| People | Costa Rica |
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Economy - overview:
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Costa Rica's basically stable economy depends on tourism, agriculture, and electronics exports. Poverty has remained around 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. Immigration from Nicaragua has increasingly become a concern for the government. The estimated 300,000-500,000 Nicaraguans estimated to be in Costa Rica legally and illegally are an important source of (mostly unskilled) labor, but also place heavy demands on the social welfare system. Foreign investors remain attracted by the country's political stability and high education levels, as well as the fiscal incentives offered in the free-trade zones. Exports have become more diversified in the past 10 years due to the growth of the high-tech manufacturing sector, which is dominated by the microprocessor industry. Tourism continues to bring in foreign exchange, as Costa Rica's impressive biodiversity makes it a key destination for ecotourism. The government continues to grapple with its large internal and external deficits and sizable internal debt. Reducing inflation remains a difficult problem because of rising import prices, labor market rigidities, and fiscal deficits. Tax and public expenditure reforms will be necessary to close the budget gap. In October 2007, a national referendum voted in favor of the US-Central American Free Trade Agreement (CAFTA). |
GDP (purchasing power parity):
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$55.95 billion (2007 est.) |
GDP (official exchange rate):
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$22.84 billion (2007 est.) |
GDP - real growth rate:
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6.1% (2007 est.) |
GDP - per capita (PPP):
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$13,500 (2007 est.) |
GDP - composition by sector:
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agriculture: 8.6%
industry: 29.4%
services: 62.1% (2007 est.) |
Investment (gross fixed):
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20.3% of GDP (2007 est.) |
Population below poverty line:
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16% (2006 est.) |
Household income or consumption by percentage share:
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lowest 10%: 1%
highest 10%: 37.4% (2003) |
Distribution of family income - Gini index:
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49.8 (2003) |
Inflation rate (consumer prices):
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9.3% (2007 est.) |
Labor force:
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1.946 million
note: this official estimate excludes Nicaraguans living in Costa Rica (2007 est.) |
Labor force participation rate:
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46.38 % of population |
Labor force - by occupation:
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agriculture: 14%
industry: 22%
services: 64% (2006 est.) |
Unemployment rate:
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5.5% (2007 est.) |
Budget:
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revenues: $3.572 billion
expenditures: $3.843 billion (2007 est.) |
Budget revenues per capita:
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852 USD per capita |
Public debt:
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47.4% of GDP (2007 est.) |
Industries:
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microprocessors, food processing, medical equipment, textiles and clothing, construction materials, fertilizer, plastic products |
Industrial production growth rate:
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7% (2007 est.) |
Electricity - production:
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8.349 billion kWh (2005) |
Electricity - production per capita:
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1,990 kWh per capita |
Electricity - consumption:
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7.776 billion kWh (2005) |
Electricity - consumption - per capita:
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1,854 kWh per capita |
Electricity - exports:
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70 million kWh (2005) |
Electricity - imports:
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81 million kWh (2005) |
Oil - production:
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0 bbl/day (2004) |
Oil - production per capita:
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void |
Oil - consumption:
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43,000 bbl/day (2005 est.) |
Oil - consumption - per capita:
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3.74 bbl/year per capita |
Oil - exports:
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2,998 bbl/day (2004) |
Oil - imports:
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43,640 bbl/day (2004) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2005 est.) |
Natural gas - production per capita:
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void |
Natural gas - consumption:
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0 cu m (2005 est.) |
Natural gas - consumption - per capita:
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void |
Natural gas - exports:
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0 cu m (2005 est.) |
Natural gas - imports:
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0 cu m (2005) |
Natural gas - proved reserves:
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0 cu m (1 January 2006 est.) |
Agriculture - products:
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bananas, pineapples, coffee, melons, ornamental plants, sugar, corn, rice, beans, potatoes; beef; timber |
Current account balance:
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-$1.259 billion (2007 est.) |
Current account balance - per capita:
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-300 USD per capita |
Exports:
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$9.232 billion (2007 est.) |
Exports per capita:
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2,201 USD per capita |
Exports - commodities:
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bananas, pineapples, coffee, melons, ornamental plants, sugar; seafood; electronic components, medical equipment |
Exports - partners:
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US 27.5%, Netherlands 12.2%, China 11.7%, UK 6.2%, Mexico 5.8% (2006) |
Imports:
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$11.84 billion (2007 est.) |
Imports per capita:
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2,822 USD per capita |
Imports - commodities:
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raw materials, consumer goods, capital equipment, petroleum, construction materials |
Imports - partners:
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US 41.2%, Venezuela 5.4%, Mexico 5.2%, Ireland 5%, Japan 4.9%, Brazil 4.3%, China 4.1% (2006) |
Reserves of foreign exchange and gold:
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$3.915 billion (31 December 2007 est.) |
Reserves of foreign exchange and gold - per capita:
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934 USD per capita |
Debt - external:
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$7.163 billion (30 June 2007) |
Debt - external - per capita:
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1,708 USD per capita |
Stock of direct foreign investment - at home:
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$6.897 billion (2006 est.) |
Stock of direct foreign investment - abroad:
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$261.3 million (2006 est.) |
Market value of publicly traded shares:
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$1.478 billion (2005) |
Economic aid - donor:
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void |
Economic aid - recipient:
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$29.51 million (2005) |
Economic aid - recipient per capita:
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8 USD per capita |
Currency (code):
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Costa Rican colon (CRC) |
Exchange rates:
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Costa Rican colones per US dollar - 519.53 (2007), 511.3 (2006), 477.79 (2005), 437.91 (2004), 398.66 (2003) |
Fiscal year:
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calendar year |
|
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