Overview: In 1988 the economy grew at a 3.8% rate, slightly lower than the 4.8% of 1989. Gains in agricultural production (on the strength of good coffee and banana crops) and in construction, were partially offset by declines in the rates of growth for the industry and commerce sectors. In 1987 consumer prices rose by 16% followed by a 25% rise in 1988. Unemployment is officially reported at 6.2%, but much underemployment remains. External debt, on a per capita basis, was among the world's highest in December 1988.

GDP: $4.4 billion, per capita $1,529; real growth rate 3.8% (1988)

Inflation rate (consumer prices): 25% (1988)

Unemployment rate: 6.2% (1987)

Budget: revenues $700 million; expenditures $792 million, including capital expenditures of $167 million (1987)

Exports: $1.23 billion (f.o.b., 1988); @m5commodities--coffee, bananas, textiles, sugar; @m5partners--US, FRG, Guatemala, Netherlands, UK, Japan

Imports: $1.41 billion (c.i.f., 1988); @m5commodities--petroleum, machinery, consumer durables, chemicals, fertilizer, foodstuffs; @m5partners--US 35%, Japan, Guatemala, FRG

External debt: $4.3 billion (1988)

Industrial production: growth rate 4% (1988)

Electricity: 825,000 kW capacity; 2,916 million kWh produced, 1,010 kWh per capita (1988)

Industries: food processing, textiles and clothing, construction materials, fertilizer

Agriculture: coffee, bananas, sugarcane, rice, corn, cocoa, livestock products; an illegal producer of cannabis for the international drug trade

Aid: US commitments, including Ex-Im (FY70-87), $1.2 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-86), $621 million; Communist countries (1971-87), $27 million

Currency: Costa Rican colon (plural--colones); 1 Costa Rican colon (C) = 100 centimos

Exchange rates: Costa Rican colones (C) per US$1--80.75 (March 1989), 75.805 (1988), 62.776 (1987), 55.986 (1986), 50.453 (1985)

Fiscal year: calendar year

NOTE: The information regarding Costa Rica on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Costa Rica Economy 1989 information contained here. All suggestions for corrections of any errors about Costa Rica Economy 1989 should be addressed to the CIA.