With the Pacific Ocean to the west and the Caribbean Sea to the east, Costa Rica is a Central American nation that shares borders with Nicaragua to the north and Panama to the south. San José, the capital, is a significant hub for both political and economic activity. The tourist, electronics, agricultural, and medical device industries are expected to increase and contribute to Costa Rica's GDP, which is expected to reach USD 84.1 billion in 2024. As per Costa Rica import data, Costa Rica is the 92nd-largest importer in the world, according to international trade statistics. Strong bilateral trade links are demonstrated by the United States' notable position as the leading exporter to Costa Rica. Refined petroleum continues to be the biggest imported product, with an expected USD 29.3 billion in total import value in 2024.
The economy of Costa Rica is closely linked to international markets, particularly those in the US and Latin America. As per Costa Rica customs data, Costa Rica has increased its import base as a result of its active participation in international free trade accords, which has improved access to raw materials, gasoline, machinery, and pharmaceuticals that are necessary for the country's industrial and agricultural growth.