Costa Rica Trade Deficit Hits US$2.9 Billion

COSTA RICA · TRADE

Costa Rica’s goods trade deficit reached US$2.9 billion in the first nine months of 2026, the central bank’s latest table shows. September added about US$502 million, more than August.

The Costa Rica trade deficit reached US$2.90 billion in the nine months to September, central bank data show. North America, the largest market for Costa Rican goods, took 48% of exports in the first eight months.

The Banco Central de Costa Rica (BCCR) figure is a cumulative, preliminary total built from customs records. The monthly amounts in this report are calculated from those running totals.

What the Central Bank Table Shows

The BCCR table, titled Balance comercial acumulado, gives the deficit as a running total for the year in millions of US dollars. It shows US$1,957.33 million to July, US$2,396.24 million to August and US$2,898.22 million to September.

Subtracting each total from the next gives monthly gaps of about US$439 million in August and US$502 million in September. September’s gap was therefore about US$63 million wider than August’s.

The first eight months of 2026 averaged about US$300 million a month. September ran about 68% above that pace.

The bank adjusts the raw customs numbers for processing services done for third parties, and for maintenance and repairs. It marks every figure as preliminary from January 2025 and labels the series FUES.

What Costa Rica Sells Abroad

Comex announced on Thursday, 24 September, that goods exports reached US$15.68 billion in January to August. That is 4%, or US$655 million, more than a year earlier.

Precision and medical equipment led with US$7.29 billion, or 46% of goods exports, up 1%. Electrical and electronic exports grew 18%, while plastics fell 5%.

North America took US$7.47 billion, or 48% of exports, which was 2% less than a year earlier. Asia grew 25% to US$1.11 billion and Europe rose 10% to US$3.45 billion.

Central America grew 9% to US$2.77 billion, and South America rose 8% to US$308 million. Trade Minister Indiana Trejos called 4% growth “favourable” given geopolitical and trade uncertainty.

These export totals come from Comex and Procomer, the export promotion agency, and are a separate series from the bank’s balance. No September export release was on the Comex press page when it was checked on Thursday, 22 October.

The US Tariff Backdrop

The Office of the US Trade Representative confirmed on Thursday, 23 July, a 12.5% tariff on certain Costa Rican export goods. Comex says the measure took effect on Friday, 24 July, and replaced a temporary 10% surcharge.

The tariff follows a Section 301 investigation into rules against forced-labour imports in 60 economies. Coffee, pineapple, bananas and orange juice stay excluded, and Comex says more products were added to the exempt list.

It is not yet clear how far the tariff explains the 2% fall in exports to North America. The figures checked do not split exports by US tariff treatment.

What It Means for US Readers

A larger deficit means Costa Rica bought more goods abroad than its exports covered. US businesses that sell into the country are on the other side of that gap.

Investors in Costa Rican colon assets can watch the monthly balance as one input to currency demand. A single month does not make a trend, and the table gives no breakdown by trading partner.

US buyers of Costa Rican medical devices, which make up 46% of goods exports, should note that those sales grew only 1%. Earlier reports cover the second-quarter current account deficit and US dairy imports.

Other reports cover September inflation and the colon at a 20-year high. The Costa Rica hub lists all current coverage.

What Is Not Known

The central bank table checked gives only the cumulative balance, so September exports and imports on its own basis are not known. The split between weaker exports and stronger imports in the month is therefore unclear.

The table shows only July to September 2026, so no comparison with the same period of 2025 could be made. The bank calls all figures preliminary, which means earlier months can be revised.

Analyst forecasts for the September balance could not be checked at a primary source and are not used. The monthly gaps of about US$439 million and US$502 million are calculations, not figures the bank states.

What Comes Next

The BCCR will add October to the same table, and no release date is shown there. Comex has not announced when it will publish export totals that include September.

Those two releases will show whether the September jump was a one-month spike or the start of a wider gap. Neither will say how the US tariff changed trade.

Frequently Asked Questions

What is Costa Rica’s trade deficit in 2026?

The central bank puts the cumulative goods deficit at US$2,898.22 million for January to September 2026. That is up from US$2,396.24 million at the end of August.

How much did the deficit grow in September?

Subtracting the August total from the September total gives about US$502 million. August’s gap, calculated the same way, was about US$439 million.

Are Costa Rica’s exports growing?

Comex says goods exports rose 4% to US$15.68 billion in January to August. Exports to North America fell 2%, while Asia grew 25% and Europe 10%.

Does a US tariff apply to Costa Rican goods?

Yes, a 12.5% US tariff has applied to certain Costa Rican goods since Friday, 24 July. Coffee, pineapple, bananas and orange juice are excluded.

Who publishes Costa Rica’s trade balance?

The Banco Central de Costa Rica publishes the cumulative balance using customs data from the Dirección General de Aduanas. The figures are preliminary and in US dollars.

Sources: Banco Central de Costa Rica, Balance comercial acumulado; Comex, CP-3264, 24 September; Comex, CP-3250, 23 July (all accessed 22 October 2026).