Costa Rica Ranks 3rd Largest In Latin America For Trade

Costa Rica is the third place in Latin America and the Caribbean among the countries most open to foreign trade, according to the Global Report on Trade Facilitation published by the World Economic Forum.

Among the 132 countries evaluated Costa Rica is ranking at number 43. This is the final report – published every two years.

The first place in Latin America and the Caribbean is Chile (number 14 in the world) and the second Uruguay (43).

In the world the first place position goes to Singapore.

The report notes that Costa Rica, like Chile, is an example of best practice in access the market thanks to moderate rates and a relatively simple tariff structure.

Furthermore, administration of borders is reasonably efficient, despite difficulties that were identified by the business community in relation to irregular payments for imports and exports.

Some points for improvement are: the quality of roads and ports and better availability of Information Technology and Communication.

The report includes institutional measures being taken by governments and the private sector to overcome trade barriers and measure the extent to which economies have developed institutions, policies and services facilitating the free movement of goods through.

To obtain the indexes, using a combination of publicly available data and the results of the Executive Opinion Survey, conducted annually by the World Economic Forum with its network of partner institutes in the countries included in the report.

The Latin American Center for Competitiveness and Sustainable Development (CLACDS) at INCAE Business School, is a regional partner of the World Economic Forum and is responsible for gathering information in nine Latin American countries: Honduras, El Salvador, Nicaragua, Costa Rica, Panama , Bolivia, Ecuador and Dominican Republic.

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