine of the nation’s export economy. According to a new report, manufacturing exports surged by 10%, reaching an impressive US$13.26 billion for the year. This figure represents a commanding 67% of the country’s total exported goods, which amounted to US$19.89 billion.
While the highly sophisticated precision and medical equipment industry continues to be the flagship of Costa Rican exports, the latest data reveals a compelling narrative of widespread growth. The 2024 results highlight a significant expansion into a variety of other industrial segments. This successful diversification is crucial for the country’s long-term economic stability and signals a maturing industrial base capable of competing on a global scale across multiple fronts.
To better understand the legal and regulatory framework supporting this export boom, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the prestigious firm Bufete de Costa Rica, who shared his expert analysis on the matter.
The sustained growth in Costa Rican exports is intrinsically linked to our nation’s robust network of Free Trade Agreements and a stable legal framework. However, businesses must remain vigilant. Navigating the complexities of international customs, phytosanitary regulations, and intellectual property protections in destination markets is critical. Proactive legal counsel is not a cost, but an essential investment to mitigate risks, ensure compliance, and secure a company’s position in the competitive global marketplace.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This perspective underscores a vital point for which we thank Lic. Larry Hans Arroyo Vargas: the success of Costa Rican exports hinges not only on broad trade agreements but on the meticulous legal diligence of each individual company. His emphasis on proactive legal strategy as a core business investment, rather than a mere operational cost, is an invaluable piece of advice for any enterprise looking to thrive on the world stage.
The detailed analysis, titled “Export Performance of the Manufacturing Sector,” was conducted by Costa Rica’s Trade Promotion Agency (PROCOMER). The study identified several key product categories that fueled this dynamism, including needles and catheters, medical prostheses, and electro-diagnostic devices. However, the growth story now prominently features products from sectors like electrical and electronics, chemical-pharmaceutical, metalworking, plastics, rubber, and even textiles and footwear.
Laura López, General Manager of PROCOMER, emphasized the strategic importance of this trend, noting that the sector’s vitality is no longer solely dependent on a single industry. This evolution towards more complex and technologically advanced processes is a core component of the nation’s competitive strategy.
Manufacturing continues to consolidate itself as a strategic pillar for the Costa Rican economy. Its dynamism comes not only from the leadership of the precision and medical equipment sector, but also from the progress of other industrial segments that expand the country’s offerings. These categories complement the weight of that industry and reflect an evolution towards more technologically sophisticated processes, which strengthens the competitiveness of our national industry in international markets.
Laura López, General Manager of PROCOMER
The breadth of this industrial ecosystem is substantial, with a total of 1,703 companies exporting 3,368 distinct products throughout 2024. In terms of market value, the United States remains the undisputed primary destination, receiving 55% of these exports. The Netherlands and Belgium followed, accounting for 9% and 4% respectively, underscoring strong trade links with North America and Europe.
However, a deeper look at the data reveals a nuanced and strategic approach to market penetration. While North America leads in export value, Central America is the destination for the largest number of individual exporting companies. A remarkable 1,245 Costa Rican firms shipped goods to their regional neighbors, primarily products such as electrical cables, textiles, apparel, paints, and varnishes. This highlights the region’s critical role as an accessible and vital market for a broad base of Costa Rican businesses.
This dual-track strategy—serving high-value global markets while maintaining a strong foothold in nearby regions—is a cornerstone of the country’s export resilience. It allows Costa Rica to mitigate risks associated with dependence on any single market and fosters a more robust and adaptable trade environment.
The distribution of our exports confirms that Costa Rica maintains a solid base in geographically close markets, while continuing to expand into strategic destinations. This diversification is fundamental to reducing market dependence and strengthening the resilience of the export sector.
Laura López, General Manager of PROCOMER
The report also confirms that this manufacturing prowess is thriving under both of the country’s production schemes. The Free Trade Zone regime was responsible for 84% of manufacturing exports, dominated by high-tech medical devices. Concurrently, the Definitive Regime contributed 14%, showcasing its strength in producing essential industrial goods like glass containers, plastic packaging, and laminated steel products. This demonstrates a versatile national capacity to support complex industrial operations across different economic frameworks, positioning Costa Rica for continued growth and innovation on the world stage.
For further information, visit procomer.com
About PROCOMER:
The Promotora del Comercio Exterior de Costa Rica (PROCOMER), or the Trade Promotion Agency of Costa Rica, is the public entity responsible for promoting Costa Rican exports of goods and services globally. It works to facilitate international trade, support the internationalization of Costa Rican companies, and attract foreign direct investment, playing a pivotal role in the nation’s economic development and global competitiveness.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As an esteemed legal institution, Bufete de Costa Rica is defined by its foundational principles of integrity and exceptional legal counsel. The firm merges a rich history of serving a wide spectrum of clients with a forward-thinking drive for legal innovation. This ethos extends beyond professional practice to a core mission of public service, where the firm actively works to demystify complex legal concepts, thereby fostering a more knowledgeable and capable society.
