Support our Sponsor

. . Flags of the World Maps of All Countries
; geographic.org; Home; Page; Country Index

Costa Rica Economy

    Economy—overview: Costa Rica's basically stable economy depends on tourism, agriculture, and electronics exports. Poverty has been substantially reduced over the past 15 years and a strong social safety net has been put into place. Economic growth has rebounded from -0.9% in 1996 to 3% in 1997 and an estimated 5.5% in 1998. Inflation rose to 22.5% in 1995, dropped to 11.1% in 1997, and reached an estimated 12% in 1998. Unemployment appears moderate at 5.6%, but substantial underemployment continues. Furthermore, large government deficits—fueled by interest payments on the massive internal debt—have undermined efforts to maintain the quality of social services. Curbing inflation, reducing the deficit, and improving public sector efficiency remain key challenges to the government. President RODRIGUEZ has called for an increased economic role for the private sector, but political resistance to privatization has stalled much of his economic program.

    GDP: purchasing power parity—$24 billion (1998 est.)

    GDP—real growth rate: 5.5% (1998 est.)

    GDP—per capita: purchasing power parity—$6,700 (1998 est.)

    GDP—composition by sector:
    agriculture: 15%
    industry: 24%
    services: 61% (1997)

    Population below poverty line: NA%

    Household income or consumption by percentage share:
    lowest 10%: 1.3%
    highest 10%: 34.7% (1996)

    Inflation rate (consumer prices): 12% (1998 est.)

    Labor force: 868,300

    Labor force—by occupation: industry and commerce 23.3%, government and services 55.1%, agriculture 21.6% (1996 est.)

    Unemployment rate: 5.6% (1998 est.); much underemployment

    Budget:
    revenues: $1.1 billion
    expenditures: $1.34 billion, including capital expenditures of $110 million (1991 est.)

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

    Industrial production growth rate: 10.5% (1992)

    Electricity—production: 4.785 billion kWh (1996)

    Electricity—production by source:
    fossil fuel: 14.11%
    hydro: 75.44%
    nuclear: 0%
    other: 10.45% (1996)

    Electricity—consumption: 4.931 billion kWh (1996)

    Electricity—exports: 44 million kWh (1996)

    Electricity—imports: 190 million kWh (1996)

    Agriculture—products: coffee, bananas, sugar, corn, rice, beans, potatoes; beef; timber

    Exports: $3.9 billion (f.o.b., 1998)

    Exports—commodities: manufactured products, coffee, bananas, textiles, sugar (1997)

    Exports—partners: US, Benelux, Germany, Italy, Guatemala, El Salvador, Netherlands, UK, France (1997)

    Imports: $4.5 billion (c.i.f., 1998)

    Imports—commodities: raw materials, consumer goods, capital equipment, petroleum (1997)

    Imports—partners: US, Japan, Mexico, Venezuela, Guatemala, Germany (1997)

    Debt—external: $3.2 billion (October 1996 est.)

    Economic aid—recipient: $107.1 million (1995)

    Currency: 1 Costa Rican colon (C) = 100 centimos

    Exchange rates: Costa Rican colones (C) per US$1—272.58 (January 1999), 257.23 (1998), 232.60 (1997), 207.69 (1996), 179.73 (1995), 157.07 (1994)

    Fiscal year: calendar year

Support Our Sponsor

Support Our Sponsor

Please put this page in your BOOKMARKS - - - - -



Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)