Editing Economy of Costa Rica

{{Short description|none}}
{{Use American English|date=March 2017}}

{{Infobox economy
| country = Costa Rica
| image = San Jose 2020 by @caya here.jpg
| image_size = 310px
| caption = [[San José, Costa Rica|San José]]
| currency = [[Costa Rican colón]] (CRC, ₡)
| year = calendar year
| organs = [[World Trade Organization|WTO]], [[Organisation for Economic Co-operation and Development|OECD]], [[Dominican Republic–Central America Free Trade Agreement|CAFTA-DR]]
| group = {{plainlist|
*[[Developing country|Developing/Emerging]]<ref>{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies |title=World Economic Outlook Database, April 2019 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=29 September 2019}}</ref>
*Upper-middle income economy<ref>{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=29 September 2019}}</ref>}}
| population = {{increase}} 5,213,362 (2022 estimate)<ref>{{cite web |url=https://www.inec.cr/poblacion/estimaciones-y-proyecciones-de-poblacion |title=Population, total - Costa Rica June 2022|publisher=[[National Institute of Statistics and Census of Costa Rica|INEC]] |website=inec.cr |access-date=April 14, 2022}}</ref>
| gdp = {{plainlist|
* {{increase}} $102.59 Billion ([[GDP (nominal)|nominal]]; {{abbr|2025|2025 forecast}})<ref name="IMF DataMapper">{{cite web |url=https://www.imf.org/external/datamapper/profile/CRI |title=IMF DataMapper: Costa Rica|website=[[International Monetary Fund]] |date= 2025 |access-date=24 May 2025}}</ref>
* {{increase}} $169.03 Billion ([[Purchasing power parity|PPP]]; {{abbr|2025|2025 forecast}})<ref name="IMF DataMapper"/> 
}}
| gdp rank = {{plainlist|
* [[List of countries by GDP (nominal)|72th (nominal; 2025)]]
* [[List of countries by GDP (PPP)|87th (PPP; 2025)]]
}}
| growth = {{plainlist|   
* {{Increase}} 4.6%&nbsp;(2022)<ref name="IMF DataMapper" />
* {{Increase}} 5.1%&nbsp;(2023)<ref name="IMF DataMapper" />
* {{Increase}} 4.3%&nbsp;({{abbr|2024f|2024 forecast}})<ref name="IMF DataMapper" />
* {{Increase}} 3.4%&nbsp;({{abbr|2025f|2025 forecast}})<ref name="IMF DataMapper" />
}}
| per capita = {{plainlist|
* {{increase}} $19,100 (nominal; {{abbr|2025|2025 forecast}})<ref name="IMF DataMapper"/>
* {{increase}} $31,461 (PPP; {{abbr|2025|2025 forecast}})<ref name="IMF DataMapper"/> 
}}
| per capita rank = {{plainlist|
*[[List of countries by GDP (nominal) per capita|58th (nominal, 2024)]]
*[[List of countries by GDP (PPP) per capita|64th (PPP, 2024)]]}}
| sectors = {{plainlist|
*agriculture: 5.5%
*industry: 18.6%
*services: 75.9%
*(2016 estimate)<ref name="gfmag.com">{{cite web|url=https://www.gfmag.com/global-data/country-data/costa-rica-gdp-country-report|title=Global Finance Magazine – Costa Rica GDP and Economic Data|website=gfmag.com|access-date=1 January 2023}}</ref>}}
| inflation = {{Increase}} -0.33% (May 2024)<ref>{{cite web |url=https://gee.bccr.fi.cr/indicadoreseconomicos/Cuadros/frmVerCatCuadro.aspx?idioma=2&CodCuadro=2732|title=Consumer price index (CPI)|last=Costa Rica Central Bank|access-date=June 9, 2024}}</ref>
| poverty = {{plainlist|
*{{decreasePositive}} 25.5% (2022)<ref>{{cite web |title=Poverty headcount ratio at national poverty lines (% of population) - Costa Rica |url=https://data.worldbank.org/indicator/SI.POV.NAHC?locations=CR |website=data.worldbank.org |publisher=World Bank |access-date=21 April 2024}}</ref>
*{{decreasePositive}} 10.4% on less than $6.85/day (2022)<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.UMIC?locations=CR |title=Poverty headcount ratio at $5.50 a day (2011 PPP) (% of population) - Costa Rica |publisher=[[World Bank]] |website=data.worldbank.org |access-date=21 April 2024}}</ref>}}
| gini = {{decreasePositive}} 47.2 {{color|red|high}} (2022)<ref>{{cite web |url=https://data.oecd.org/chart/5SSD |title=Income inequality |publisher=[[OECD]] |website=data.oecd.org |access-date=21 April 2024}}</ref>
| hdi = {{plainlist|
*{{increase}} 0.806 {{color|darkgreen|very high}} (2022)<ref name="crhdi">{{Cite web |date=13 March 2024 |title=Human Development Report 2023/2024 |url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf|url-status=live |archive-url=https://web.archive.org/web/20240313164319/https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf |archive-date=13 March 2024 |access-date=18 May 2024 |publisher=[[United Nations Development Programme]] |language=en}}</ref> ([[List of countries by Human Development Index|64th]])
*{{increase}} 0.656 {{color|darkorange|medium}} [[List of countries by inequality-adjusted HDI|IHDI (67th)]] (2022)<ref name="crhdi"/>}}
| labor = {{plainlist|
*{{increase}} 2,407,610 (2023)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=CR |title=Labor force, total - Costa Rica |publisher=[[World Bank]] |website=data.worldbank.org |access-date=21 April 2024}}</ref>
*{{increase}} 54.5% employment rate (2022)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.EMP.TOTL.SP.NE.ZS?locations=CR |title=Employment to population ratio, 15+, total (%) (national estimate) - Costa Rica |publisher=[[World Bank]] |website=data.worldbank.org |access-date=21 April 2024}}</ref>}}
| unemployment = {{decreasePositive}} 10.5% (2019)<ref name="gfmag.com"/>
| average gross salary = ₡759,095 / $1,498 monthly<ref name="ReferenceA">[https://www.oecd.org/content/dam/oecd/en/publications/reports/2025/04/taxing-wages-2025_20d1a01d/b3a95829-en.pdf#page176 Taxing Wages 2024: Tax and Gender through the Lens of the Second Earner | READ online.]</ref><ref name="ReferenceB">[https://www.oecd.org/en/publications/taxing-wages-2025_b3a95829-en.html Taxing Wages 2024: Tax and Gender through the Lens of the Second Earner | OECD iLibrary.]</ref> (2024)
| average net salary = ₡678,100 / $1,339 monthly<ref name="ReferenceA">[https://www.oecd.org/content/dam/oecd/en/publications/reports/2025/04/taxing-wages-2025_20d1a01d/b3a95829-en.pdf#page176 Taxing Wages 2024: Tax and Gender through the Lens of the Second Earner | READ online.]</ref><ref name="ReferenceB">[https://www.oecd.org/en/publications/taxing-wages-2025_b3a95829-en.html Taxing Wages 2024: Tax and Gender through the Lens of the Second Earner | OECD iLibrary.]</ref> (2024)
| industries = medical equipment, food processing, textiles and clothing, construction materials, fertilizer, plastic products
| edbr = {{decrease}} [[Ease of doing business index#Ranking|74th (easy, 2020)]]<ref name="World Bank and International Financial Corporation">{{cite web |url=http://www.doingbusiness.org/data/exploreeconomies/costa-rica |title=Ease of Doing Business in Costa Rica |publisher=Doingbusiness.org |access-date=24 November 2017 }}</ref>
| exports = {{increase}} $33.68 billion (2023 est.)<ref name="CIAWFCS"/>
| export-goods = bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment
| export-partners = {{plainlist|
*{{flag|United States}} 40.9%
*{{flag|Belgium}} 6.3%
*{{flag|Panama}} 5.6%
*{{flag|Netherlands}} 5.6%
*{{flag|Nicaragua}} 5.1%
*{{flag|Guatemala}} 5%
*(2017)<ref name="CIAWFCS"/>}}
| imports = {{increase}} $28.41 billion (2023 est.)<ref name="CIAWFCS">{{Cite CIA World Factbook|country=Costa Rica|access-date=30 November 2019}}</ref>
| import-goods = raw materials, consumer goods, capital equipment, petroleum, construction materials
| import-partners = {{plainlist|
*{{flag|United States}} 38.1%
*{{flag|China}} 13.1%
*{{flag|Mexico}} 7.3%
*(2017)<ref name="CIAWFCS"/>}}
| current account = {{decrease}} −$1.692 billion (2017 est.)<ref name="CIAWFCS"/>
| FDI = {{plainlist|
*{{increase}} $33.92 billion (31 December 2017 est.)<ref name="CIAWFCS"/>
*{{increase}} Abroad: $4.007 billion (31 December 2017 est.)<ref name="CIAWFCS"/>}}
| gross external debt = {{increaseNegative}} $26.83 billion (31 December 2017 est.)<ref name="CIAWFCS"/>
| debt = {{decreasePositive}} 73.1% of GDP (2024 est.)<ref name="CIAWFCS"/>
| revenue = 8.357 billion (2017 est.)<ref name="CIAWFCS"/>
| expenses = 11.92 billion (2017 est.)<ref name="CIAWFCS"/>
| balance = −6.1% (of GDP) (2017 est.)<ref name="CIAWFCS"/>
| reserves = {{increase}} $12.84 billion (Nov, 2023 est.)
| credit = BB− per [[Standard & Poor's]] (2017)<ref>{{Cite web |url=http://www.gbm.scotiabank.com/English/bns_econ/costarica-execbriefing.pdf |title=Archived copy |access-date=2017-08-05 |archive-url=https://web.archive.org/web/20170805181549/http://www.gbm.scotiabank.com/English/bns_econ/costarica-execbriefing.pdf |archive-date=2017-08-05 |url-status=dead }}</ref>
| cianame = costa-rica
| spelling = US
}}
[[File:Real GPD per capita development of Costa Rica.jpg|thumb|right|Real GPD per capita development in Costa Rica]]
The '''economy of [[Costa Rica]]''' has been very [[economic stability|stable]] for some years now,
with continuing growth in the GDP (Gross Domestic Product) and moderate inflation, though with a high unemployment rate: 11.49% in 2019.<ref>{{cite web|url=https://data.worldbank.org/indicator/SL.UEM.TOTL.NE.ZS?locations=CR&view=chart|title=Unemployment, total (% of total labor force) (national estimate) - Costa Rica|publisher=World Bank |date=21 June 2020 |access-date=5 December 2020}}</ref> Costa Rica's economy emerged from recession in 1997 and has shown strong aggregate growth since then.<ref name="gfmag.com"/><ref name="focus-economics.com">{{cite web|url=http://www.focus-economics.com/countries/costa-rica|title=Costa Rica Economy – GDP, Inflation, CPI and Interest Rate|last=FocusEconomics|website=FocusEconomics – Economic Forecasts from the World's Leading Economists|date=2 January 2014 |access-date=1 January 2023}}</ref> The estimated GDP for 2023 is US$90 billion, up significantly from the US$52.6 billion in 2015<ref name="focus-economics.com"/> while the estimated 2024 per capita (purchasing power parity) is US$28,558.<ref name="IMFWEOCR">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/April/weo-report?c=111,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2022&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=Report for Selected Countries and Subjects: April 2024|publisher=[[International Monetary Fund]]|website=imf.org}}</ref>

Inflation remained around 4% to 5% per annum for several years up to 2015 but then dropped to 0.7% in 2016; it was expected to rise to a still moderate 2.8% by the end of 2017<ref>{{cite web|url=https://www.focus-economics.com/country-indicator/costa-rica/inflation|title=Costa Rica Inflation Rate (CPI) – FocusEconomics|last=FocusEconomics|website=FocusEconomics – Economic Forecasts from the World's Leading Economists|access-date=2 April 2018}}</ref> In 2017, Costa Rica had the highest standards of living in Central America<ref name="bbc.com">{{cite news|url=https://www.bbc.com/news/world-latin-america-19414068|title=Costa Rica country profile|work=BBC News |date=2 April 2018|access-date=2 April 2018}}</ref> in spite of the high poverty level. The poverty level dropped by 1.2% in 2017 to 20.5%,  thanks to reducing inflation and benefits offered by the government.<ref name="ticotimes.net">{{cite web|url=http://www.ticotimes.net/2016/10/27/costa-rica-poverty-rates|title=Costa Rica records lowest poverty figures in seven years|website=ticotimes.net|date=27 October 2016 |access-date=2 April 2018}}</ref><ref name="bbc.com"/> The estimated unemployment level in 2017 was 8.1%, roughly the same as in 2016.<ref name="gfmag.com"/>

The country has evolved from an economy that once depended solely on [[agriculture]], to one that is more diverse, based on [[tourism]], [[electronics]] and medical components exports, medical manufacturing and IT services.<ref name="bbc.com"/><ref>{{cite web|url=https://www.thebusinessyear.com/costa-rica-2017/the-next-step/interview|title=The Next Step|website=The Business Year|access-date=2 April 2018|archive-date=3 August 2017|archive-url=https://web.archive.org/web/20170803220618/https://www.thebusinessyear.com/costa-rica-2017/the-next-step/interview|url-status=dead}}</ref> Corporate services for foreign companies employ some 3% of the workforce.<ref name="seattletimes.com">{{cite web|url=http://www.seattletimes.com/business/amazon/amazon-invests-in-costa-rica-as-it-carves-itself-a-profitable-niche-in-the-world-economy/|title=Amazon invests in Costa Rica as tiny nation carves out profitable niche in world economy|date=11 March 2017|website=seattletimes.com|access-date=2 April 2018}}</ref> Of the GDP, 5.5% is generated by agriculture, 18.6% by industry and 75.9% by services (2016).<ref name="gfmag.com"/> Agriculture employs 12.9% of the labor force, industry 18.57%, services 69.02% (2016)<ref name="statista.com">{{cite web|url=https://www.statista.com/statistics/454908/employment-by-economic-sector-in-costa-rica/|title=Costa Rica – employment by economic sector – Statistic|website=Statista|access-date=2 April 2018}}</ref> Many foreign companies operate in the various [[Free-trade zone]]s.<ref name="news.co.cr">{{cite web|url=http://news.co.cr/major-business-success-costa-rica-free-trade-zones/50129/|title=Major Business Success for Costa Rica Free Trade Zones – Costa Rica Star News|date=23 August 2016|website=news.co.cr|access-date=2 April 2018}}</ref> In 2015, exports totalled US$12.6 billion while imports totalled US$15 billion for a trade deficit of US$2.39 billion.<ref name="mit.edu">{{cite web|url=http://atlas.media.mit.edu/en/profile/country/cri/|title=OEC – Costa Rica (CRI) Exports, Imports, and Trade Partners|website=atlas.media.mit.edu|access-date=2 April 2018}}</ref>

The growing debt and budget deficit are the country's primary concerns.<ref>{{cite web|url=https://www.imf.org/en/News/Articles/2016/12/16/PR16562-Costa-Rica-IMF-Mission-Concludes-Visit|title=IMF Mission Concludes Visit to Costa Rica|website=imf.org|access-date=2 April 2018}}</ref> By August 2017, Costa Rica was having difficulty paying its obligations and the President promised dramatic changes to handle the "liquidity crisis".<ref name="efe.com">{{cite web|url=https://www.efe.com/efe/english/business/costa-rica-will-have-trouble-paying-bills-president-says/50000265-3342508#|title=Costa Rica will have trouble paying bills, president says|website=efe.com|access-date=2 April 2018}}</ref><ref name="qcostarica.com">{{cite web| url = http://qcostarica.com/costa-rica-government-faces-liquidity-problems/| title = Costa Rica Government Faces "Liquidity" Problems – Q COSTA RICA| date = 2 August 2017}}</ref> Other challenges face Costa Rica in its attempts to increase the economy by foreign investment. They include a poor infrastructure and a need to improve public sector efficiency.<ref name="news.co.cr1">{{cite web|url=http://news.co.cr/costa-rica-playing-fire-delaying-fiscal-reform-says-intl-expert/63565/|title=Costa Rica "Playing With Fire" By Delaying Fiscal Reform Says Intl Expert – Costa Rica Star News|date=24 July 2017|website=news.co.cr|access-date=2 April 2018}}</ref><ref>{{cite web|url=http://www.heritage.org/index/country/costarica|archive-url=https://web.archive.org/web/20090115142430/http://www.heritage.org/index/country/CostaRica|url-status=unfit|archive-date=January 15, 2009|title=Costa Rica Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption|website=heritage.org|access-date=2 April 2018}}</ref>

==Public debt and deficit==
One of the country's major concerns is the level of the public debt, especially as a percentage of the GDP (Gross Domestic Product), increasing from 29.8% in 2011 to 40.8% in 2015 and to 45% in 2016.<ref name="oecd.org">{{cite web|url=http://www.oecd.org/eco/outlook/costa-rica-economic-forecast-summary.htm|title=Costa Rica – Economic forecast summary (November 2017) |website=oecd.org|access-date=2 April 2018}}</ref><ref name="focus-economics.com"/><ref name="gfmag.com"/> The total debt in 2015 was $22.648 billion, up by nearly $3 billion from 2014. On a per capita basis, the debt was $4,711 per person.<ref name="countryeconomy.com">{{cite web|url=http://countryeconomy.com/national-debt/costa-rica|title=Costa Rica National Debt 2016|website=countryeconomy.com|access-date=2 April 2018}}</ref> Costa Rica had a formal line of credit with the [[World Bank]] valued at US$947 million in April 2014, of which US$645 million had been accessed and US$600 million remained outstanding.<ref name=wb>{{cite web|url=https://finances.worldbank.org/en/countries/Costa%20Rica|title=Costa Rica – Country Summary – World Bank Group Finances|work=World Bank Group Finances|access-date=11 June 2015|archive-url=https://web.archive.org/web/20150713121125/https://finances.worldbank.org/en/countries/Costa%20Rica|archive-date=13 July 2015|url-status=dead}}</ref>

In a June 2017 report, the [[International Monetary Fund]] stated that annual growth was just over 4% with moderate inflation. The report added that "financial system appears sound, and credit growth continues to be consistent with healthy financial deepening and macroeconomic trends. The agency noted that the fiscal deficit remains high and public debt continues to rise rapidly despite the authorities’ deepened consolidation efforts in 2016. Recent advances in fiscal consolidation have been partly reversed and political consensus on a comprehensive fiscal package remains elusive".<ref name="imf.org">{{cite web|url=http://www.imf.org/en/News/Articles/2017/06/27/pr17251-imf-executive-board-concludes-2017-article-iv-consultation-with-costa-rica|title=IMF Executive Board Concludes 2017 Article IV Consultation with Costa Rica|website=imf.org|access-date=2 April 2018}}</ref><ref name="imf.org1">{{cite web|url=https://www.imf.org/en/News/Articles/2017/05/15/ms051517-costa-rica-staff-concluding-statement-of-the-2017-article-iv-mission|title=Costa Rica: Staff Concluding Statement of the 2017 Article IV Mission|website=imf.org|access-date=2 April 2018}}</ref>

The IMF also expressed concern about increasing deficits, public debt and the heavy dollarization of bank assets and liabilities, warning that in tighter-than-expected global financial conditions these aspects would "seriously undermine investor confidence". The group also recommended taking steps to reduce pension benefits and increase the amount of contribution by the public and increasing the cost effectiveness of the education system.<ref name="imf.org"/><ref name="imf.org1"/>

The country's credit rating was reduced by [[Moody's Investors Service]] in early 2017 to Ba2 from Ba1, with a negative outlook on the rating. The agency particularly cited the "rising government debt burden and persistently high fiscal deficit, which was 5.2% of GDP in 2016". Moody's was also concerned about the "lack of political consensus to implement measures to reduce the fiscal deficit [which] will result in further pressure on the government's debt ratios".<ref name="moodys.com">{{cite web|url=https://www.moodys.com/research/Moodys-downgrades-Costa-Ricas-government-bond-rating-to-Ba2-continued--PR_361770|title=Moody's downgrades Costa Rica's government bond rating to Ba2, continued negative outlook|date=9 February 2017|website=moodys.com|access-date=2 April 2018}}</ref> In late July 2017, the Central Bank estimated the budget deficit at 6.1 percent of the country's GDP. A 2017 study by the Organisation for Economic Co-operation and Development warned that reducing the foreign debt must be a very high priority for the government. Other fiscal reforms were also recommended to moderate the budget deficit.<ref name="news.co.cr1"/>

In 2014, President Solís presented a budget with an increase in spending of 19% for 2015, an increase of 0.5% for 2016 and an increase of 12% for 2017.<ref name="qcostarica.com"/> When the 2017 budget was finally proposed, it totaled US$15.9 billion. Debt payments account for one-third of that amount. Of greater concern is the fact that a full 46% of the budget will require financing, a step that will increase the debt owed to foreign entities.<ref name="ticotimes.net1">{{cite web|url=http://www.ticotimes.net/2016/09/05/costa-rica-national-budget-2017|title=Government presents 2017 budget proposal with 12 percent hike|website=ticotimes.net|date=5 September 2016|access-date=2 April 2018}}</ref> In late July 2017, the Central Bank estimated the budget deficit at 6.1 percent of the country's GDP.<ref name="sandiegouniontribune.com">{{cite web|url=http://www.sandiegouniontribune.com/hoy-san-diego/news/|title=Hoysd.com: News Hoy San Diego – San Diego Union Tribune|website=sandiegouniontribune.com|access-date=2 April 2018|archive-date=16 December 2018|archive-url=https://web.archive.org/web/20181216031723/https://www.sandiegouniontribune.com/hoy-san-diego/news/|url-status=dead}}</ref>

===Liquidity crisis===

In early August 2017, President [[Luis Guillermo Solís]] admitted that the country was facing a "liquidity crisis", an inability to pay all of its obligations and to guarantee the essential services. To address this issue, he promised that a higher VAT and higher income tax rates were being considered by his government. Such steps are essential, Solís told the nation.<ref name="sandiegouniontribune.com"/> "Despite all the public calls and efforts we have made since the start of my administration to contain spending and increase revenues, there is still a gap that we must close with fresh resources," he said. The crisis was occurring in spite of the growth, low inflation and continued moderate interest rates, Solís concluded.<ref name="efe.com"/>
 
Solís explained that the Treasury will prioritize payments on the public debt first, then salaries, and then pensions. The subsequent priorities include transfers to institutions "according to their social urgency." All other payments will be made only if funds are available.<ref name="qcostarica.com"/>

==Other challenges==
A 2016 report by the U.S. government report identifies other challenges facing Costa Rica as it works to expand its economy by working with potential foreign investors:<ref name="auto">{{cite web|url=http://2016.export.gov/costarica/doingbusinessincostarica/index.asp|title=Export.gov – CCG|last=ITA|website=2016.export.gov|access-date=2 April 2018|archive-url=https://web.archive.org/web/20170418225120/http://2016.export.gov/costarica/doingbusinessincostarica/index.asp|archive-date=18 April 2017|url-status=dead}}</ref>

* The ports, roads, water systems would benefit from major upgrading. Attempts by China to invest in upgrading such aspects were "stalled by bureaucratic and legal concerns".
* The bureaucracy is "often slow and cumbersome".
* The country needs even more workers who are fluent in English and languages such as Portuguese, Mandarin and French. It would also benefit from more graduates in Science, Technology, Engineering and Math (STEM) programs.
* Some sectors are controlled by a state monopoly which excludes competition but in other respects, "Costa Rican laws, regulations and practices are generally transparent and foster competition".
* The country has been slow in completing environmental impact assessments which have caused delays in projects being completed.
* Product registration is a slow process, although this may improve with digitization.
* In spite of government attempts at improving the enforcement of intellectual property laws, this aspect remains a concern.<ref>{{cite web|url=https://www.state.gov/e/eb/rls/othr/ics/2017/wha/270058.htm|archive-url=https://web.archive.org/web/20170630110732/https://www.state.gov/e/eb/rls/othr/ics/2017/wha/270058.htm|url-status=dead|archive-date=30 June 2017|title=Costa Rica|website=state.gov|access-date=2 April 2018}}</ref>

==Natural resources==
{{See also|Ecotourism in Costa Rica}}
Costa Rica's rainfall, and its location in the [[Central American isthmus]], which provides easy access to North and South American markets and direct ocean access to the European and Asian Continents. Costa Rica has two seasons, both of which have their own agricultural resources: the tropical wet and dry seasons. One-fourth of Costa Rica's land is dedicated to national forests, often adjoining beaches, which has made the country a popular destination for affluent retirees and [[Ecotourism|ecotourists]].

A full 10.27% of the country is protected as national parks while an additional 17% is set aside for reserves, wildlife refuges and protected zones. Costa Rica has over 50 wildlife refuges, 32 major national parks, more than 12 forest reserves and a few biological reserves.<ref>{{cite web|url=https://costarica.org/national-parks/|title=Costa Rica National Parks – Volcanoes & Rainforest Reserves|website=costarica.org|access-date=2 April 2018}}</ref>

Because of ocean access, 23.7% of Costa Rica's people [[fishing|fish]] and trade their catches to fish companies; this is viewed as "small scale artisanal coastal" fishing and is most common in the Gulf of Nicoya. Costa Rica also charges licensing fees for commercial fishing fleets<ref>{{cite web|url=http://www.fao.org/fi/oldsite/FCP/en/CRI/profile.htm|title=FAO Fishery Country Profile – REPUBLIC OF COSTA RICA|website=fao.org|access-date=2 April 2018|archive-date=29 July 2021|archive-url=https://web.archive.org/web/20210729023318/http://www.fao.org/fi/oldsite/FCP/en/CRI/profile.htm|url-status=dead}}</ref><ref>{{cite web|url=http://www.ticotimes.net/2017/03/15/tuna-fish-costa-rica|title=New study: Costa Rica is giving away its fishing wealth|website=ticotimes.net|date=16 March 2017|access-date=2 April 2018}}</ref> that are taking tuna, sardines, banga mary, mahi-mahi, red tilapia, shrimp, red snapper, other snappers, shark, marlin and sailfish.<ref>{{cite web|url=http://www.sea-ex.com/countryinfo/costarica.htm|title=Costa Rica Seafood Fishing Industry Companies – Info|website=sea-ex.com|access-date=2 April 2018}}</ref> In mid 2017, the country was planning to ban large-scale commercial fishing off the southern Pacific Coast in an area nearly a million acres in size. The bill in congress was intended to "protect the extraordinary marine and coastal resources" from  "indiscriminate and unsustainable commercial fishing."<ref>{{cite web|url=http://www.sportfishingmag.com/fishing-travel-costa-rica-new-marine-reserve|title=Fishing Travel News — Costa Rica's New Marine Reserve, and More|website=sportfishingmag.com|date=July 2017 |access-date=2 April 2018}}</ref>

Sport fishing in Costa Rica is an important part of the tourism industry; species include marlin, sailfish, dorado, tarpon, snook, rooster fish, wahoo, tuna, mackerel, snapper and rainbow bass.<ref>{{cite web|url=https://www.anywherecostarica.com/maps/fishing|title=Fishing, Costa Rica Map|website=anywherecostarica.com|access-date=2 April 2018}}</ref><ref>{{cite web|url=http://news.co.cr/sport-fishing-industry-requests-protection-of-sailfish-marlin-in-costa-rica/58551/|title=Sport Fishing Industry Requests Protection of Sailfish, Marlin in Costa Rica |date=28 March 2017|website=news.co.cr|access-date=2 April 2018}}</ref>

In terms of the 2012 [[Environmental Performance Index]] ranking, Costa Rica is 5th in the world, and first among the Americas.<ref name=EPI2012>{{cite web|title=2010 EPI Rankings|url=http://epi.yale.edu/epi2012/rankings|access-date=2012-01-25|author=Yale Center for Environmental Law & Policy / Center for International Earth Science Information Network at Columbia University|url-status=dead|archive-url=https://archive.today/20120505092852/http://epi.yale.edu/epi2012/rankings|archive-date=2012-05-05}}</ref> The World Economic Forum's 2017 Travel & Tourism Competitiveness Report ranked Costa Rica as third of 136 countries based on natural resources, the number of World Heritage natural sites, protected areas and species as well as eco tourism.<ref>{{cite web|url=http://news.co.cr/costa-rica-third-country-natural-resources/60393/|title=Costa Rica Ranks Third in Countries with most Natural Resources – Costa Rica Star News|date=6 May 2017|website=news.co.cr|access-date=2 April 2018}}</ref>

==Tourism==
[[Image:Cataract on the Rio Savegre.jpg|thumb|[[Ecotourism]] is key in [[Costa Rica]]'s tourism industry. Shown Savegre River, Talamanca.]]
{{Main|Tourism in Costa Rica}}
With a $1.92-billion-a-year [[tourism]] industry, Costa Rica was the most visited nation in the Central American region, with 2.42 million foreign visitors in 2013.<ref>{{cite web|url=http://www.nacion.com/economia/Costa-Rica-registra-millones-turistas_0_1390861044.html|language=es|publisher=Nación|date=2014-01-16|access-date=2014-01-16|title=Costa Rica registró la llegada de más de 2,4 millones de turistas en 2013}}</ref> By 2016, 2.6 million tourists visited Costa Rica. The Tourism Board estimates that this sector's spending in the country represented over US$3.4 billion, or about 5.8% of the GDP.<ref name="news.co.cr2">{{cite web|url=http://news.co.cr/tourism-represents-large-gdp-costa-rica/62237/|title=Tourism Represents 5.8% of GDP in Costa Rica – Costa Rica Star News|date=16 June 2017|website=news.co.cr|access-date=2 April 2018}}</ref> The World Travel & Tourism Council's estimates indicate a direct contribution to the 2016 GDP of 5.1% and 110,000 direct jobs in Costa Rica; the total number of jobs [[Indirect jobs|indirectly]] supported by tourism was 271,000.<ref name="wttc.org">{{Cite web |url=https://www.wttc.org/-/media/files/reports/economic-impact-research/countries-2017/costarica2017.pdf |title=Archived copy |access-date=2017-08-03 |archive-date=2018-07-20 |archive-url=https://web.archive.org/web/20180720140155/https://www.wttc.org/-/media/files/reports/economic-impact-research/countries-2017/costarica2017.pdf |url-status=dead }}</ref>

[[Ecotourism]] is extremely popular with the many tourists visiting the extensive [[national parks]] and [[protected area]]s around the country. Costa Rica was a pioneer in this type of tourism and the country is recognized as one of the few with real ecotourism.<ref>{{Cite book | last = Honey | first = Martha | year = 1999 | title = Ecotourism and Sustainable Development: Who Owns Paradise? | page = [https://archive.org/details/ecotourismsustai00hone/page/5 5] | publisher = Island Press; 1 edition, Washington, D.C. | quote = ...during the 1980s, ...the country transform itself from a low-key destination for nature lovers into the foremost ecotourism destination in the Americas. | isbn = 1-55963-582-7 | url-access = registration | url = https://archive.org/details/ecotourismsustai00hone/page/5 }}</ref> Other important market segments are adventure, sun and beaches. Most of the tourists come from the U.S. and Canada (46%), and the [[European Union|EU]] (16%),<ref name="ICT06">{{cite web|url=http://www.visitcostarica.com/ict/paginas/modEst/estudios_estadisticas.asp?idIdioma=2|year=2006|publisher=Instituto Costarricense de Turismo|access-date=2008-06-06|language=es|title=Informe de Encuestas IV Trimestre 2006. Aeropuerto Internacional Juan Santamaria|url-status=dead|archive-url=https://web.archive.org/web/20081003194453/http://www.visitcostarica.com/ict/paginas/modEst/estudios_estadisticas.asp?idIdioma=2|archive-date=2008-10-03}} 2006 Annual Survey from the Costa Rican Board of Tourism (ICT)</ref> the prime market travelers in the world, which translates into a relatively high expenditure per tourist of $1000 per trip.

In the 2008 [[Travel and Tourism Competitiveness Report|Travel and Tourism Competitiveness Index]] (TTCI), Costa Rica reached the 44th place in the world ranking, being the first among [[Latin American]] countries, and second if the [[Anglophone Caribbean|Caribbean]] is included.<ref>{{Cite web| year = 2008 | url=http://www.weforum.org/pdf/CGR08/Rankings.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.weforum.org/pdf/CGR08/Rankings.pdf |archive-date=2022-10-09 |url-status=live |title = The Travel & Tourism Competitiveness Report 2008| publisher = World Economic Forum, Geneva, Switzerland | editor1-first = Jennifer|editor1-last= Blanke|editor2-first=Thea |editor2-last=Chiesa}}</ref> Just considering the subindex measuring human, cultural, and natural resources, Costa Rica ranks in the 24th place at a worldwide level, and 7th when considering just the natural resources criteria. The TTCI report also notes Costa Rica's main weaknesses, ground transport infrastructure (ranked 113th), and safety and security (ranked 128th).<ref>{{cite news|url=http://www.nacion.com/ln_ee/2008/marzo/06/economia1451168.html| title=País segundo en competitividad turística en América Latina |newspaper=La Nación|date=2008-03-06|access-date=2007-03-16|language=es}}</ref>
<ref>{{cite news|url=http://www.nacion.com/ln_ee/2008/marzo/09/opinion1454954.html|title=Podemos ser aún mejores|newspaper=La Nación|date=2008-03-08|language=es|access-date=2007-03-16}}</ref>

The online travel magazine [[Travelzoo]] rated Costa Rica as one of five “Wow Deal Destinations for 2012”. The magazine Travel Weekly named Costa Rica the best destination in Central and South America in 2011.<ref>{{cite web|url=http://blog.natureair.com/index.php/2012/02/international-tourism-awards/|title=Costa Rica racks up international awards -|date=16 February 2012|website=natureair.com|access-date=2 April 2018}}</ref> In 2017, the country was nominated in the following categories in the World Travel Awards: Mexico & Central America's Leading Beach Destination, Mexico & Central America's Leading Destination and Mexico & Central America's Leading Tourist Board.<ref>{{cite web|url=https://www.worldtravelawards.com/profile-473-costa-rica-tourism-board|title=Costa Rica Tourism Board on World Travel Awards|website=worldtravelawards.com|access-date=2 April 2018}}</ref>

==Agriculture==
{{Main|Agriculture in Costa Rica}}

Costa Rica's economy was historically based on agriculture, and this has had a large cultural impact through the years. Costa Rica's main [[cash crop]], historically and up to modern times, was [[Banana]]s. The coffee crop had been a major export, but decreased in value to the point where it added only 2.5% to the 2013 exports of the country.<ref name=impex13>{{cite web|url=http://www.inec.go.cr/A/MT/Econ%C3%B3micos/Comercio%20Exterior/Publicaciones/C0/01-2013/Estad%C3%ADsticas%20de%20Comercio%20Exterior.pdf|title=inec.go.cr: "Estadisticas de Comercio Exterior, 2013|website=inec.go.cr|access-date=2 April 2018|archive-url=https://web.archive.org/web/20140704111033/http://www.inec.go.cr/A/MT/Econ%C3%B3micos/Comercio%20Exterior/Publicaciones/C0/01-2013/Estad%C3%ADsticas%20de%20Comercio%20Exterior.pdf|archive-date=2014-07-04|url-status=dead}}</ref>

Agriculture also plays an important part in the country's [[gross domestic product]] (GDP). It makes up about 6.5% of [[Costa Rica]]’s GDP, and employs 12.9% of the [[labor force]] (2016). By comparison, industry employs 18.57% of the labor force, and the service sector 69.02%.<ref name="statista.com"/>
 
Depending on location and altitude, many regions differ in agricultural crops and techniques. The main agricultural exports from the country include: [[banana]]s, [[pineapple]]s (the second highest export, with over 50% share of the world market),<ref>{{cite book|chapter=Executive summary|title=Agricultural Policies in Costa Rica|series=OECD Food and Agricultural Reviews|url=https://www.oecd-ilibrary.org/agriculture-and-food/agricultural-policies-in-costa-rica/executive-summary_9789264269125-3-en|publisher=OECD Publishing|place=Paris|access-date=2018-04-09|pages=15–17|doi=10.1787/9789264269125-3-en|date=3 April 2017|isbn=9789264269118}}</ref> other tropical fruits, [[coffee]] (much of it grown in the Valle Central or Meseta Central),<ref>{{cite web|url=https://www.britannica.com/place/Costa-Rica|title=Costa Rica - Location, Geography, People, Culture, Economy, & History|website=britannica.com|access-date=2 April 2018}}</ref> [[sugar]], [[rice]], palm oil, [[vegetable]]s, [[tropical fruit]]s, [[ornamental plant]]s, [[maize]], and [[potato]]es.

Livestock activity consists of cattle, pigs and horses, as well as poultry. Meat and dairy produce are leading exports according to one source,<ref>{{cite web|url=http://www.museosdecostarica.com/infocostarica4.htm|title=Informacion de Costa Rica|access-date=11 June 2015}}</ref> but both were not in the top 10 categories of 2013.<ref name=impex13/>

The combined export value of forest products and textiles in 2013 did not exceed that of either chemical products or plastics.<ref name=impex13/>

== Mining ==
[[Mining in Costa Rica]] contributes a small amount to the economy. In 2018 5.2 tons of gold were produced.<ref>{{Cite web |last=DGM |title=DGM |url=https://geologia.go.cr/mineria/mineria_de_costa_rica_en_datos.aspx |access-date=2025-05-01 |website=geologia.go.cr |language=es}}</ref>

==Exports, jobs, and energy==

[[Image:Intel Costa 12 2007 SJO 105b.jpg|thumb| [[Intel]] microprocessor facility in Costa Rica]]
Mere decades ago, Costa Rica was known principally as a producer of [[banana]]s and [[coffee]]. Even though bananas, [[pineapple]], [[sugar]], coffee, [[lumber]], [[wood]] products and beef are still important exports, in recent times medical instruments,<ref name="mit.edu"/> [[electronics]], [[pharmaceuticals]], financial outsourcing, software development, and [[ecotourism]] are now the prime exports. High levels of [[education]] and fluency in English among its residents make the country an attractive [[investing]] location.<ref name="auto"/>

In 2015 the following were the major export products (US$): medical instruments ($2 [[billion]]), bananas ($1.24B), tropical fruits ($1.22B), integrated circuits ($841 [[million]]) and orthopedic appliances ($555M). The total exports in 2015 were US$12.6 billion, down from $18.9B in 2010; bananas and medical instruments were the two largest sectors. Total imports in 2015 were $15B, up from $13.8B in 2010; this resulted in a trade deficit.<ref name="mit.edu"/>

Over the years, Costa Rica successfully attracted important investments by such companies as [[Intel|Intel Corporation]], [[Procter & Gamble]], [[Abbott Laboratories]] and Baxter Healthcare. Manufacturing and industry's contribution to GDP overtook agriculture over the course of the 1990s, led by foreign investment in Costa Rica's Free Trade Zones (FTZ) where companies benefit from investment and tax incentives. Companies in such zones must export at least 50% of their services.<ref>{{cite web|url=http://www.cinde.org/en/why/incentives|title=The Investment Promotion Agency of Costa Rica|website=cinde.org|accessdate=2 April 2018}}</ref> Well over half of that type of investment has come from the U.S.<ref>{{cite web|url=http://www.cinde.org/en/why/success-stories|title=CINDE – Why Invest in Costa Rica|website=cinde.org|accessdate=2 April 2018}}</ref> According to the government, the zones supported over 82 thousand direct jobs and 43 thousand indirect jobs in 2015; direct employment grew 5% over 2014. The average wages in the FTZ increased by 7% and were 1.8 times greater than the average for private enterprise work in the rest of the country.<ref name="news.co.cr"/> Companies with facilities in the America Free Zone in Heredia, for example, include Dell, HP, Bayer, Bosch, DHL, IBM and Okay Industries.<ref>{{cite web|url=http://www.americafreezone.com/v2/?q=en|title=America Free Zone|website=americafreezone.com|access-date=2 April 2018}}</ref><ref>{{cite web|url=http://www.cinde.org/en/news/videos/okay-industries-expands-operation-in-costa-rica-and-reinvests-us-2-million|title=Okay Industries Expands Operation in Costa Rica and Reinvests US$ 2 Million|date=19 June 2017|website=cinde.org|access-date=2 April 2018}}</ref>

In 2006 [[Intel]]'s microprocessor facility alone was responsible for 20% of Costa Rican exports and 4.9% of the country's [[GDP]].<ref>{{cite news|url=http://eleconomista.es/empresas-finanzas/noticias/81837/10/06/Intel-supone-el-49-por-ciento-del-PIB-de-Costa-Rica.html |title=Intel supone el 4,9 por ciento del PIB de Costa Rica|date=2006-10-06|newspaper=El Economista|access-date=2008-04-13|language=es }}</ref><ref>{{cite news|url=http://www.lavanguardia.es/premium/publica/publica?COMPID=53410660334&ID_PAGINA=22088&ID_FORMATO=9&turbourl=false|title=Intel fabrica el procesador "más veloz del mundo" en Costa Rica|date=2007-11-13|newspaper=La Vanguardia|access-date=2008-04-13|language=es|archive-date=2008-04-12|archive-url=https://web.archive.org/web/20080412030047/http://www.lavanguardia.es/premium/publica/publica?COMPID=53410660334&ID_PAGINA=22088&ID_FORMATO=9&turbourl=false|url-status=dead}}</ref> In 2014, Intel announced it would end manufacturing in Costa Rica and lay off 1,500 staff but agreed to maintain at least 1,200 employees. The facility continued as a test and design center with approximately 1,600 remaining staff.<ref>{{cite news|url=https://www.reuters.com/article/us-intel-costa-rica-idUSBREA371TJ20140409|title=Intel closes Costa Rica operation, cuts 1,500 jobs|newspaper=Reuters|date=2014-04-08}}</ref> In 2017, Intel had 2000 employees in the country, and was operating a facility which assembles, tests and distributes processors<ref>{{cite web|url=https://www.intel.com/content/www/us/en/jobs/locations/costa-rica/sites.html|title=Intel Locations in Costa Rica|website=Intel|access-date=2 April 2018}}</ref> and a Global Innovation Center, both in Heredia.<ref name="auto"/><ref>{{cite web|url=https://www.intel.com/content/www/us/en/corporate-responsibility/intel-in-costa-rica.html|title=Intel in Costa Rica|website=Intel|access-date=2 April 2018}}</ref>

The fastest growing aspect of the economy is the provision of corporate services for foreign companies which in 2016 employed approximately 54,000 people in a country with a workforce under 342,000; that was up from 52,400 the previous year. For example, [[Amazon.com]] employs some 5,000 people. Many work in the free-trade areas such as Zona Franca America and earn roughly double the national average for service work. This sector generated US$4.6 billion in 2016, nearly as much as tourism.<ref name="seattletimes.com"/>

In 2013, the total FDI stock in Costa Rica amounted to about 40 percent of GDP, of which investments from the United States accounted for 64 percent, followed by the United Kingdom and Spain with 6 percent each.<ref name=imfr/>  Costa Rica's outward foreign direct investment stock is small, at about 3 percent of
GDP as of 2011, and mainly concentrated in Central America (about 57 percent of the total outward direct investment stock).<ref name=imfr>{{cite web|url=http://www.imf.org/external/pubs/ft/scr/2013/cr1380.pdf |archive-url=https://web.archive.org/web/20140704095852/http://www.imf.org/external/pubs/ft/scr/2013/cr1380.pdf |archive-date=2014-07-04 |url-status=live|title=imf.org: "Costa Rica: Selected Issues – IMF Country Report No. 13/80" Mar 2013|website=imf.org|access-date=2 April 2018}}</ref>

[[Tourism]] is an important part of the economy, with the number of visitors increasing from 780,000 in 1996, to 1 million in 1999, and to 2.089 million foreign visitors in 2008, allowing the country to earn $2.144-billion in that year.<ref>{{cite news|url=http://www.nacion.com/ln_ee/2007/diciembre/19/economia1358245.html|language=es|date=2007-12-19|access-date=2008-04-13|newspaper=La Nación|title=País cierra el año con llegada de 1,9 millones de turistas|first1=Hassel|last1=Fallas|trans-title=Country closes year with the arrival of 1.9 million tourists|archive-url=https://web.archive.org/web/20080723210756/http://www.nacion.com/ln_ee/2007/diciembre/19/economia1358245.html|archive-date=2008-07-23}}</ref> By 2016, 2.6 million tourists visited Costa Rica, spending roughly US$3.4 billion.<ref name="news.co.cr2"/> Tourism directly supported 110,000 jobs and indirectly supported 271,000 in 2016.<ref name="wttc.org"/>

{{anchor|Energy}}Costa Rica has not discovered sources of fossil fuels—apart from minor [[coal]] deposits—but its mountainous terrain and abundant rainfall have permitted the construction of a dozen [[hydroelectric power]] plants, making it self-sufficient in all energy needs, except for refined petroleum. In 2017, Costa Rica was considering the export of electricity to neighbouring countries.<ref>{{cite web|url=https://www.theguardian.com/world/2017/jan/05/costa-rica-renewable-energy-oil-cars|title=All that glitters is not green: Costa Rica's renewables conceal dependence on oil|first=Lindsay|last=Fendt|date=5 January 2017|website=the Guardian|access-date=2 April 2018}}</ref> Mild climate and trade winds make neither heating nor cooling necessary, particularly in the highland cities and towns where some 90% of the population lives.
[[Renewable energy in Costa Rica]] is the norm. In 2016, 98.1 per cent of the country's electricity came from green sources: hydro generating stations, geothermal plants, wind turbines, solar panels and biomass plants.<ref name="independent.co.uk">{{cite web|url=https://www.independent.co.uk/environment/costa-rica-renewable-energy-electricity-production-2016-climate-change-fossil-fuels-global-warming-a7505341.html|title=Costa Rica's electricity was produced almost entirely from renewable sources in 2016|date=2 January 2017|website=independent.co.uk|access-date=2 April 2018}}</ref>

==Infrastructure==
{{Main|Transport in Costa Rica|Telecommunications in Costa Rica}}
Costa Rica's infrastructure has suffered from a lack of maintenance and new investment.<ref name="infrastructure-intelligence.com">{{cite web|url=http://www.infrastructure-intelligence.com/article/aug-2016/infrastructure-costa-rica%E2%80%99s-achilles%E2%80%99-heel|title=Is infrastructure Costa Rica's Achilles' heel?|website=Infrastructure Intelligence|access-date=2 April 2018}}</ref> The country has an extensive road system of more than 30,000 kilometers, although much of it is in disrepair; this also applies to ports, railways and water delivery systems.<ref name="infrastructure-intelligence.com"/> According to a 2016 U.S. government report, investment from China which attempted to improve the infrastructure found the "projects stalled by bureaucratic and legal concerns".<ref name="auto"/><ref>{{Cite web |url=http://www.knowyourcountry.com/costarica1111.html |title=Costa rica aml report |access-date=2017-08-04 |archive-url=https://web.archive.org/web/20170805015249/http://www.knowyourcountry.com/costarica1111.html |archive-date=2017-08-05 |url-status=dead }}</ref>

Most parts of the country are accessible by road. The main highland cities in the country's Central Valley are connected by paved all-weather roads with the Atlantic and Pacific coasts and by the [[Pan American Highway]] with [[Nicaragua]] and [[Panama]], the neighboring countries to the North and the South. Costa Rica's [[port]]s are struggling to keep pace with growing trade. They have insufficient capacity, and their equipment is in poor condition. The railroad didn't function for several years, until recent government effort to reactivate it for city transportation. An August 2016 OECD report provided this summary: "The road network is extensive but of poor quality, railways are in disrepair and only slowly being reactivated after having been shut down in the 1990s, seaports quality and capacity are deficient. Internal transportation overly relies on private road vehicles as the public transport system, especially railways, is inadequate."<ref>{{cite journal|url=http://www.oecd-ilibrary.org/economics/a-bird-eye-view-of-costa-rica-s-transport-infrastructure_5jlswbwvwqjf-en|title=A bird-eye view of Costa Rica's transport infrastructure|first1=Mauro|last1=Pisu|first2=Federico|last2=Villalobos|date=3 August 2016|journal=OECD Economics Department Working Papers|access-date=2 April 2018|doi=10.1787/5jlswbwvwqjf-en|doi-access=free}}</ref>

In a June 2017 interview, President Luis Guillermo Solís said that private sector investment would be required to solve the problems. "Of course Costa Rica’s infrastructure deficit is a challenge that outlasts any one government and I hope that we have created the foundations for future administrations to continue building. I have just enacted a law to facilitate Public Private Partnerships, which are the ideal way to develop projects that are too large for the government to undertake. For example the new airport that we are building to serve the capital city will cost $2 billion, so it will need private-sector involvement. There is also the potential for a ‘dry canal’ linking sea ports on our Atlantic and Caribbean Coasts that could need up to $16 billion of investment."<ref>{{cite web|url=http://latam-investor.com/2017/06/interview-president-republic-costa-rica-luis-guillermo-solis/#|title=Interview with the President of the Republic of Costa Rica, Luis Guillermo Solís – LatAm Investor|date=7 June 2017|website=latam-investor.com|access-date=2 April 2018}}</ref>

The government hopes to bring foreign investment, technology, and management into the telecommunications and electrical power sectors, which are monopolies of the state. ICE (Instituto Costarricense de Electricidad) has the monopoly on telecommunications, internet and electricity services. Some limited competition is allowed. In 2011, two new private companies began offering cellular phone service and others offer voice communication over internet connections (VOIP) for overseas calls.<ref>{{cite web|url=https://www.export.gov/article?id=Costa-Rica-telecommunications|title=Costa Rica - Telecommunications/Electric - export.gov|website=export.gov|access-date=2 April 2018}}</ref>

According to [[transparency.org]], Costa Rica had a reputation as one of the most stable, prosperous, and among the least [[corruption|corrupt]] in Latin America in 2007.<ref>{{cite web|title=Global Corruption Report 2007 |url=http://www.transparency.org/publications/gcr/download_gcr|access-date=2008-03-11| author=Transparency International}} Costa Rica ranks 3rd among Latin American countries, and the 55th position worldwide.</ref> However, in fall 2004, three former Costa Rican presidents, [[José María Figueres]], [[Miguel Angel Rodríguez]], and [[Rafael Ángel Calderón Fournier|Rafael Angel Calderon]], were investigated on [[Political corruption|corruption]] charges related to the issuance of government contracts. After extensive legal proceedings Calderon and Rodriguez were sentenced; however, the inquiry on Figueres was dismissed and he was not charged.<ref>{{cite web|url=http://www.coha.org/costa-rica-past-and-present-presidential-corruption-cases-spoil-an-artful-but-inaccurate-pr-campaign/|title=Costa Rica: Past and Present Presidential Corruption Cases Spoil an Artful, but Inaccurate, PR Campaign|website=coha.org|date=3 December 2013 |access-date=2 April 2018}}</ref>

More recently, Costa Rica reached 40th place in 2015, with a score of 55 on the Perception of Corruption scale; this is better than the global average. Countries with the lowest perceived corruption rated 90 on the scale.<ref>{{cite web|url=http://news.co.cr/costa-rica-ranks-world-average-perception-corruption/55598/|title=Costa Rica Ranks Above World Average on Perception of Corruption – Costa Rica Star News|date=25 January 2017|website=news.co.cr|access-date=2 April 2018}}</ref> In late May 2017, the country
Costa Rica applied to become a member of the OECD Anti-Bribery Convention, to be effective in July 2017.<ref>{{cite web|url=http://www.oecd.org/corruption/costa-rica-to-join-the-oecd-anti-bribery-convention.htm|title=Costa Rica to join the OECD Anti-Bribery Convention|website=oecd.org|access-date=2 April 2018}}</ref><ref>{{cite web|url=http://www.oecd.org/corruption/costarica-oecdanti-briberyconvention.htm|title=Costa Rica – OECD Anti-Bribery Convention |website=oecd.org|access-date=2 April 2018}}</ref>

== Foreign trade ==
[[Image:Costa Rica Free Trade Agreements Updated.png|thumb|FTA Costa Rica has approved / is negotiating]]

Costa Rica has sought to widen its economic and trade ties, both within and outside the region. Costa Rica signed a bilateral trade agreement with Mexico in 1994, which was later amended to cover a wider range of products. Costa Rica joined other Central American countries, plus the Dominican Republic, in establishing a Trade and Investment Council with the United States in March 1998, which later became the [[Dominican Republic–Central America Free Trade Agreement]]. [[Costa Rica]] has bilateral free trade agreements with the following countries and blocs which took effect on (see date):
* [[Canada–Costa Rica Free Trade Agreement|Canada]] (November 1, 2002)<ref>{{cite web|url=http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/costarica/index.aspx?lang=eng|title=Canada-Costa Rica Free Trade Agreement|access-date=11 June 2015|archive-url=https://web.archive.org/web/20150421062726/http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/costarica/index.aspx?lang=eng|archive-date=21 April 2015|url-status=dead}}</ref> 
* [[Caribbean Community]] (CARICOM)¨ (November 15, 2002)
* [[Chile]] (February 15, 2002)
* [[China]] (August 1, 2011).
* [[Colombia]] (September 2016)<ref>{{cite web|url=https://home.kpmg.com/xx/en/home/insights/2016/09/tnf-colombia-free-trade-agreement-with-costa-rica.html|title=Colombia: Free trade agreement with Costa Rica|date=26 September 2016|website=KPMG|access-date=2 April 2018}}</ref>
* [[Dominican Republic]] (March 7, 2002)
* [[El Salvador]] Customs union, (1963, re-launched on October 29, 1993)
* [[European Free Trade Association]] (2013)<ref>{{cite web|url=https://www.elanbiz.org/alliances-between-ue-and-costa-rica|title=Alliances between UE and Costa Rica – ElanBiz|website=elanbiz.org|access-date=2 April 2018}}</ref>
* [[European Union]] (October 1, 2013)
* [[Guatemala]] Customs union, (1963, re-launched on October 29, 1993)
* [[Honduras]] Customs union, (1963, re-launched on October 29, 1993)
* [[Mexico]] (January 1, 1995)
* [[Nicaragua]] Customs union, (1963, re-launched on October 29, 1993)
* [[Panama]] (July 31, 1973, renegotiated and expanded for January 1, 2009)
* [[Peru]] (June 1, 2013)
* [[United States]] (January 1, 2009, CAFTA-DR)<ref name="auto"/>
* [[Singapore]] (April 6, 2010)
* [[South Korea]] (March 18, 2019)<ref>{{cite web|url=https://semanariouniversidad.com/ultima-hora/costa-rica-completa-aprobacion-de-tlc-con-corea-del-sur/|title=Costa Rica completa aprobación de TLC con Corea del Sur|date=18 March 2019|website=Semanario Universidad|access-date=1 April 2020}}</ref>

There are no significant trade barriers that would affect imports and the country has been lowering its tariffs in accordance with other Central American countries.<ref>{{cite web|url=https://www.export.gov/article?id=Costa-Rica-Import-Tariffs|title=Costa Rica - Import Tariffs |website=export.gov|access-date=2 April 2018}}</ref> Costa Rica also is a member of the [[Cairns Group]],<ref>{{cite web|url=http://cairnsgroup.org/Pages/Introduction.aspx|title=About The Cairns Group|website=Department of Foreign Affairs and Trade|access-date=2 April 2018}}</ref> an organization of agricultural exporting countries that are seeking access to more markets to increase the exports of agricultural products. Opponents of free agricultural trade have sometimes attempted to block imports of products already grown in Costa Rica, including rice, potatoes, and onions.<ref>{{cite web|url=https://www.export.gov/article?id=Costa-Rica-trade-barriers|title=Costa Rica - Trade Barriers - export.gov|website=export.gov|access-date=2 April 2018}}</ref> By 2015, Costa Rica's agricultural exports totalled US$2.7 billion.<ref>{{cite web|url=http://qcostarica.com/costa-ricas-fruits-exports-beyond-pineapples-and-bananas/|title=Costa Rica's Fruits Exports Beyond Pineapples And Bananas|date=16 May 2017|website=qcostarica.com|access-date=2 April 2018}}</ref>

In 2015, the top export destinations for all types of products were the United States (US$4.29 billion), Guatemala ($587 million), the Netherlands ($537 million), Panama ($535 million) and Nicaragua ($496 million). The top import origins were the United States ($6.06 billion), China ($1.92 billion), Mexico ($1.14 billion), Japan ($410 million) and Guatemala ($409 million). The most significant products imported were Refined Petroleum (8.41% of the total imports) and Automobiles (4.68%). Total imports in 2015 were US$15 billion, somewhat higher than the total exports of a US$12.6 billion, for a negative trade balance of US$2.39 billion.<ref name="mit.edu"/>

== Foreign Direct Investment ==
The Costa Rican government has and is “actively courting FDI” in order to help develop its economy.<ref name=":0">{{Cite web |title=Costa Rica |url=https://www.state.gov/reports/2023-investment-climate-statements/costa-rica/ |access-date=2024-12-11 |website=United States Department of State |language=en-US}}</ref> Foreign Direct Investment (FDI) is a form of investment that promotes development in key industries such as manufacturing, medicine, and tourism.<ref name=":1">{{Cite web |last=Cordero, Jose and Eva Paus |first= |date=April 2008 |title=Foreign Investment and Economic Development in Costa Rica: The Unrealized Potential |url=https://icsid.worldbank.org/sites/default/files/parties_publications/C3164/Claimants%27%20Expert%20Reports%20and%20Opinions/140425%20FTI%20ER1%20and%20Exhibits/FTI%2018__DP13Paus_CorderoApr08.pdf |access-date=December 11, 2024 |website=World Bank}}</ref> FDI's influence provides a very lucrative opportunity for foreign investors which is what continues to attract such large investments year over year.<ref name=":2">{{Cite book |last=OECD |url=https://www.oecd-ilibrary.org/industry-and-services/oecd-tourism-trends-and-policies-2022_a8dd3019-en |title=OECD Tourism Trends and Policies 2022 |date=2022 |publisher=Organisation for Economic Co-operation and Development |location=Paris |language=en |doi=10.1787/a8dd3019-en}}</ref>  Over time FDI inflows in Costa Rica have increased, Net FDI inflow averaged  forty four million dollars per year from 1970 to 1979 and just ten years later this value rose to four hundred and sixteen million dollars.<ref name=":1" />  The 2022 data show that Costa Rica received $3 billion in FDI which accounted for 4.45% of their total GDP.<ref name=":0" />

Growth in FDI is linked to rising tourist arrivals with the numbers rising from 2.1 million in 2011 to 3.1 million in 2019.<ref name=":3">{{Cite web |date=2023 |title=Anuario Estaicito de Turismo 2023 |url=https://www.ict.go.cr/en/root-documentos-no-apagar/estad%C3%ADsticas/informes-estad%C3%ADsticos/anuarios/2005-2015/2571-2023-12/file.html |access-date=December 11, 2024 |website=Instituto Costarricense de Turismo}}</ref> Facilitation of FDI growth is seen as an essential role of the Costa Rican government.<ref name=":4">{{Cite web |last=Horton R. |first=Lynn |date=2009 |title=Buying Up Nature, Economic and Social Impacts of Costa Rica's Ecotourism Boom |url=https://www.uky.edu/~jast239/courses/cr/osa.pdf |access-date=December 11, 2024 |website=University of Kentucky}}</ref> Throughout 2019 and 2022, the government of Costa Rica was able to court investment for a total of 16 new FDI projects with one of the more notable projects being a luxury hotel named One and Only Papagayo.<ref name=":5">{{Cite web |title=Investment Monitor: Tourism Investors are Taking Note of Costa Rica's Potential in the Health and Wellness Market |url=https://www.cinde.org/en/essential-news/investment-monitor-tourism-investors-are-taking-note-of-costa-rica-s-potential-in-the-health-and-wellness-market |access-date=2024-12-11 |website=cinde.org}}</ref>

== Statistics ==
The following table shows the main economic indicators in 1980–2019 (with IMF staff stimtates in 2020–2025). Inflation below 5% is in green.<ref>{{cite web|title=Report for Selected Countries and Subjects|url=https://www.imf.org/external/pubs/ft/weo/2018/01/weodata/weorept.aspx?sy=1980&ey=2023&scsm=1&ssd=1&sort=country&ds=.&br=1&c=238&s=NGDP_RPCH,PPPGDP,PPPPC,PCPIPCH,LUR,GGXWDG_NGDP&grp=0&a=&pr.x=54&pr.y=10|access-date=2018-09-04|language=en-US}}</ref>
{| class="wikitable" style="text-align:center;"
! Year !! GDP<br /><small>(in Bil. US$PPP)</small> !! GDP per capita<br /><small>(in US$ PPP)</small> !! GDP<br /><small>(in Bil. US$nominal)</small> !! GDP per capita<br /><small>(in US$ nominal)</small> !! GDP growth<br /><small>(real)</small> !! Inflation rate<br /><small>(in Percent)</small> !! Unemployment<br /><small>(in Percent)</small> !! Government debt<br /><small>(in % of GDP)</small>
|-
| 1980 || 8.2 || 3,560.1 || 4.9 || 2,108.8 || {{Increase}}0.8% || {{IncreaseNegative}}18.1% || 5.9% || n/a
|-
| 1981 || {{Increase}}8.8 || {{Increase}}3,696.2 || {{Decrease}}2.6 || {{Decrease}}1,111.4 || {{Decrease}}-2.3% || {{IncreaseNegative}}36.8% || {{IncreaseNegative}}8.8% || n/a
|-
| 1982 || {{Decrease}}8.6 || {{Decrease}}3,532.8 || {{Steady}}2.6 || {{Decrease}}1,071.9 || {{Decrease}}-7.3% || {{IncreaseNegative}}90.3% || {{IncreaseNegative}}9.4% || n/a
|-
| 1983 || {{Increase}}9.2 || {{Increase}}3,669.0 || {{Increase}}3.2 || {{Increase}}1,257.4 || {{Increase}}2.9% || {{IncreaseNegative}}32.5% || {{DecreasePositive}}9.2% || n/a
|-
| 1984 || {{Increase}}10.3 || {{Increase}}3,990.2 || {{Increase}}3.7 || {{Increase}}1,421.2 || {{Increase}}8.0% || {{IncreaseNegative}}12.0% || {{DecreasePositive}}5.4% || n/a
|-
| 1985 || {{Increase}}10.7 || {{Increase}}4,024.5 || {{Increase}}3.9 || {{Increase}}1,478.4 || {{Increase}}0.7% || {{IncreaseNegative}}15.1% || {{IncreaseNegative}}6.8% || n/a
|-
| 1986 || {{Increase}}11.6 || {{Increase}}4,206.3 || {{Increase}}4.4 || {{Increase}}1,611.3 || {{Increase}}5.5% || {{IncreaseNegative}}11.8% || {{DecreasePositive}}6.2% || n/a
|-
| 1987 || {{Increase}}12.4 || {{Increase}}4,391.3 || {{Increase}}4.6 || {{Increase}}1,612.6 || {{Increase}}4.8% || {{IncreaseNegative}}16.8% || {{DecreasePositive}}5.6% || n/a
|-
| 1988 || {{Increase}}13.3 || {{Increase}}4,577.5 || {{Steady}}4.6 || {{Decrease}}1,598.0 || {{Increase}}3.4% || {{IncreaseNegative}}20.8% || {{DecreasePositive}}5.5% || n/a
|-
| 1989 || {{Increase}}14.6 || {{Increase}}4,898.1 || {{Increase}}5.3 || {{Increase}}1,763.5 || {{Increase}}5.7% || {{IncreaseNegative}}16.5% || {{DecreasePositive}}3.8% || n/a
|-
| 1990 || {{Increase}}15.7 || {{Increase}}5,137.4 || {{Increase}}5.7 || {{Increase}}1,880.8 || {{Increase}}3.6% || {{IncreaseNegative}}19.1% || {{IncreaseNegative}}4.6% || n/a
|-
| 1991 || {{Increase}}16.6 || {{Increase}}5,307.6 || {{Increase}}7.2 || {{Increase}}2,305.4 || {{Increase}}2.3% || {{IncreaseNegative}}20.2% || {{IncreaseNegative}}5.5% || n/a
|-
| 1992 || {{Increase}}18.5 || {{Increase}}5,798.8 || {{Increase}}8.6 || {{Increase}}2,684.1 || {{Increase}}9.2% || {{IncreaseNegative}}21.8% || {{DecreasePositive}}4.1% || n/a
|-
| 1993 || {{Increase}}20.3 || {{Increase}}6,195.0 || {{Increase}}9.6 || {{Increase}}2,926.9 || {{Increase}}7.1% || {{IncreaseNegative}}9.8% || {{Steady}}4.1% || n/a
|-
| 1994 || {{Increase}}21.7 || {{Increase}}6,421.8 || {{Increase}}10.5 || {{Increase}}3,110.2 || {{Increase}}4.5% || {{IncreaseNegative}}13.6% || {{IncreaseNegative}}4.2% || n/a
|-
| 1995 || {{Increase}}23.0 || {{Increase}}6,637.5 || {{Increase}}11.6 || {{Increase}}3,336.7 || {{Increase}}4.2% || {{IncreaseNegative}}23.2% || {{IncreaseNegative}}5.2% || n/a
|-
| 1996 || {{Increase}}23.8 || {{Increase}}6,668.1 || {{Increase}}11.7 || {{Decrease}}3,277.6 || {{Increase}}1.4% || {{IncreaseNegative}}17.5% || {{IncreaseNegative}}6.2% || 33.7%
|-
| 1997 || {{Increase}}25.5 || {{Increase}}6,974.7 || {{Increase}}12.6 || {{Increase}}3,450.9 || {{Increase}}5.5% || {{IncreaseNegative}}13.3% || {{DecreasePositive}}5.7% || {{DecreasePositive}}30.6%
|-
| 1998 || {{Increase}}27.6 || {{Increase}}7,375.4 || {{Increase}}13.7 || {{Increase}}3,653.2 || {{Increase}}7.2% || {{IncreaseNegative}}11.7% || {{DecreasePositive}}5.6% || {{IncreaseNegative}}40.7%
|-
| 1999 || {{Increase}}29.2 || {{Increase}}7,610.4 || {{Increase}}14.3 || {{Increase}}3,715.4 || {{Increase}}4.2% || {{IncreaseNegative}}10.0% || {{IncreaseNegative}}6.0% || {{DecreasePositive}}39.0%
|-
| 2000 || {{Increase}}31.0 || {{Increase}}8,142.2 || {{Increase}}15.0 || {{Increase}}3,941.1 || {{Increase}}3.9% || {{IncreaseNegative}}11.0% || {{DecreasePositive}}5.2% || {{DecreasePositive}}38.9%
|-
| 2001 || {{Increase}}32.8 || {{Increase}}8,304.2 || {{Increase}}16.0 || {{Increase}}4,041.9 || {{Increase}}3.5% || {{IncreaseNegative}}11.3% || {{IncreaseNegative}}6.1% || {{IncreaseNegative}}39.6%
|-
| 2002 || {{Increase}}34.5 || {{Increase}}8,572.1 || {{Increase}}16.6 || {{Increase}}4,122.8 || {{Increase}}3.4% || {{IncreaseNegative}}9.2% || {{IncreaseNegative}}6.4% || {{IncreaseNegative}}41.4%
|-
| 2003 || {{Increase}}36.7 || {{Increase}}8,975.9 || {{Increase}}17.3 || {{Increase}}4,227.8 || {{Increase}}4.3% || {{IncreaseNegative}}9.4% || {{IncreaseNegative}}6.7% || {{DecreasePositive}}40.6%
|-
| 2004 || {{Increase}}39.3 || {{Increase}}9,473.0 || {{Increase}}18.6 || {{Increase}}4,483.6 || {{Increase}}4.4% || {{IncreaseNegative}}12.3% || {{DecreasePositive}}6.5% || {{IncreaseNegative}}41.0%
|-
| 2005 || {{Increase}}42.2 || {{Increase}}10,005.8 || {{Increase}}20.0 || {{Increase}}4,756.3 || {{Increase}}4.0% || {{IncreaseNegative}}13.8% || {{IncreaseNegative}}6.6% || {{DecreasePositive}}37.3%
|-
| 2006 || {{Increase}}46.7 || {{Increase}}10,906.2 || {{Increase}}22.7 || {{Increase}}5,309.3 || {{Increase}}7.3% || {{IncreaseNegative}}11.5% || {{DecreasePositive}}6.0% || {{DecreasePositive}}33.0%
|-
| 2007 || {{Increase}}51.9 || {{Increase}}11,948.7 || {{Increase}}26.9 || {{Increase}}6,194.0 || {{Increase}}8.2% || {{IncreaseNegative}}9.4% || {{DecreasePositive}}4.6% || {{DecreasePositive}}27.0%
|-
| 2008 || {{Increase}}55.4 || {{Increase}}12,570.4 || {{Increase}}30.8 || {{Increase}}6,993.9 || {{Increase}}4.7% || {{IncreaseNegative}}13.4% || {{IncreaseNegative}}4.9% || {{DecreasePositive}}24.0%
|-
| 2009 || {{Decrease}}55.2 || {{Decrease}}12,357.3 || {{Decrease}}30.7 || {{Decrease}}6,879.3 || {{Decrease}}-0.9% || {{IncreaseNegative}}7.8% || {{IncreaseNegative}}7.8% || {{IncreaseNegative}}26.0%
|-
| 2010 || {{Increase}}58.9 || {{Increase}}12,931.5 || {{Increase}}37.7 || {{Increase}}8,268.9 || {{Increase}}5.4% || {{IncreaseNegative}}5.7% || {{IncreaseNegative}}9.2% || {{IncreaseNegative}}28.1%
|-
| 2011 || {{Increase}}62.8 || {{Increase}}13,605.9 || {{Increase}}42.8 || {{Increase}}9,270.6 || {{Increase}}4.4% || {{Increase}}4.9% || {{IncreaseNegative}}10.5% || {{IncreaseNegative}}29.5%
|-
| 2012 || {{Increase}}67.1 || {{Increase}}14,367.7 || {{Increase}}47.2 || {{Increase}}10,107.5 || {{Increase}}4.9% || {{Increase}}4.5% || {{DecreasePositive}}9.8% || {{IncreaseNegative}}33.7%
|-
| 2013 || {{Increase}}71.2 || {{Increase}}15,034.6 || {{Increase}}50.9 || {{Increase}}10,764.5 || {{Increase}}2.5% || {{IncreaseNegative}}5.2% || {{DecreasePositive}}8.3% || {{IncreaseNegative}}35.1%
|-
| 2014 || {{Increase}}77.0 || {{Increase}}16,076.6 || {{Increase}}52.0 || {{Increase}}10,853.6 || {{Increase}}3.5% || {{Increase}}4.5% || {{IncreaseNegative}}9.7% || {{IncreaseNegative}}37.4%
|-
| 2015 || {{Increase}}82.9 || {{Increase}}17,079.8 || {{Increase}}56.4 || {{Increase}}11,635.2 || {{Increase}}3.7% || {{Increase}}0.8% || {{DecreasePositive}}9.6% || {{IncreaseNegative}}39.8%
|-
| 2016 || {{Increase}}90.8 || {{Increase}}18,503.2 || {{Increase}}58.8 || {{Increase}}11,986.9 || {{Increase}}4.2% || {{Increase}}0.0% || {{DecreasePositive}}9.5% || {{IncreaseNegative}}44.1%
|-
| 2017 || {{Increase}}97.9 || {{Increase}}19,711.7 || {{Increase}}60.5 || {{Increase}}12,185.3 || {{Increase}}4.2% || {{Increase}}1.6% || {{DecreasePositive}}9.3% || {{IncreaseNegative}}47.1%
|-
| 2018 || {{Increase}}102.9 || {{Increase}}20,480.0 || {{Increase}}62.4 || {{Increase}}12,428.9 || {{Increase}}2.6% || {{Increase}}2.2% || {{IncreaseNegative}}12.0% || {{IncreaseNegative}}51.8%
|-
| 2019 || {{Increase}}107.1 || {{Increase}}21,093.9 || {{Increase}}64.1 || {{Increase}}12,623.2 || {{Increase}}2.3% || {{Increase}}2.1% || {{IncreaseNegative}}12.4% || {{IncreaseNegative}}56.7%
|-
| 2020 || {{Decrease}}103.9 || {{Decrease}}20,268.7 || {{Decrease}}61.8 || {{Decrease}}12,057.0 || {{Decrease}}-4.1% || {{Increase}}0.7% || {{IncreaseNegative}}20.0% || {{IncreaseNegative}}67.5%
|-
| 2021 || {{Increase}}111.9 || {{Increase}}21,592.5 || {{Decrease}}61.5 || {{Decrease}}11,860.2 || {{Increase}}3.9% || {{Increase}}1.3% || {{DecreasePositive}}16.3% || {{IncreaseNegative}}71.2%
|-
| 2022 || {{Increase}}119.0 || {{Increase}}22,725.7 || {{Increase}}64.4 || {{Increase}}12,294.1 || {{Increase}}3.5% || {{Increase}}1.5% || {{DecreasePositive}}14.0% || {{IncreaseNegative}}73.3%
|-
| 2023 || {{Increase}}125.6 || {{Increase}}23,739.7 || {{Increase}}68.2 || {{Increase}}12,883.9 || {{Increase}}3.1% || {{Increase}}1.8% || {{DecreasePositive}}12.0% || {{IncreaseNegative}}73.7%
|-
| 2024 || {{Increase}}132.4 || {{Increase}}24,774.6 || {{Increase}}72.2 || {{Increase}}13,509.2 || {{Increase}}3.1% || {{Increase}}2.1% || {{DecreasePositive}}10.5% || {{DecreasePositive}}73.1%
|-
| 2025 || {{Increase}}139.7 || {{Increase}}25,852.6 || {{Increase}}76.4 || {{Increase}}14,140.2 || {{Increase}}3.2% || {{Increase}}2.5% || {{DecreasePositive}}9.5% || {{DecreasePositive}}71.6%
|-
| 2026 || {{Increase}}147.3 || {{Increase}}26,977.3 || {{Increase}}81.1 || {{Increase}}14,853.3 || {{Increase}}3.3% || {{Increase}}2.9% || {{DecreasePositive}}9.0% || {{DecreasePositive}}69.2%
|}

[[Image:Poas crater.jpg|thumb|[[Poás Volcano National Park|Poás Volcano Crater]] is one of Costa Rica's main tourist attractions.]]

'''GDP:'''
US$61.5 billion (2017 estimate)

'''GDP real growth rate:'''
4.3% (2017 estimate)

'''GDP per capita:'''
purchasing power parity: $12,382 (2017 estimate)<ref name="gfmag.com"/>

'''GDP composition by sector:'''
''agriculture:'' 5.5% (2016 estimate) Bananas, pineapples, coffee, beef, sugarcane, rice, corn, dairy products, vegetables, timber, fruits and ornamental plants.
''industry:''
18.6% (2016 estimate) Electronic components, food processing, textiles and apparel, construction materials, cement, fertilizer.
''services:''
75.9% (2016 estimate) Hotels, restaurants, tourist services, banks, call centers and insurance.<ref name="gfmag.com"/>

'''Government bond ratings:''' (January 2017) Standard & Poor's: BB−; Moody's: Ba2<ref>{{Cite web|url=https://www.spratings.com/documents/20184/908557/US_SV_Event_Webcast_AndeanCountries_July2017_Slides/fe245fa7-8255-4fd1-b250-805af892e8fe|title = Home &#124; S&P Global Ratings}}</ref><ref name="moodys.com"/>

'''Budget deficit:''' 6.1 percent of the GDP<ref name="news.co.cr1"/>

'''Population below poverty line:'''
20.5% (2017)<ref name="ticotimes.net"/>

'''Household income or consumption by percentage share:'''
''lowest 10%:''
1.2%
''highest 10%:''
39.5% (2009 est.)

'''Inflation rate (consumer prices):'''
2.6% (2017 estimate)<ref name="gfmag.com"/>

'''Labor force:'''
2.295 million (2016) ''Note: 15 and older, excluding Nicaraguans living in the country''<ref>{{cite web|url=http://www.indexmundi.com/costa_rica/labor_force.html|title=Costa Rica Labor force – Economy|website=indexmundi.com|access-date=2 April 2018}}</ref>
 
'''Labor force by occupation:'''
agriculture 12.9%, industry 18.57%, services 69.02% (2016)<ref name="statista.com"/>

'''Unemployment rate:'''
8.1% (2017 estimate)<ref name="gfmag.com"/>

'''Budget:''' US15.9 billion (2017 proposed) Note: 46% will require financing<ref name="ticotimes.net1"/>

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

'''Industrial production growth rate:'''
4.3% (2013)

'''Electricity production:'''
9.473 billion kWh (2010)

'''Electricity production by source:''' 98.1% from "green sources" (2016)<ref name="independent.co.uk"/>

'''Agriculture products:'''
bananas, pineapples, other tropical fruits, coffee, palm oil, sugar, corn, rice, beans, potatoes, beef, timber

'''Exports:''' US$12.6 billion (2015)<ref name="mit.edu"/>

'''Major export commodities:''' Medical Instruments ($2B), Bananas ($1.24B), Tropical Fruits ($1.22B), Integrated Circuits ($841M) and Orthopedic Appliances ($555M).<ref name="mit.edu"/>

'''Export partners (2016):''' United States ($4.29B), Guatemala ($587M), the Netherlands ($537M), Panama ($535M), Nicaragua ($496M)<ref name="mit.edu"/>

'''Imports:'''
US $15.1 billion (2015)<ref name="mit.edu"/>

'''Major import commodities:''' Refined Petroleum ($1.26B), Cars ($702M), Packaged Medicaments ($455M), Broadcasting Equipment ($374M) and Computers ($281M).<ref name="mit.edu"/>

'''Origin of imports (2016):'''  United States ($6.06B), China ($1.92B), Mexico ($1.14B), Japan ($410M) and Guatemala ($409M).<ref name="mit.edu"/>

'''External debt:'''
US$26.2 billion (January 2016)

'''Economic aid – recipient:'''
$107.1 million (1995)

'''Currency:'''
1 Costa Rican colon (₡) = 100 centimos

'''Exchange rates:'''
Costa Rican colones (₡) per US$1 – 526.46 (March 27, 2015), US$1 – 600 (late May 2017), US$1 – 563 (end of July 2017), US$1 – 677 (May 2022)<ref>{{cite web|url=http://indicadoreseconomicos.bccr.fi.cr/indicadoreseconomicos/IndicadoresEconomicos/frmEstructuraInformacion.aspx?idioma=I&codMenu=%2071&DesTitulo=Daily%20Information|title=Banco Central de Costa Rica|access-date=11 June 2015}}</ref><ref>{{cite web|url=http://www.exchangerates.org.uk/USD-CRC-exchange-rate-history.html|title=US Dollar (USD) to Costa Rica Colon (CRC) exchange rate history|website=exchangerates.org.uk|access-date=2 April 2018}}</ref><ref>{{cite web|url=http://costa-rica-guide.com/practical/money/good-bad-exchange-rates/|title="Good" & "Bad" Exchange Rates|website=costa-rica-guide.com|access-date=2 April 2018}}</ref>

'''Fiscal year:'''
January 1 – December 31

==External links==
{{Portal|Money|Business|Costa Rica}}
* [https://wits.worldbank.org/CountryProfile/en/Country/CRI/Year/LTST/TradeFlow/EXPIMP Costa Rica Exports, Imports and Trade Balance] World Bank
* Tariffs applied by Costa Rica as provided by ITC's [http://www.macmap.org/QuickSearch/FindTariff/FindTariff.aspx?subsite=open_access&country=188&source=1|ITC'''Market Access Map'''], an online database of customs tariffs and market requirements.
{{commons}}

==References==
<ref>102."GDP PPP CR WORLD BANK". World Economic Database, 2021". https://datos.bancomundial.org/indicator/NY.GDP.PCAP.PP.CD?locations=CR. World Bank. Retrieved 5 August 2021.</ref>
<ref>103."GDP NOMINAL CR WORLD BANK". World Economic Database, 2021". https://datos.bancomundial.org/indicator/NY.GDP.PCAP.CD?locations=CR. World Bank. Retrieved 5 August 2021.</ref>
{{Reflist}}

{{Costa Rica topics}}
{{North America in topic|Economy of}}

[[Category:Economy of Costa Rica]]
[[Category:OECD member economies]]