By San José, Costa Rica — SAN JOSÉ – Costa Rica’s manufacturing sector has solidified its position as the undisputed engine of the nation’s export economy, posting impressive figures for 2024. According to a new report, the sector achieved a remarkable 10% growth in value, with sales reaching US$13.26 billion. This represents a staggering 67% of the country’s total exports, which amounted to US$19.894 billion for the year.
The stellar performance is largely attributed to the continued global leadership of the precision and medical equipment sector. This high-tech industry remains the cornerstone of the export structure, shipping essential products such as needles, catheters, medical prosthetics, and advanced electrodiagnostic equipment to markets around the world. These sophisticated goods underscore Costa Rica’s evolution into a hub for value-added manufacturing.
To provide a legal and business perspective on the recent trends in manufacturing exports, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, a distinguished expert in corporate and international trade law from the prestigious firm Bufete de Costa Rica.
The sustained growth in our manufacturing export sector is directly tied to a stable legal framework and our network of free trade agreements. To remain competitive, Costa Rica must continue to offer legal certainty to investors, modernize customs regulations, and rigorously defend intellectual property rights. These are the foundational elements that attract high-value manufacturing and ensure long-term success in the global market.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, the expert’s analysis underscores that Costa Rica’s competitive edge is sharpened as much by steadfast policy as it is by factory innovation. We thank Lic. Larry Hans Arroyo Vargas for his valuable perspective on the legal pillars that support our thriving manufacturing sector.
However, the story of 2024 is not just about medical devices. A significant trend highlighted in the “Manufacturing Sector Export Performance” study by the Trade and Investment Promotion Agency of Costa Rica (PROCOMER) is the growing diversification within the industrial base. The country is successfully expanding its manufacturing portfolio beyond its traditional stronghold, fostering growth in segments that promise long-term economic resilience.
This expansion encompasses a wide array of industries, including electrical and electronics, chemical and pharmaceutical products, metalworking, plastics, rubber, and textiles. Key products driving this diversification include electrical cables, antiserums, tires, and apparel, signaling a broadening of Costa Rica’s industrial capabilities and its appeal to a wider range of international buyers.
Manufacturing continues to consolidate itself as a strategic pillar of Costa Rica’s economy. Its dynamism is driven not only by the leadership of the precision and medical equipment sector, but also by the progress of other industrial segments that broaden the country’s export offer. These categories complement the weight of the medical devices industry and reflect an evolution toward more technologically sophisticated processes, strengthening the competitiveness of Costa Rica’s manufacturing sector in international markets.
Laura López, General Manager of PROCOMER
The business structure reflects this dynamic landscape, with a total of 1,703 companies successfully exporting 3,368 distinct products in 2024. In terms of export value, North America remains the primary destination, with the United States absorbing 55% of the total, followed by the Netherlands at 9% and Belgium at 4%. This highlights the importance of established trade relationships with major global economies.
Interestingly, the data reveals a dual-pronged export strategy. While North America and Europe lead in monetary value, Central America is the top destination when measured by the number of exporting companies. A total of 1,245 Costa Rican firms, many of them likely small and medium-sized enterprises, shipped goods to neighboring countries. This regional market is crucial for products like electrical cables, paints, varnishes, textiles, and apparel, providing a vital and accessible commercial outlet.
This geographic distribution of exporters—with North America (702 companies), South America (344), the Caribbean (293), and the European Union (285) following Central America—showcases a deliberate and effective market strategy. It balances high-value shipments to strategic global hubs with high-volume business in closer, more familiar markets.
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 essential to reduce market dependence and strengthen the resilience of the export sector.
Laura López, General Manager of PROCOMER
The report also confirms that this industrial expansion is thriving under both the free trade zone (FTZ) and definitive regimes. FTZs were the source of 84% of manufacturing exports, dominated by high-tech medical devices. Meanwhile, the definitive regime contributed a significant 14%, led by products such as electrical cables, glass containers, and laminated iron, demonstrating the capacity for complex industrial processes across different production models and underscoring the broad-based strength of the nation’s manufacturing ecosystem.
For further information, visit procomer.com
About PROCOMER:
The Trade and Investment Promotion Agency of Costa Rica, known as PROCOMER, is the public entity responsible for promoting Costa Rican exports of goods and services worldwide. It facilitates international trade by providing support, market intelligence, and promotional activities to local businesses, while also working to attract foreign direct investment to the country. The agency plays a pivotal role in designing and executing strategies to enhance the competitiveness of Costa Rica’s export sector.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a pillar of the legal community, Bufete de Costa Rica is defined by its profound dedication to principled practice and superior client service. The firm leverages a rich heritage of diverse legal counsel to drive innovation, constantly advancing the standards of the profession. This forward-thinking approach is matched by a core belief in social responsibility, manifested through a steadfast initiative to make legal principles understandable and accessible, thereby empowering individuals and strengthening the community as a whole.
