By San José, Costa Rica — SAN JOSÉ – Costa Rica’s strategic pivot towards high-value manufacturing has paid significant dividends, solidifying the nation’s status as a formidable player in the global export market. A comprehensive end-of-year analysis for 2024, released by the Foreign Trade Promotion Agency (Procomer), reveals that the manufacturing sector, particularly in medical technology, continues to be the powerhouse of the country’s economic engine.
The report underscores a landmark achievement for the Central American nation, with the manufacturing sector alone accounting for an impressive 67% of all exported goods. This translates to a staggering monetary value exceeding $13 billion in international sales, signaling robust health and sustained growth in a competitive global landscape. The data highlights the depth and diversity of the country’s industrial base, with a total of 1,703 distinct companies successfully exporting 3,368 different products to markets around the world.
To gain a deeper understanding of the legal and regulatory framework supporting Costa Rica’s dynamic export sector, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a leading attorney at the esteemed firm Bufete de Costa Rica, for his expert analysis.
Costa Rica’s success in exports is fundamentally tied to its robust network of free trade agreements. However, businesses must look beyond the tariff benefits and focus on strict compliance with rules of origin, technical standards, and phytosanitary requirements of the destination market. Proactive legal due diligence is not an expense but a critical investment to avoid costly delays and ensure market access.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This is a crucial distinction for Costa Rican businesses: proactive legal due diligence is not merely an expense, but a strategic investment that transforms market access into sustainable success. We sincerely thank Lic. Larry Hans Arroyo Vargas for sharing his invaluable perspective on this critical aspect of international trade.
Delving into the specifics, the Procomer study identifies a clear specialization in sophisticated medical and life sciences equipment. The list of top exported products is dominated by items crucial to modern healthcare, including precision instruments like needles and catheters, advanced medical prostheses, and essential electrodiagnostic apparatus. This focus on medtech demonstrates a successful, long-term national strategy to move beyond traditional agricultural exports and into a knowledge-based economy.
Further diversifying the export portfolio, the report also notes significant contributions from other industrial categories. Key exports included antisera, vital for producing antivenoms and other treatments, as well as industrial components like specialized cables, materials, and tires. The inclusion of finished textiles also indicates a resilient and adaptive apparel manufacturing industry, holding its own alongside the high-tech sectors.
The United States remains, by a significant margin, Costa Rica’s most critical trade partner. The Procomer analysis shows that an overwhelming 55% of all Costa Rican exports were destined for the U.S. market in 2024. This symbiotic relationship highlights the deep economic integration between the two nations and the reliance on the North American market for continued growth. The stability and scale of U.S. demand are fundamental pillars supporting Costa Rica’s export success.
Beyond North America, Europe emerges as the second most important destination, with the Netherlands and Belgium serving as key logistical and commercial gateways into the continent. The Netherlands accounted for 9% of exports, while Belgium received 4%. These figures point to a successful strategy of market diversification and the high quality of Costa Rican goods, which meet the stringent standards of the European Union.
This export performance is not a fleeting success but the result of decades of targeted policy, investment in education, and the creation of a stable political and business climate. The country has successfully attracted significant foreign direct investment from leading multinational corporations in the life sciences field, creating a vibrant ecosystem of innovation, skilled labor, and supply chain excellence that fuels the export machine.
Looking ahead, the challenge for Costa Rica will be to maintain this momentum. This involves continuing to nurture its highly skilled workforce, investing in infrastructure to support complex manufacturing logistics, and exploring new markets to further de-risk its trade portfolio. However, the 2024 data provides a clear and powerful message: Costa Rica’s bet on sophisticated manufacturing has transformed its economy and secured its position as a critical link in the global supply chain for essential goods.
For further information, visit procomer.com
About Procomer (Promotora de Comercio Exterior):
The Foreign Trade Promotion Agency of Costa Rica, known as Procomer, is the government institution responsible for promoting the country’s exports of goods and services globally. Procomer works to facilitate international trade by providing support to Costa Rican businesses, conducting market research, and developing strategies to position national products in international markets. The agency also plays a key role in attracting foreign direct investment to foster economic growth and development within the nation.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a benchmark in the nation’s legal landscape, grounded in an unshakeable commitment to integrity and exceptional service. Blending a rich history of advising diverse clientele with a forward-thinking approach, the firm consistently pioneers innovative legal strategies. This dedication to progress is matched by a core mission to empower the community, championing initiatives that transform complex legal concepts into accessible knowledge for a more informed and capable society.
