Costa Rica’s Services Sector Thrives with $16.1 Billion Exports

The services sector in Costa Rica has seen significant growth, reaching exports of USD 16.114 billion in 2024. This figure represents 17% of the country’s Gross Domestic Product (GDP) and reflects a robust annual growth rate of 8% over the past five years. This expansion underscores Costa Rica’s strategic importance in the global services economy, driven by a highly skilled workforce and a commitment to innovation.

According to the report titled “Export Dynamism of Costa Rica’s Services Sector,” released by the Trade & Investment Promotion Agency of Costa Rica (PROCOMER), the services sector plays a pivotal role in the nation’s economy. Notably, it contributes to 45% of total exports, which encompasses both goods and services. When excluding tourism, services still account for a substantial 35%. The diverse range of services includes corporate solutions, digital services, information technology, cybersecurity, and analytics.

Laura López, CEO of PROCOMER, emphasized the implications of this growth, stating, “The performance of the services sector is not an isolated outcome; it reflects a country that has successfully transitioned toward activities where knowledge, creativity, and technology generate real value for companies and opportunities for our people.” She highlighted Costa Rica’s positioning as a strategic partner for global operations seeking a stable environment conducive to innovation.

In 2024, business services dominated the services export landscape, contributing USD 6.698 billion, or 42% of the total. Following closely were tourism, at 34%, and information and communication technology (ICT) services, which accounted for 15% with USD 2.388 billion. Knowledge-intensive activities have proven particularly lucrative, making up 58% of total services exports with an average annual growth rate of 10% over the last five years, illustrating the maturity of Costa Rica’s specialized services ecosystem.

The sector’s resilience is evident in its diverse offerings, which cater to global demands for business processes and technology solutions. The report also notes a significant influx of foreign direct investment directed towards services-related activities. Within this context, the Free Trade Zone Regime has emerged as a vital platform, supporting the establishment and expansion of global companies. By 2024, there were 420 services companies operating under this regime, reflecting sustained growth.

Recent data for the first half of 2025 indicates continued momentum. Services exports increased by 5.4% to USD 8.692 billion, while exports excluding travel rose by 2.6% to USD 5.605 billion. Growth in business services, along with digital solutions in computing and telecommunications, played a significant role in this uptick. The sector remains balanced, with business services comprising 40% and computing and telecommunications accounting for 15% of total services exports.

Employment figures also highlight the sector’s importance. Within the Free Trade Zone Regime, the services sector accounted for 119,982 direct jobs, with women making up 43% of this workforce. This demonstrates not only the sector’s contribution to specialized formal employment but also its alignment with gender equity objectives.

Costa Rica’s performance on various international indicators reinforces its standing in the global services market. The country ranks #1 per capita in the Americas for exports of business services and #2 for ICT services. Overall, Costa Rica is positioned as the #2 services exporter per capita in Latin America, according to the World Trade Organization (WTO), and is #1 in ICT services exports in the region, as noted by the World Intellectual Property Organization (WIPO). Furthermore, Costa Rica leads the region in the adoption and investment in emerging technologies, as reported by the Network Readiness Index.

With over 350 multinational companies engaged in services in Costa Rica, the nation continues to strengthen its integration into global value chains. This growth trajectory highlights Costa Rica’s role as a trusted environment for companies aiming to expand high-value operations, further solidifying its status in the evolving global services economy.