Q COSTARICA — The imposition of tariffs on Costa Rican exports by the United States will impact the national economy in 2025.
In terms of GDP, a 15% tax on exported products will cause the economy to grow only 3.56%, four basis points less than the 3.60% initially projected when the tariff was 10%, according to a Deloitte analysis.
After this adjustment, Costa Rica became the second Central American country with the highest rate.
The sectors hardest hit in the short term will be agricultural, particularly pineapple, bananas, and coffee, while in the medium term, the impact will shift to higher value-added goods such as medical devices and electronic circuits.
The report also indicates that the effective tariff rate for the top ten exported products rose from 0.2% in 2024 to 7.9% in 2025, a significant increase that makes access to the US market more expensive.
Bright Side
Despite the complex outlook, Deloitte identifies a window of opportunity: The continued high taxes imposed on Asian countries, primarily China, could boost nearshoring (the relocation of operations to nearby countries to reduce costs and delivery times) to Costa Rica, attracting foreign investment and diversifying exports in the medium term.
The study concludes that protectionist measures reflect the trade interdependence between the two countries and that, although Costa Rica faces immediate challenges, it also has the potential to strengthen its role as an attractive destination for international investment.
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