Looking for an easy way to ship your cargo to Costa-Rica? Choose the best freight forwarder to transport your goods to Costa-Rica safely and on time.
Exporting goods to Costa-Rica, whether it is for the first time, or on a regular basis, can be a challenging experience.
There are many elements to consider when shipping to a country such as Costa-Rica. If you are in Canada or the US and not entirely familiar with the Latin American market, you should consider a cargo shipping company that knows the business culture, the language, the customs regulations and has a proven track record of success when it comes to freight shipping to Costa Rica.
WHAT CAN YOU EXPECT IN COSTA RICA?
Regulations in Costa Rica are not only very different from the ones in the US or Canada, communication methods and business etiquette are also very distinct: ● Corporate culture in Costa Rica is relationship-driven. Known as formal but friendly people, “Ticos” as they are called, appreciate personal relationships more than formal business connections which is the norm in the US or Canada. Therefore, it is important to develop easy going business “friendships”, as they may be more loyal to you personally rather than to the company you represent. Third-party contacts are also a key to business success in Costa Rica. An established person vouching for you and presenting your company will help you gain trust in the market. ● Costa Ricans have a more relaxed perception of time management than Americans and Europeans, however punctuality is expected for business appointments. ● It is also important to consider the language as a possible barrier. Although most business executives speak English fluently, a good knowledge of Spanish would be highly appreciated for business relations.
QUICK FACTS ABOUT COSTA RICA (2018)
- Capital: San José
- Other Large Cities: Puerto Limón, Alajuela, Heredia, Cinco Esquinas, Desamparados, Liberia
- Population: 4,999,441 (Urban Population: 79.3%)
- Official languages: Spanish
- Time Zone : GMT - 6
- Currency: Costa Rican Colon (CRC)
ECONOMIC SNAPSHOT ( Source: IMF - World Bank, 2018)
- GDP: 60.46 billion USD (GDP Growth: 2.7% / GDP per capita: 12,039 USD)
- Inflation Rate: 2.2%
- Unemployment Rate:9.6%
- Total Imports of Goods: 16.16 billion USD
- FDI Inward Flow: 2.76 billion USD (4,6% of GDP)
- Ease of Doing Business Score (2019): 67th / 190
WHY DOING BUSINESS WITH COSTA RICA IS THE RIGHT DECISION
Costa Rica has commercial ports of entry on both the Pacific and Caribbean coasts, offering a unique and dynamic background for companies looking to expand internationally. The country’s economic performance has been historically tied to its agriculture, mainly coffee, cocoa and banana. However its recent economic development comes from its manufacturing sector and the increasing number of high-end assembly plants for a wide range of industries, such as micro-processors, electronics, automotive equipment, medical material, processed foods, plastics, chemicals, etc. The import market has seen steady growth in recent years and it is expected to increase in the future. The USA is Costa Rica’ largest trading partner. In addition, the Central America – Dominican Republic Free Trade Agreement (CAFTA-DR) offers lots of opportunities for US exporters. Furthermore, Costa Rica’s growing middle class and its large North American expat population have strong purchasing power and are known to be highly receptive to US and European goods; which generates business openings for international companies. The need for shipping to and from Costa Rica has been increasing exponentially during recent years. With LAC by your side, you will reinforce your company’s cargo shipping capability to Costa Rica. Our experienced professionals are very familiar with the market requirements in Costa Rica which is very important to avoid delays during the importation process. We provide you with all the necessary tools to break into the Costa Rican market, headache free.
COSTA RICA TRADE OVERVIEW
- MAIN IMPORTS: Petroleum, Vehicles & parts, Medicaments, Telecommunication equipment, Specialized Machinery, Paper & Forestry, Packaging & Plastic Products
- MAIN EXPORTS: Medical equipment, Fruits, Processed food, Coffee, Tires, Medicaments, Electric wire
- INDUSTRIES WITH STRONG BUSINESS OPPORTUNITIES: Renewables Energies, Food & Beverage, Healthcare, Construction Equipment, Chemicals, transport and telecommunications
- PRINCIPAL TRADING PARTNERS: USA, China, Europe (Netherlands, Belgium, Germany), Panama, Guatemala, Nicaragua, Honduras, El Salvador, Mexico, Dominican Republic, Japan, Brazil, Colombia, Chile