Economy - overview:
Prior to the global economic crisis, Costa Rica enjoyed stable economic growth. The economy contracted 0.7% in 2009, but resumed growth at more than 3% in 2010. While the traditional agricultural exports of bananas, coffee, sugar, and beef are still the backbone of commodity export trade, a variety of industrial and specialized agricultural products have broadened export trade in recent years. High value added goods and services, including microchips, have further bolstered exports. Tourism continues to bring in foreign exchange, as Costa Rica's impressive biodiversity makes it a key destination for ecotourism. Foreign investors remain attracted by the country's political stability and relatively high education levels, as well as the fiscal incentives offered in the free-trade zones; and Costa Rica has attracted one of the highest levels of foreign direct investment per capita in Latin America. However, many business impediments, such as high levels of bureaucracy, difficulty of enforcing contracts, and weak investor protection, remain. Poverty has remained around 15-20% for nearly 20 years, and the strong social safety net that had been put into place by the government has eroded due to increased financial constraints on government expenditures. Unlike the rest of Central America, Costa Rica is not highly dependent on remittances as they only represent about 2% of GDP. Immigration from Nicaragua has increasingly become a concern for the government. The estimated 300,000-500,000 Nicaraguans in Costa Rica legally and illegally are an important source of - mostly unskilled - labor, but also place heavy demands on the social welfare system. The US-Central American-Dominican Republic Free Trade Agreement (CAFTA-DR) entered into force on 1 January 2009, after significant delays within the Costa Rican legislature. CAFTA-DR will likely lead to increased foreign direct investment in key sectors of the economy, including the insurance and telecommunications sectors recently opened to private investors. President CHINCHILLA is likely to push for fiscal reform in the coming year, seeking to boost revenue, possibly through revised tax legislation, to fund an increase in security services and education.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Costa Rica on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Costa Rica Economy 2011 information contained here. All suggestions for corrections of any errors about Costa Rica Economy 2011 should be addressed to the CIA.
$51.3 billion (2010 est.)
country comparison to the world: 90
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$35.02 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
3.5% (2010 est.)
country comparison to the world: 96
[see also: GDP - real growth rate country ranks ]
$11,400 (2010 est.)
country comparison to the world: 99
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 6.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
22.9%
[see also: GDP - composition by sector - industry country ranks ]
services:
70.8% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
2.17 million
country comparison to the world: 117
note:
this official estimate excludes Nicaraguans living in Costa Rica (2009 est.)
[see also: Labor force country ranks ]
agriculture: 14%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
22%
[see also: Labor force - by occupation - industry country ranks ]
services:
64% (2006 est.)
[see also: Labor force - by occupation - services country ranks ]
6.6% (2010 est.)
country comparison to the world: 64
[see also: Unemployment rate country ranks ]
16% (2006 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
35.5% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
48 (2008)
country comparison to the world: 30
[see also: Distribution of family income - Gini index country ranks ]
20.8% of GDP (2009 est.)
country comparison to the world: 81
[see also: Investment (gross fixed) country ranks ]
revenues: $5.085 billion
[see also: Budget - revenues country ranks ]
expenditures:
$6.921 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
44.1% of GDP (2010 est.)
country comparison to the world: 62
[see also: Public debt country ranks ]
5.8% (2010 est.)
country comparison to the world: 157
[see also: Inflation rate (consumer prices) country ranks ]
23% (31 December 2009)
country comparison to the world: 5
[see also: Central bank discount rate country ranks ]
19.72% (31 December 2009 est.)
country comparison to the world: 42
[see also: Commercial bank prime lending rate country ranks ]
$4.504 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$16.81 billion (31 December 2009)
[see also: Stock of broad money country ranks ]
$15.82 billion (31 December 2010 est.)
country comparison to the world: 84
[see also: Stock of domestic credit country ranks ]
$1.452 billion (31 December 2009)
country comparison to the world: 97
[see also: Market value of publicly traded shares country ranks ]
bananas, pineapples, coffee, melons, ornamental plants, sugar, corn, rice, beans, potatoes; beef, poultry, dairy; timber
microprocessors, food processing, medical equipment, textiles and clothing, construction materials, fertilizer, plastic products
3% (2009 est.)
country comparison to the world: 108
[see also: Industrial production growth rate country ranks ]
8.808 billion kWh (2007 est.)
country comparison to the world: 96
[see also: Electricity - production country ranks ]
8.064 billion kWh (2007 est.)
country comparison to the world: 94
[see also: Electricity - consumption country ranks ]
77.16 million kWh (2008 est.)
[see also: Electricity - exports country ranks ]
203.2 million kWh (2007 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2008 est.)
country comparison to the world: 185
[see also: Oil - production country ranks ]
44,000 bbl/day (2009 est.)
country comparison to the world: 100
[see also: Oil - consumption country ranks ]
2,117 bbl/day (2007 est.)
country comparison to the world: 114
[see also: Oil - exports country ranks ]
47,860 bbl/day (2007 est.)
country comparison to the world: 87
[see also: Oil - imports country ranks ]
0 bbl
country comparison to the world: 190
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 182
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 194
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 184
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 186
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 190
[see also: Natural gas - proved reserves country ranks ]
-$1.469 billion (2010 est.)
country comparison to the world: 149
[see also: Current account balance country ranks ]
$10.01 billion (2010 est.)
country comparison to the world: 86
[see also: Exports country ranks ]
bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment
US 32.61%, Netherlands 12.82%, China 11.81%, Mexico 4.2% (2009)
$13.69 billion (2010 est.)
country comparison to the world: 81
[see also: Imports country ranks ]
raw materials, consumer goods, capital equipment, petroleum, construction materials
US 44.72%, Mexico 7.65%, Venezuela 5.56%, China 5.15%, Japan 4.36% (2009)
$4.584 billion (31 December 2010 est.)
country comparison to the world: 69
[see also: Reserves of foreign exchange and gold country ranks ]
$9.126 billion (31 December 2010 est.)
country comparison to the world: 89
[see also: Debt - external country ranks ]
$13.92 billion (31 December 2010 est.)
country comparison to the world: 76
[see also: Stock of direct foreign investment - at home country ranks ]
$547 million (31 December 2010 est.)
country comparison to the world: 75
[see also: Stock of direct foreign investment - abroad country ranks ]
Costa Rican colones (CRC) per US dollar - 526.68 (2010), 573.29 (2009), 530.41 (2008), 519.53 (2007), 511.3 (2006)
This page was last modified 09-Feb-11