Discover How Coyol Free Zone Strengthens Local Industries and Medical Device Exports, Boosting Costa Rica’s Economic Growth

March, 2025. Exports from companies located in Coyol Free Zone (CFZ) do have a great impact on the Costa Rican economy, generating quality employment, prosperity for the communities, and boosting local suppliers. 

The export figures for these companies are increasing annually and are playing a growingly significant role in the Costa Rican economy. In 2023, foreign sales from Coyol Free Zone reached $4.440 million, accounting for 35% of total exports under the Free Zone regime. 

Between 2022 and 2023, this figure increased 31%, equivalent to 3.3% of Costa Rica’s Gross Domestic Product (GDP). 

The Importance of Medical Device Exports in Costa Rica 

The numbers become even more significant when focusing on Medical Devices, a sector where the companies in the Coyol Free Zone and Costa Rica are leaders. This segment accounts for most of the Park’s exports, representing approximately 54% to 55% of the total Medical Device exports from the country as of 2020, as illustrated in the following graph: 

This is evidence of our longstanding leadership through significant investments by world-class companies which rely on us to expand their operations, diversify their products, and explore new export destinations. 

It also reaffirms that our Park’s model ensures successful operations, through the continued growth of the companies within this business ecosystem.  

COYOL FREE ZONE’S IMPACT IN NUMBERS (2023 DATA)

The Coyol Free Zone plays a significant role in Costa Rica’s economy due to the high value-added exports generated by the companies in its industrial park. The figures below illustrate the percentage that these exports represent in relation to Costa Rica’s total exports: 

Source: Independent Consultant