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. Foreign investors remain attracted by the country's political stability and high education levels, and tourism continues to bring in foreign exchange. Low prices for coffee and bananas have hurt the agricultural sector. The government continues to grapple with its large deficit and massive internal debt. The reduction of inflation remains a difficult problem because of rises in the price of imports, labor market rigidities, and fiscal deficits. Costa Rica recently concluded negotiations to participate in the US - Central American Free Trade Agreement, which, if ratified by the Costa Rican Legislature, would result in economic reforms and an improved investment climate. |
| GDP: | purchasing power parity - $35.34 billion (2004 est.) |
| GDP - real growth rate: | 5.6% (2004 est.) |
| GDP - per capita: | purchasing power parity - $9,100 (2004 est.) |
| GDP - composition by sector: | agriculture: 8.5%
industry: 29.4%
services: 62.1% (2004 est.) |
| Investment (gross fixed): | 20.2% of GDP (2004 est.) |
| Population below poverty line: | 20.6% (2004 est.) |
| Household income or consumption by percentage share: | lowest 10%: 1.1%
highest 10%: 36.8% (2002) |
| Distribution of family income - Gini index: | 45.9 (1997) |
| Inflation rate (consumer prices): | 9.4% (2004 est.) |
| Labor force: | 1.758 million (2004 est.) |
| Labor force - by occupation: | agriculture 20%, industry 22%, services 58% (1999 est.) |
| Unemployment rate: | 6.7% (2004 est.) |
| Budget: | revenues: $2.313 billion
expenditures: $2.851 billion, including capital expenditures of NA (2004 est.) |
| Public debt: | 56.1% of GDP (2004 est.) |
| Agriculture - products: | coffee, pineapples, bananas, sugar, corn, rice, beans, potatoes; beef; timber |
| Industries: | microprocessors, food processing, textiles and clothing, construction materials, fertilizer, plastic products |
| Industrial production growth rate: | 8% (2004 est.) |
| Electricity - production: | 6.839 billion kWh (2001) |
| Electricity - consumption: | 6.109 billion kWh (2001) |
| Electricity - exports: | 379 million kWh (2001) |
| Electricity - imports: | 128 million kWh (2001) |
| Oil - production: | 0 bbl/day (2001 est.) |
| Oil - consumption: | 37,000 bbl/day (2001 est.) |
| Oil - exports: | NA (2001) |
| Oil - imports: | NA (2001) |
| Current account balance: | $-970 million (2004 est.) |
| Exports: | $6.176 billion (2004 est.) |
| Exports - commodities: | coffee, bananas, sugar; pineapples; textiles, electronic components, medical equipment |
| Exports - partners: | US 14.2%, Guatemala 3%, Nicaragua 2.7% (2003) |
| Imports: | $7.057 billion (2003 est.) |
| Imports - commodities: | raw materials, consumer goods, capital equipment, petroleum |
| Imports - partners: | US 23.2%, Mexico 4.7%, Venezuela 3.2% (2003) |
| Reserves of foreign exchange & gold: | $1.836 billion (2004 est.) |
| Debt - external: | $5.366 billion (2004 est.) |
| Currency: | Costa Rican colon (CRC) |
| Currency code: | CRC |
| Exchange rates: | Costa Rican colones per US dollar - 398.663 (2003), 359.817 (2002), 328.871 (2001), 308.187 (2000), 285.685 (1999) |
| Fiscal year: | calendar year
Source: CIA World Factbook
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