Costa Rica’s trade deficit widened to USD 569 mln in April, up from USD 382 mln a year earlier. The growth in exports, driven by a 24.4% increase in transportation equipment shipments, was outpaced by a 16.7% rise in imports. Despite the rapid real appreciation of the currency since mid-2022, which has stirred discontent among exporters, the long-term perspective shows a more modest overvaluation, with the real exchange rate appreciated by less than 10% compared to pre-pandemic levels.