Costa Rica shipped $15.3 billion worth of products to the world in 2022. This amount represents a 6.8% increase compared to the $14.3 billion in 2021.

Costa Rica's Largest Export Customers

The latest country-specific data shows that Costa Rica's exports are mainly purchased by importers from the United States (43.8% of Costa Rica's total), the Netherlands (7.7%), Guatemala (5.3%), Belgium (5.2%), Nicaragua (3.9%), Panama (3.8%), Honduras (3.4%), El Salvador (2.5%), Mexico (2.27%), China (2.25%), Dominican Republic (2.23%) and Japan (1.7%).

Costa Rica's Top 10 Exports

1. Optical, technical, medical devices: $5.7 billion (37.4% of total exports)

2. Fruits, nuts: $2.2 billion (14.5%)

3. Miscellaneous food preparations: $878.7 million (5.7%)

4. Electrical machinery, equipment: $655.2 million (4.3%)

5. Plastics, Plastic Products: $466.1 million (3%)

6. Vegetable/Fruit/Nut Products: $442.7 million (2.9%)

7. Coffee, tea, spices: $382.0 million (2.5%)

8. Rubber, rubber products: $329.5 million (2.2%)

9. Pharmaceuticals: $327.1 million (2.1%)

10. Animal and vegetable fats, oils and waxes: $322.5 million (2.1%)

Costa Rica's top ten exports account for more than three-quarters (76.8%) of its total global exports.

Miscellaneous food preparations are the fastest growing of the top ten export categories, growing by 12.6% from 2021 to 2022. The second highest improvement in export sales was in the coffee, tea and spices category, led by Costa Rican coffee, which grew by 11.9 percent. Costa Rica ranked third in the increase in shipments of rubber as a material and rubber products, up 11.5 percent.

The only decline in Costa Rica's top 10 export categories was in Fruits and Nuts, down -3.8% year-over-year.

At the 4-digit HS code level, Costa Rica's most valuable exports in 2022 are electronic medical equipment, including X-ray machines (28.1% of Costa Rica's total), integrated circuits and microcomponents (16.7%), orthopedic instruments (7.8%), dates, figs, pineapples, mangos, avocados, and guavas (6.8%), bananas and plantains (6.6%), miscellaneous food preparations (4.9%), coffee (2.5%); insulated wires or cables (1.6%), fruit or vegetable juices (1.6%), new rubber tires (1.5%), and then palm oil (1.5%).

The Role of Customs Data

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In global trade, it is crucial to recognize the significance of customs data. When customs data is effectively aligned with business development, it greatly enhances the volume of global trade operations. Below, Tendata will elucidate three key applications of import and export data:

1. Market Analysis

Analyzing market trends and frontiers involves assessing market demands across different regions and juxtaposing product prices. This facilitates the selection of target markets with high profitability and substantial demand. Simultaneously, by querying customs data, one can gain insights into product market distribution and changing trends, enabling timely adjustments to marketing strategies.

Tendata iTrader provides access to customs data from over 80 countries (>>>Click to GET FREE ACCESS TO CUSTOMS DATA from 80+ Countries<<<), along with business data from 198 countries and over 10 billion trade records. Through multidimensional aggregation and analysis of global market information such as buyers, suppliers, countries of origin, trading cycles, and trade ports, Tendata deeply dissects target markets. This enables the formulation of guiding marketing strategies, product strategies, and competitive strategies. It optimizes production and logistics systems, achieving precision targeting. (>>>Click to GET SAMPLE DATA ONLINE<<<)

2. Customer Development

Customer development is a widely used function that involves finding potential high-quality customers through product keywords, HS codes, or filtering based on transaction frequency, scale, traded products, and trade partners. Coupled with contact information, this approach facilitates direct engagement with buyers.

Tendata combines trade data from 208 countries, business data from 198 countries and regions, and internet data from 141 countries to create a comprehensive database. With instantaneous search results, global target customers are presented in 0.01 seconds (>>>Click to Apply for Free Trial Data<<<).

3. Customer Acquisition

Customer acquisition involves examining changes in customers' trade partners to understand whether they are engaging new suppliers and if there is a need to optimize current approaches. This can also be used to analyze peer-to-peer transactions and understand peer pricing. At times, data can reflect the customer situations of peers, aiding in customer acquisition.

Tendata's in-depth customer information assists in analyzing detailed buyer profiles and provides contact details for numerous high-level executives. This represents invaluable sales material (>>>Click to Apply for Free Trial Data<<<).

Today, Tendata from Shanghai shares the extended value brought by customs data. They eagerly anticipate gradually highlighting the value of utilizing these combinations of customs data in the subsequent data functionality services of global trade Link (>>>Click to Learn More<<<).

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