Overview: In 1988 the economy grew at a 3.8% rate, a drop from the 5.1% of the previous year. 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 1988 consumer prices rose by nearly 21% followed by a 10% rise in 1989. Unemployment is officially reported at about 6%, but much underemployment remains. External debt, on a per capita basis, is among the world's highest.

GDP: $4.7 billion, per capita $1,630; real growth rate 3.8% (1988)

Inflation rate (consumer prices): 10% (1989)

Unemployment rate: 5.5% (March 1989)

Budget: revenues $719 million; expenditures $808 million, including capital expenditures of $103 million (1988)

Exports: $1.3 billion (f.o.b., 1988); commodities--coffee, bananas, textiles, sugar; partners--US 75%, FRG, Guatemala, Netherlands, UK, Japan

Imports: $1.4 billion (c.i.f., 1988); commodities--petroleum, machinery, consumer durables, chemicals, fertilizer, foodstuffs; partners--US 35%, Japan, Guatemala, FRG

External debt: $4.5 billion (1989)

Industrial production: growth rate 2.1% (1988)

Electricity: 909,000 kW capacity; 2,928 million kWh produced, 990 kWh per capita (1989)

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

Agriculture: accounts for 20-25% of GDP and 70% of exports; cash commodities--coffee, beef, bananas, sugar; other food crops include corn, rice, beans, potatotes; normally self-sufficient in food except for grain; depletion of forest resources resulting in lower timber output

Illicit drugs: illicit production of cannabis on small scattered plots; transshipment country for cocaine from South America

Aid: US commitments, including Ex-Im (FY70-88), $1.3 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $706 million; Communist countries (1971-88), $27 million

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

Exchange rates: Costa Rican colones (C) per US$1--84.689 (January 1990), 81.504 (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 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Costa Rica Economy 1990 information contained here. All suggestions for corrections of any errors about Costa Rica Economy 1990 should be addressed to the CIA.