Costa Rica: More Than a Medtech Manufacturing Mecca

It may be small (in size), but Costa Rica is becoming quite the hefty manufacturing powerhouse.

By the end of 2024, manufacturing consolidated its role as a key export driver, accounting for 67% of Costa Rica’s total exports, with sales reaching $13.26 billion out of the $19.894 billion recorded during the year. The manufacturing sector grew by 10%, fueled mainly by precision and medical equipment—a cornerstone of the country’s export base—along with the emergence of new segments that broadened the manufacturing portfolio beyond medical devices.

Consequently, Costa Rica is expanding its manufacturing exports across such sectors as electrical and electronics, chemical and pharmaceutical products, metalworking, plastics, rubber, textiles, leather and footwear, among others.

According to a Manufacturing Sector Export Performance study prepared by the Trade and Investment Promotion Agency of Costa Rica (PROCOMER), the products leading the sector’s momentum in 2024 included needles and catheters, medical prosthetics, electrodiagnostic equipment, cables and electrical materials, antiserums, tires, textiles and apparel.

“…manufacturing continues to consolidate itself as a strategic pillar of Costa Rica’s economy. Its dynamism is driven not only by the leadership of the precision and medical equipment sector, but also by the progress of other industrial segments that broaden the country’s export offer,” PROCOMER General Manager Laura López said. “These categories complement the weight of the medical devices industry and reflect an evolution toward more technologically sophisticated processes, strengthening the competitiveness of Costa Rica’s manufacturing sector in international markets.”

Diversification within the manufacturing sector is also reflected in the country’s business structure. A total of 1,703 companies exported 3,368 different products in 2024. The main export destinations were the United States (55%), the Netherlands (9%), and Belgium (4%).

Export Destinations

While North America accounts for the highest value of Costa Rica’s exports, data show that Central America is the region to which the largest number of companies export. In total, 1,245 companies shipped goods to this market during the period analyzed, primarily products such as electrical cables, textiles and apparel, paints, and varnishes, among others.

Central America leads the number of exporting companies by destination, followed by North America, with 702 companies; South America, with 344; the Caribbean, with 293; and the European Union, with 285.

“The distribution of our exports confirms that Costa Rica maintains a solid base in geographically close markets, while continuing to expand into strategic destinations. This diversification is essential to reduce market dependence and strengthen the resilience of the export sector,” López added.

The study confirms that manufacturing is expanding under both the free trade zone and the definitive regime, demonstrating Costa Rica’s capacity to sustain highly complex industrial processes across different production schemes. Eighty-four percent of manufacturing exports originated from free trade zones, primarily medical devices, needles and catheters, prosthetics and diagnostic equipment, while 14% corresponded to the definitive regime, where leading products included electrical cables, glass containers, paints and varnishes, packaging plastics, and laminated iron and steel products.