[see also: Labor force - by occupation - industry country ranks ] (2017 est.) (31 December 2016 est.) (31 December 2012 est.) $5.356 billion )country comparison to the world (CIA rank, may be based on non-current data): $7.15 billion [see also: Imports country ranks ] 160 (31 December 2017 est.) [see also: Imports country ranks ] Stock of direct foreign investment - at home: For instance, Bono Proteger, a cash transfer programme aimed to support informal, self-employed workers, as well as those who have lost their jobs, has proved a key measure to support those most in need. 8.1% This page provides - Costa Rica GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 160 [see also: Taxes and other revenues country ranks ] (2014 est.) 3.5% (2017) services: 64% (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): 68 86 (2016 est.) Exchange rates: Costa Rican colones (CRC) per US dollar - [see also: Stock of direct foreign investment - abroad country ranks ] (2017 est. 573.5 Exports: [see also: Stock of narrow money country ranks ] $4.007 billion Current account balance: )country comparison to the world (CIA rank, may be based on non-current data): 8.1% [see also: Market value of publicly traded shares country ranks ] (31 December 2017 est.) Unemployment rate: Current account balance: (2017 est.) (31 December 2010)country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) However, poor infrastructure, high energy costs, a complex bureaucracy, weak investor protection, and uncertainty of contract enforcement impede greater investment. (2017 est.) $41.04 billion Exports - partners: US 40.9%, Belgium 6.3%, Panama 5.6%, Netherlands 5.6%, Nicaragua 5.1%, Guatemala 5% (31 December 2017 est.) (31 December 2012 est.) $10.81 billion $4.007 billion (31 December 2017 est.) (2013 est. Exports: lowest 10%: 1.5% )country comparison to the world (CIA rank, may be based on non-current data): investment in fixed capital: 17.1% (2013 est. Taxes and other revenues: 14.3% (of GDP) With no end to the crisis in sight, the country is headed for a sharp economic contraction … (2016 est. $31.84 billion (31 December 2010 est. 121, country comparison to the world (CIA rank, may be based on non-current data): [see also: Commercial bank prime lending rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. 68 Exports - commodities: bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment $5.356 billion $26.83 billion [see also: Stock of broad money country ranks ] The COVID-19 Pandemic has caused serious global economic consequences, and Costa Rica does not escape this situation, that is why among the steps for recovery the government is promoting the cultivation of Hemp and medicinal Cannabis. 573.5 | Photo: EFE Published 13 October 2020 )country comparison to the world (CIA rank, may be based on non-current data): household consumption: 64.2% exports of goods and services: 33.3% $16,900 (2017 est. (2017 est.) $5.63 billion (2016 est. [see also: GDP - composition, by end use - exports of goods and services country ranks ] (2017 est.) [see also: Labor force - by occupation - services country ranks ] Stock of broad money: [see also: Unemployment rate country ranks ] 544.74 $5.63 billion NOTE: 1) The information regarding Costa Rica on this page is re-published from the 2020 World Fact Book of the United States Central Intelligence Agency and other sources. Public debt: (2013 est. The steps taken to strengthen its macroeconomic framework, including through improved monetary policy giving more independence to the Central Bank, have been essential to improve living standards. 100 0% Stock of direct foreign investment - abroad: Economy - overview: How will President elect Biden effect the Costa Rican real estate market? Keeping this reform momentum is the best response to the current times of crisis and uncertainty. $33.92 billion $31.84 billion (31 December 2017 est.) (2017) (31 December 2016 est. (2017) [see also: Imports country ranks ] 78 (2017) (2017 est.) (2017 est.) 538.32 [see also: Distribution of family income - Gini index country ranks ] $14.53 billion 200 [see also: Labor force - by occupation - services country ranks ], Unemployment rate: [see also: Current account balance country ranks ] industry: 22% 68 $4.007 billion $10.15 billion 544.74 78 As a very open economy, it will be greatly affected by the disruptions in global value chains, the increasing volatility in financial markets and the disruptions in global trade and the tourism sector. [see also: GDP - composition, by sector of origin - services country ranks ] (2016 est. 544.74 The economic growth time series for Costa Rica cover the period from Q1 1992 to Q2 … 538.32 The economy of Costa Rica has been very stable for some years now, with continuing growth in the GDP and moderate inflation, though with a high unemployment rate: 11.49% in 2019. Central bank discount rate: )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. 3.5% 16.1% of GDP Exports - partners: US 40.9%, Belgium 6.3%, Panama 5.6%, Netherlands 5.6%, Nicaragua 5.1%, Guatemala 5% )country comparison to the world (CIA rank, may be based on non-current data): [see also: Budget - revenues country ranks ] 544.74 Its overall score has increased by 0.5 point due to an improved score for property rights. (2013 est. 71 COSTA RICA Growth is projected to recover to around 3¼ per cent in 2020 and be broad-based, underpinned by both domestic and external demand. 160 (31 December 2012 est.) Women Economic Forum – WEF 2020 is happening in Costa Rica on 11 & 12 November. 68 (2016 est.) $7.574 billion (2016 est. Public debt: 99 [see also: Stock of broad money country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): Fiscal year: calendar year 105 [see also: Commercial bank prime lending rate country ranks ] 185, country comparison to the world (CIA rank, may be based on non-current data): (2017) $1.443 billion )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): Market value of publicly traded shares: Population below poverty line: 21.7% 89 $33.92 billion (2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): We need to move towards stronger and more universal social protection systems that cover vulnerable workers and families, improve financial inclusion, as well as increase skills and education, especially in light of the digital transformation. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) 99 )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) 100 (2017 est.) 8.1% 105 Stock of narrow money: (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) [see also: Stock of domestic credit country ranks ] $26.83 billion )country comparison to the world (CIA rank, may be based on non-current data): $5.63 billion (2017 est.) 544.74 90 We will only prevail if we progress together. 185 $2.015 billion Over the last 30 years, growth has been steady and GDP per capita has tripled. [see also: Current account balance country ranks ] (2016 est. (2017 est.) Imports - partners: US 38.1%, China 13.1%, Mexico 7.3% imports of goods and services: -32.9% (2016 est. 21.5% The overall budget balance shifted from a surplus in 2007 to a deficit of 7% of GDP in 2019, higher than in most OECD countries. 0% (31 December 2010)country comparison to the world (CIA rank, may be based on non-current data): (31 December 2010 est. Imports: Debt - external: (31 December 2017 est.) (2017 est.) (2017 est.) -$1.692 billion 78 [see also: Central bank discount rate country ranks ] In this challenging context, increasing regional co-operation and integration is also essential. (31 December 2016 est. (31 December 2011 est.) (31 December 2016 est. 117, country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. Costa Rica is a beautiful country, with long stretches of deserted and undeveloped beachesdense jungles teeming with exotic wildlifetowering volcanoes, lush green valleys, and hundreds of crystal-clear lakes and rivers 69 Central bank discount rate: $81.27 billion 15.1% of GDP $15.15 billion (2015 est.) )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): $26.83 billion Debt - external: Exports: 102 [see also: Stock of direct foreign investment - abroad country ranks ] note: data are in 2017 dollarscountry comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): The same year, the GDP per capita was approximately $11,300. $26.83 billion (2017 est.) (2015 est.) Imports: (31 December 2012 est.) 102 )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) (31 December 2017 est.) Stock of direct foreign investment - at home: $10.81 billion 90 [see also: Stock of direct foreign investment - abroad country ranks ] GDP - composition, by sector of origin: 100 [see also: Stock of domestic credit country ranks ] Taxes and other revenues: 14.3% (of GDP) 90 [see also: Unemployment rate country ranks ] $10.15 billion $7.15 billion (2017 est.) [see also: Market value of publicly traded shares country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2015 est.) industry: 20.6% (31 December 2011 est.) Although the Costa Rican economy is not as powerful as that of the USA or the European nations, it certainly punches above its weight and was lucky enough to recover quickly from the gl… $15.15 billion [see also: Stock of direct foreign investment - at home country ranks ] (2015 est.) The new competition law addresses a number of previous weaknesses in Costa Rica’s competition framework, such as the lack of independence and of resources of authorities. (2014 est.) $7.15 billion (31 December 2017 est.) [see also: Budget surplus (+) or deficit (-) country ranks ] Debt - external: )country comparison to the world (CIA rank, may be based on non-current data): household consumption: 64.2% (31 December 2011 est.) (2013 est. 538.32 (2016 est. 71, country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of narrow money country ranks ] [see also: Stock of narrow money country ranks ] (2014 est.) (31 December 2017 est.) 544.74 $1.443 billion 86 [see also: Household income or consumption by percentage share - highest 10% country ranks ] 89 (31 December 2017 est.) [see also: Stock of direct foreign investment - at home country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): Stock of direct foreign investment - abroad: [see also: Gross national saving country ranks ] (2017) [see also: GDP - composition, by end use - investment in fixed capital country ranks ] $41.04 billion Stock of direct foreign investment - at home: (2017 est.) (2017) OECD Home EconomyVirtual Launch of the 2020 Economic Survey of Costa Rica Economy . Forecasts claim the economy of Costa Rica will keep a strong pace, with household consumption and growing exports for 2017. 86 $1.445 billion (31 December 2016 est. [see also: Budget - expenditures country ranks ] [see also: Central bank discount rate country ranks ] 99 Exchange rates: Costa Rican colones (CRC) per US dollar - (2017 est.) [see also: Market value of publicly traded shares country ranks ] $7.15 billion -$1.692 billion Finally, I want to highlight two challenges that are particularly important and that Costa Rica shares with other Latin American countries: inequality and the high levels of informality. Stock of narrow money: Market value of publicly traded shares: $5.63 billion (2017 est.) $10.15 billion Stock of broad money: [see also: Stock of broad money country ranks ] (2017 est.) investment in inventories: 1% $24.3 billion Due to the high level of uncertainty in current global economic conditions, the April 2020 WEO database and statistical tables contain only these indicators: real GDP growth, consumer price index, current account balance, unemployment, per capita GDP growth, and fiscal balance. )country comparison to the world (CIA rank, may be based on non-current data): 48.5 $15.15 billion [see also: GDP - composition, by sector of origin - agriculture country ranks ] A strong commitment towards trade openness has been key to attract foreign direct investment and move Costa Rica up in the global value chain. [see also: GDP - composition, by sector of origin - agriculture country ranks ] (31 December 2017 est.) (31 December 2016 est. 538.32 $33.92 billion (2013 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) Commercial bank prime lending rate: (31 December 2016 est. Distribution of family income - Gini index: )country comparison to the world (CIA rank, may be based on non-current data): [see also: Commercial bank prime lending rate country ranks ] Stock of domestic credit: Stock of direct foreign investment - at home: (31 December 2017 est.) (31 December 2016 est. (31 December 2017 est.) 534.57 Debt - external: Labor force: 2.229 million )country comparison to the world (CIA rank, may be based on non-current data): $31.84 billion (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Inflation rate (consumer prices) country ranks ] 3.5% 200, country comparison to the world (CIA rank, may be based on non-current data): Exchange rates: Costa Rican colones (CRC) per US dollar - (2017 est.) 544.74 Market value of publicly traded shares: Photo: UNDECA/Facebook On October 19, hundreds of Costa Rican workers carried out a national strike … )country comparison to the world (CIA rank, may be based on non-current data): $16,100 105 [see also: Stock of narrow money country ranks ] (31 December 2016 est.) [see also: Debt - external country ranks ] -$1.326 billion (2017 est. )country comparison to the world (CIA rank, may be based on non-current data): $7.574 billion )country comparison to the world (CIA rank, may be based on non-current data): ), GDP (official exchange rate): $58.27 billion 86 86 [see also: Reserves of foreign exchange and gold country ranks ] $14.53 billion ), Exports - partners: US 40.9%, Belgium 6.3%, Panama 5.6%, Netherlands 5.6%, Nicaragua 5.1%, Guatemala 5% (2013 est. Exchange rates: Costa Rican colones (CRC) per US dollar - )country comparison to the world (CIA rank, may be based on non-current data): Tourism is a major economic driver in Costa Rica, accounting for roughly 8–9 percent of the country’s GDP in 2019, according to Luis Jara, a spokesperson for Costa Rica’s Tourism Board. services: 73.9% Regulations in Costa Rica are among the most burdensome in advanced and emerging economies, and barriers to entry are particularly large. ), Market value of publicly traded shares: Over the last 30 years, growth has been steady and GDP per capita has tripled. 86 Current account balance: [see also: Debt - external country ranks ] This “journey” towards accession involved multiple reforms to boost the country’s economic growth and distribute its benefits to all Costa … 48.5 573.5 [see also: Stock of direct foreign investment - abroad country ranks ] Informality currently affects 45% of employment and this is likely to continue increasing over time given the bleak economic prospects. 89 )country comparison to the world (CIA rank, may be based on non-current data): 48.5 (2014 est.) 100 (31 December 2017 est.) [see also: GDP - composition, by end use - investment in fixed capital country ranks ] [see also: Household income or consumption by percentage share - highest 10% country ranks ], Distribution of family income - Gini index: (2017 est.) Costa Rica GDP - values, historical data and charts - was last updated on December of 2020. (31 December 2016 est. (31 December 2016 est. Budget: $5.63 billion Household income or consumption by percentage share: Inflation rate (consumer prices): [see also: Distribution of family income - Gini index country ranks ] Debt - external: 90 135 (31 December 2010)country comparison to the world (CIA rank, may be based on non-current data): (2016 est. -$1.326 billion (2016 est. (2016 est. exports of goods and services: 33.3% $5.63 billion $31.84 billion $38.21 billion (31 December 2016 est. (2017 est.) Population below poverty line: 21.7% [see also: Debt - external country ranks ] -$1.692 billion UPDATE 1-Costa Rican economy seen shrinking 3.6% in 2020, says central bank. $1.443 billion (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): $1.445 billion Exchange rates: Costa Rican colones (CRC) per US dollar - $15.15 billion (2013 est.). (2016 est. 71 (2017 est.) (2013)country comparison to the world (CIA rank, may be based on non-current data): Costa Rica spends approximately 6.9% of its total budget on education in comparison to the world average of 4.4%. (2017 est.) (2013)country comparison to the world (CIA rank, may be based on non-current data): 11.37% 534.57 [see also: Stock of broad money country ranks ] (31 December 2017 est.) (2017 est.) (2017) Market value of publicly traded shares: Costa Rica has proposed privatisations, tax … $5.356 billion Imports - partners: US 38.1%, China 13.1%, Mexico 7.3% Exports: [see also: GDP - composition, by end use - imports of goods and services country ranks ] ), Gross national saving: (31 December 2016 est. $24.3 billion [see also: Gross national saving country ranks ] [see also: Household income or consumption by percentage share - lowest 10% country ranks ] 11.37% ), Current account balance: Taxes and other revenues: 14.3% (of GDP) 8.1% In the closing of the Economic Reactivation Week, the Government of Costa Rica detailed an aggressive road infrastructure investment plan for US$ 4,600 million, covering large un-postponable works and cantonal road projects throughout the national territory.. Costa Rica’s roadmap. Exports - partners: US 40.9%, Belgium 6.3%, Panama 5.6%, Netherlands 5.6%, Nicaragua 5.1%, Guatemala 5% 86 $5.63 billion (2017 est.) 185 (2017) $7.15 billion 105 (2017) imports of goods and services: -32.9% 538.32 )country comparison to the world (CIA rank, may be based on non-current data): $14.53 billion 90 [see also: Inflation rate (consumer prices) country ranks ] $14.53 billion [see also: Gross national saving country ranks ] (31 December 2017 est.) 89 (2017 est.) GDP - composition, by sector of origin: Current account balance: 573.5 The pandemic aggravated problems that had already existed within the Costa Rican economy. )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. 86 )country comparison to the world (CIA rank, may be based on non-current data): $26.83 billion revenues: 8.357 billion (2016 est. 21.5% (31 December 2010)country comparison to the world (CIA rank, may be based on non-current data): $24.3 billion In fact the KEY factor for the […] (2017 est.) $4.007 billion Stock of broad money: [see also: Labor force - by occupation - services country ranks ] $2.015 billion agriculture: 14% $3.781 billion Stock of domestic credit: 544.74 [see also: Stock of direct foreign investment - abroad country ranks ] [see also: Exports country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) Stock of direct foreign investment - at home: [see also: Central bank discount rate country ranks ] Costa Rica Winter School in Ecological Economics 2020 run in partnership with Fundacion Neotropica will be focusing on Green Economy, Ecosystems, Smart and Sustainable Cities, Circular Economy and Sustainable Business Models The United Nations selected Costa Rica as its 2019 Champions of the Earth award for policy leadership. $3.781 billion -$1.692 billion exports of goods and services: 33.3% Stock of narrow money: (31 December 2017 est.) (2017 est.) highest 10%: 36.9% )country comparison to the world (CIA rank, may be based on non-current data): $4.007 billion (2013 est. 185 $10.81 billion ), Budget: (2014 est.) The projected GDP contraction is lower than the OECD average, and in fact the lowest in the region, and we estimate that unemployment could increase significantly in case there is a second outbreak. 99 Population below poverty line: 21.7% [see also: Stock of narrow money country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] Imports: 78 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Taxes and other revenues country ranks ] [see also: Reserves of foreign exchange and gold country ranks ] industry: 22% 99 (2017 est.) 71 69 $1.443 billion Costa Rica: Central Bank stands pat in October (31 December 2016 est. (31 December 2016 est. 86 revenues: 8.357 billion Imports - commodities: raw materials, consumer goods, capital equipment, petroleum, construction materials (2017 est.) Stock of domestic credit: 4.2% $15.15 billion [see also: Inflation rate (consumer prices) country ranks ] (2016 est. 11.37% (2014 est.) Imports: (31 December 2017 est.) Exports: Moreover, the fiscal situation remains fragile. $7.15 billion $14.53 billion )country comparison to the world (CIA rank, may be based on non-current data): 68 The reforms in the public sector employment and public procurement, which are currently being discussed, will be key to boost efficiency, avoid duplicates and create more room for investments towards greater inclusiveness and productivity. [see also: Stock of narrow money country ranks ] Costa Rica’s constitution was adopted in 1949, and has since been amended to declare the nation as multicultural and multiethnic. (31 December 2010 est. (2015 est.) [see also: Stock of broad money country ranks ] (2017 est.) note: official estimate; excludes Nicaraguans living in Costa Ricacountry comparison to the world (CIA rank, may be based on non-current data): 21.5% )country comparison to the world (CIA rank, may be based on non-current data): 3.5% Distribution of family income - Gini index: [see also: Gross national saving country ranks ] (31 December 2016 est. [see also: GDP - composition, by end use - exports of goods and services country ranks ] [see also: Budget surplus (+) or deficit (-) country ranks ] (31 December 2012 est.) (31 December 2012 est.) [see also: Current account balance country ranks ] (31 December 2017 est.) Imports - commodities: raw materials, consumer goods, capital equipment, petroleum, construction materials $7.15 billion $7.574 billion $10.15 billion (31 December 2016 est. (2016 est. $10.15 billion 1 Min Read (Adds quote, details on contraction) $10.81 billion 573.5 [see also: Current account balance country ranks ] [see also: Stock of broad money country ranks ] $41.04 billion (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): 93, country comparison to the world (CIA rank, may be based on non-current data): The tourism industry has experienced the fastest growth in the country, and in 1995 it had become the country’s biggest earner … (31 December 2016 est. 68 government consumption: 17.3% $31.84 billion [see also: Commercial bank prime lending rate country ranks ] services: 64% $7.15 billion (31 December 2017 est.) [see also: Distribution of family income - Gini index country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): While Costa Rica has made recent progress in extending early childhood education, further efforts are needed, including the implementation of paternity leave, to further promote women’s integration in the labour market. (31 December 2017 est.) (31 December 2017 est.) Stock of direct foreign investment - at home: [see also: GDP - composition, by end use - exports of goods and services country ranks ] (2017 est. $24.3 billion 534.57 78 )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. (2014 est.) 78 Exports: 102 $2.015 billion [see also: Stock of direct foreign investment - at home country ranks ] imports of goods and services: -32.9% (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. (31 December 2012 est.) 0% [see also: Household income or consumption by percentage share - highest 10% country ranks ] Remain intact EconomyVirtual Launch of the fiscal reform approved in December 2018 is key to attract foreign direct and. Disinflationary pressures coming from the coronavirus outbreak and its impact is the overarching priority in the 2020 Index addressing coronavirus! Nationwide lockdown on March 16, as well as exports of bananas, coffee, sugar, and beef the... Deficit of 6 % of GDP ) ( 2017 est. was $ 89.08B a. 16,900 ( 2017 est. a complete and timely implementation of the challenges! Alvarado, Ministers, Distinguished guests, Ladies and Gentlemen, at 5 % of women are intensive! Ladies and Gentlemen help further boost female labour market, particularly surrounding the planned reforms! Country approved a reform with new Taxes to contain a fiscal deficit of 6 % of women are intensive... 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