Key Market Indicators
Costa Rica's imports of electrical equipment are projected to decline significantly over the next five years. By 2028, imports are expected to reach approximately $1 billion, down from roughly $1.3 billion in 2023. This represents an annual decrease of around 4.4%. The trend of decreasing demand for electrical equipment in Costa Rica is not new. Since 1999, the country has seen a steady decline of about 4.6% per year in this sector. On the export side, Costa Rica faced a dramatic drop in 2023. The value of electrical equipment exports plummeted to $26 million, a sharp fall from $111 million in 2022. This marks a staggering 76.2% decrease in just one year. Long-term trends also show a consistent decline in exports, with an average annual decrease of 44.4% since 1999.
