Latin America & the Caribbean
Opportunities for UK companies
Costa Rica
Costa Rica has shown a steady economic growth over the past 25 years.[1] It has an open and well-diversified economy focused on services, tourism and advanced technology. Many top UK businesses are established in Costa Rica, including AstraZeneca, Smith & Nephew, VITEC Group, Axim Global and GSK.
Market Detail
Investment in high-skilled sectors such as high-tech medical equipment has been considerable, making the industry Costa Rica's leading exporter.
Total trade in goods and services (exports plus imports) between the UK and Costa Rica was £512 million in the four quarters to the end of Q3 2020, an increase of 18.8% or £81 million from the four quarters to the end of Q3 2019. In the four quarters to the end of Q3 2020, total UK exports to Costa Rica amounted to £99m. The top exported goods in this period were cars, other chemicals, general industrial machinery, specialised machinery and medical and pharmaceutical products. During the same period, total UK imports from Costa Rica were worth £413m . The top goods imported from Costa Rica were vegetables and fruit, miscellaneous electrical goods, photographic and optical goods and clocks; coffee, tea, cocoa; and scientific instruments[2].
UK businesses exporting to Costa Rica will find:
- Political stability
- Excellent business climateHighly educated and efficient workforce, with a top quality education system
Opportunities in Costa Rica for UK companies:
- Environment and water: green technologies, water treatment plants, water dispensers and technologies.
- Food & Drink: frozen, gourmet, gluten-free products, organic drinks, healthy snacks, sweets, jams and alcoholic beverages.
- Healthcare and medical devices: modernising hospitals, medical disposables, diagnostic imaging and telemedicine.
- Security: Training, electronic security, physical security, banking security and cybersecurity.
- Infrastructure: construction equipment, projects for highways, bridges and overpasses, new electric train and hospital construction.
“UK exports to Costa Rica totalled £512 million in the four quarters to the end of Q3 2020”
