Economic Triple Threat Squeezes Costa Rica’s Export Sector Viability

Costa Rican exporters face a crisis as a historic colón surge, 27% port fee hike, and 10% US tariffs squeeze margins for agricultural and medical device sectors.

By: AXL Media

Published: Apr 28, 2026, 10:26 AM EDT

Source: The Tico Times

Port Fee Restructuring and JAPDEVA Revenue Targets

Earlier this month, the Autoridad Reguladora de los Servicios Públicos (ARESEP) approved a substantial update to the tariff schedule for JAPDEVA, the state authority managing the Atlantic ports of Moín and Limón. While the regulator moderated JAPDEVA’s initial request for increases up to 167%, the approved restructuring is expected to boost port revenues by approximately 27%. Strategic services essential for cold-chain logistics vital for Costa Rica's massive pineapple and banana exports have seen the sharpest rises, with energy fees for refrigerated containers climbing by 91% and towage fees increasing by 80%.

Currency Appreciation and the ₡454 Threshold

The logistical cost hike arrives as the colón reaches its strongest position in over a decade, trading near ₡454 per dollar. This represents a dramatic shift from 2022, when the currency traded above ₡690. Driven by robust foreign direct investment and a surging services sector, this appreciation creates a "scissors effect" for exporters: their operational costs, such as labor and domestic utilities, are paid in expensive colones, while their revenues arrive in dollars that now convert into significantly less local currency. The Banco Central de Costa Rica (BCCR) has intervened to smooth volatility, yet officials maintain they will not defend a specific exchange-rate floor.

Navigating the 10 Percent US Tariff Barrier

Further complicating the landscape is the disruption of traditional trade protections. The United States, which consumes nearly 47% of Costa Rican goods, recently imposed a 10% baseline tariff as part of shifting trade policies that bypassed existing CAFTA-DR benefits. While certain agricultural staples like coffee and tropical fruits currently benefit from exemptions, higher-value sectors most notably medical devices remain under intense scrutiny. The ongoing uncertainty regarding trade legal mechanisms has made long-term strategic planning nearly impossible for companies heavily reliant on the North American market.