(31 December 2016 est. [see also: GDP - real growth rate country ranks ] (31 December 2016 est. (31 December 2017 est.) President Elect Biden effect on Costa Rica? 71 Budget surplus (+) or deficit (-): -6.1% (of GDP) (2016 est.) Imports - partners: US 38.1%, China 13.1%, Mexico 7.3% $24.3 billion 4.2% [see also: Imports country ranks ] 71 -$1.326 billion $4.007 billion $1.445 billion (2017) 1.6% $33.92 billion )country comparison to the world (CIA rank, may be based on non-current data): 544.74 $33.92 billion Distribution of family income - Gini index: (2017) (31 December 2011 est.) Distribution of family income - Gini index: [see also: Reserves of foreign exchange and gold country ranks ] (2014 est.) Read more. (2013 est. (2017 est.) $24.3 billion $15.15 billion [see also: Imports country ranks ] (2017 est.) 11.37% Imports: 86 [see also: Current account balance country ranks ] investment in inventories: 1% (31 December 2016 est. Ticos are generally proud of their political freedoms and their relatively stable economy. [see also: Stock of domestic credit country ranks ] (2017) We hope that the Survey being launched today will help the Government successfully tackle the challenges that lie ahead. (31 December 2010 est. $7.574 billion (2017) $5.356 billion Commercial bank prime lending rate: government consumption: 17.3% Fiscal year: calendar year Labor force: 2.229 million Population below poverty line: 21.7% industry: 22% 105 -$1.326 billion $7.15 billion (2017 est.) Costa Rica’s economy also faces challenges due to a rising fiscal deficit, rising public debt, and relatively low levels of domestic revenue. (2016 est. investment in inventories: 1% (31 December 2017 est.) -$1.326 billion Fifth, improving regulations would boost productivity and job creation. [see also: Market value of publicly traded shares country ranks ] Stock of direct foreign investment - at home: 99 Population below poverty line: 21.7% 200 90 )country comparison to the world (CIA rank, may be based on non-current data): Stock of domestic credit: )country comparison to the world (CIA rank, may be based on non-current data): 185, country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) Inflation rate (consumer prices): [see also: Taxes and other revenues country ranks ] Exports - commodities: bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment 86 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Central bank discount rate country ranks ] In this challenging context, I would like to first congratulate the Costa Rican authorities for the innovative measures adopted to respond to the pandemic and to protect the most vulnerable. $33.92 billion (31 December 2012 est.) (31 December 2017 est.) Imports: Central bank discount rate: 89 103 538.32 160 (2015 est.) $38.21 billion 78 Exports - commodities: bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment [see also: Gross national saving country ranks ] | Photo: EFE Published 13 October 2020 Current account balance: 86 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): (31 December 2017 est.) (31 December 2017 est.) 89 89 $15.15 billion )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. $10.15 billion Reserves of foreign exchange and gold: The Covid-19 crisis is a great challenge for the country. (2016 est.) $14.53 billion [see also: GDP - composition, by end use - imports of goods and services country ranks ] (2016 est. $10.81 billion )country comparison to the world (CIA rank, may be based on non-current data): 78 )country comparison to the world (CIA rank, may be based on non-current data): Market value of publicly traded shares: 103 1.6% (2013 est. November 12, 2020. [see also: Public debt country ranks ] $15.15 billion [see also: Stock of direct foreign investment - at home country ranks ] (31 December 2016 est. $10.15 billion Agriculture - products: bananas, pineapples, coffee, melons, ornamental plants, sugar, corn, rice, beans, potatoes; beef, poultry, dairy; timber 68 (31 December 2016 est. 21.5% Market value of publicly traded shares: [see also: GDP - composition, by sector of origin - agriculture country ranks ] (31 December 2017 est.) (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) Commercial bank prime lending rate: )country comparison to the world (CIA rank, may be based on non-current data): 49.2 (31 December 2016 est. (31 December 2016 est. Costa Rica: Inflation picks up pace in October. Stock of direct foreign investment - at home: Labor force - by occupation: (2017 est.) (2014) Commercial bank prime lending rate: $10.15 billion )country comparison to the world (CIA rank, may be based on non-current data): (2013 est. $7.574 billion (2017 est.) $7.574 billion Unemployment rate: 99 Exchange rates: Costa Rican colones (CRC) per US dollar - (31 December 2017 est.) [see also: GDP - composition, by sector of origin - industry country ranks ] [see also: Labor force country ranks ] Stock of domestic credit: (2016 est. [see also: Debt - external country ranks ] Moreover, existing exemptions to competition rules, such as those granted to essential products like rice, sugar, coffee, should be gradually phased out as they can increase the prices of the basic market basket, which particularly affects the most vulnerable. -$1.692 billion Central bank discount rate: Commercial bank prime lending rate: $1.445 billion [see also: Industrial production growth rate country ranks ] 99 $5.356 billion $24.3 billion The budget deficit will unavoidably increase further due to spending and measures to respond to the pandemic. Poverty has remained around 20-25% for nearly 20 years, and the government’s strong social safety net has eroded due to increased constraints on its expenditures. [see also: Labor force - by occupation - agriculture country ranks ] $5.63 billion agriculture: 5.5% [see also: Market value of publicly traded shares country ranks ] (2016 est.) $2.015 billion Central bank discount rate: $2.015 billion [see also: Imports country ranks ] (31 December 2017 est.) 121 government consumption: 17.3% 544.74 544.74 68 The same year, the GDP per capita was approximately $11,300. (2017 est.) [see also: Stock of narrow money country ranks ] Stock of domestic credit: 48.5 $7.574 billion (2015 est. $1.443 billion (31 December 2010)country comparison to the world (CIA rank, may be based on non-current data): Exports - partners: US 40.9%, Belgium 6.3%, Panama 5.6%, Netherlands 5.6%, Nicaragua 5.1%, Guatemala 5% (2016 est. 102 Stock of broad money: 0% Only 50% of women are in the labour market, which contrast with an OECD average of 70%. Exports - partners: US 40.9%, Belgium 6.3%, Panama 5.6%, Netherlands 5.6%, Nicaragua 5.1%, Guatemala 5% $1.445 billion 11.64% 135 (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): $4.007 billion (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Imports - partners: US 38.1%, China 13.1%, Mexico 7.3% $15.15 billion 3.5% (2017 est.) The economy of Costa Rica shrank 8.6 percent year-on-year in the second quarter of 2020, after expanding a downwardly revised 0.6 percent in the previous period. While the OECD predicts a gradual recovery in 2021 and 2022, it warned that Costa Rica must rush structural reforms to address its growing public debt. (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): $1.443 billion Considered an upper middle-income country, Costa Rica has experienced steady economic expansion over the past 25 years, but the COVID-19 pandemic, among other factors, challenges these achievements 90 78 (31 December 2010)country comparison to the world (CIA rank, may be based on non-current data): $7.15 billion According to our projections, the GDP in 2020 could suffer a contraction within the range of 4% to 5% in 2020, and we estimate a very gradual recovery in 2021 with GDP growing within 1.5% to 2.7%, again depending on the possibility of a second wave of the pandemic. $41.04 billion )country comparison to the world (CIA rank, may be based on non-current data): $15.15 billion [see also: Imports country ranks ] (31 December 2017 est.) (2016 est. Exports: (31 December 2016 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): 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. Exports - commodities: bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment services: 64% [see also: Unemployment rate country ranks ] (31 December 2017 est.) [see also: Central bank discount rate country ranks ] 185 [see also: Public debt country ranks ] [see also: Household income or consumption by percentage share - highest 10% country ranks ] $38.21 billion [see also: Household income or consumption by percentage share - highest 10% country ranks ] [see also: Labor force - by occupation - agriculture country ranks ] 544.74 544.74 (31 December 2016 est. (31 December 2016 est. [see also: Public debt country ranks ] expenditures: 11.92 billion (2014 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2013 est. [see also: Market value of publicly traded shares country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] 86 )country comparison to the world (CIA rank, may be based on non-current data): $14.53 billion 538.32 89 68 [see also: Household income or consumption by percentage share - highest 10% country ranks ] (31 December 2016 est. (2017) (2017 est.) (2014 est.) (31 December 2017 est.) [see also: Commercial bank prime lending rate country ranks ] (31 December 2017 est.) Budget: $15.15 billion Inflation remained around 4% to 5% per annum for several years up to 201 The country seemed to be initially successful in containing the pandemic during the first wave, but the number of cases has been increasing since June when the country gradually reopened. Central bank discount rate: 1.6% 544.74 48.9% of GDP )country comparison to the world (CIA rank, may be based on non-current data): Budget surplus (+) or deficit (-): -6.1% (of GDP) Market value of publicly traded shares: (31 December 2016 est. 11.64% [see also: Debt - external country ranks ] $2.015 billion (2017 est.) (31 December 2017 est.) (2017) 1.6% 86 (2015 est.) (31 December 2016 est. (31 December 2016 est. 86, country comparison to the world (CIA rank, may be based on non-current data): -$1.326 billion )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. [see also: Stock of domestic credit country ranks ] (31 December 2016 est. $4.007 billion [see also: GDP - per capita country ranks ] (31 December 2017 est.) (31 December 2017 est.) Costa Rica’s economic freedom score is 65.8, making its economy the 68th freest in the 2020 Index. (31 December 2017 est.) [see also: Debt - external country ranks ] (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Taxes and other revenues: 14.3% (of GDP) (31 December 2011 est.) (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): (31 December 2017 est.) (2013 est. [see also: Debt - external country ranks ] [see also: Distribution of family income - Gini index country ranks ] (31 December 2017 est.) (2015 est.) (31 December 2017 est.) $33.92 billion Agriculture - products: bananas, pineapples, coffee, melons, ornamental plants, sugar, corn, rice, beans, potatoes; beef, poultry, dairy; timber 99 Costa Rica is certainly not perfect ― it still has relatively high levels of poverty and income inequality ― but the country shows what can be achieved when an economy is set up around the idea of improving people’s lives rather than the pursuit of endless growth. $26.83 billion (2014 est.) $31.84 billion Exports - commodities: bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment (31 December 2017 est.) [see also: Stock of broad money country ranks ] Debt - external: $5.356 billion agriculture: 5.5% -$1.692 billion This edition is a special one, not only because we are facing an unprecedented crisis, but because takes place in the context of the completion of Costa Rica’s accession process to the OECD. )country comparison to the world (CIA rank, may be based on non-current data): [see also: Current account balance country ranks ] 89 Exports: 49.2 103 [see also: GDP - composition, by sector of origin - services country ranks ] 160 (31 December 2017 est.) 185 $24.3 billion )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) 48.9% of GDP [see also: Stock of direct foreign investment - at home country ranks ] (2016 est. 573.5 160 22 -$1.692 billion See more information about that indicator and compare to other countries on our (31 December 2017 est.) GDP - real growth rate: Imports - partners: US 38.1%, China 13.1%, Mexico 7.3% (2017 est. Exchange rates: Costa Rican colones (CRC) per US dollar - [see also: Taxes and other revenues country ranks ] $10.81 billion 89 Costa Rica’s nature economy is a central part of its economic regeneration plan in 2020. )country comparison to the world (CIA rank, may be based on non-current data): [see also: GDP - composition, by end use - household consumption country ranks ] Costa Rica's economy is largely based on tourism and agriculture [Arnoldo Robert/Getty Images] 18 Sep 2020. (2017 est.) 135, country comparison to the world (CIA rank, may be based on non-current data): (2017) (2017 est.) 534.57 Stock of direct foreign investment - abroad: (31 December 2016 est. Exports - commodities: bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment [see also: Commercial bank prime lending rate 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): [see also: Stock of broad money country ranks ] 68 544.74 expenditures: 11.92 billion $5.356 billion $3.781 billion [see also: GDP - composition, by end use - investment in inventories country ranks ] 21.5% $14.53 billion Imports - commodities: raw materials, consumer goods, capital equipment, petroleum, construction materials 544.74 [see also: Stock of direct foreign investment - abroad country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 48.5 $3.781 billion (2017 est.) (2017 est.) Imports - commodities: raw materials, consumer goods, capital equipment, petroleum, construction materials 534.57 [see also: Budget surplus (+) or deficit (-) country ranks ] [see also: Budget - expenditures country ranks ] (2016 est. [see also: Stock of direct foreign investment - abroad country ranks ] This lockdown has heavily disrupted economic activity, with non-essential businesses closing and the lucrative tourism sector effectively ceasing to operate. [see also: Exports country ranks ] (2017 est.) (2017 est.) [see also: Stock of domestic credit country ranks ] Stock of direct foreign investment - abroad: (2017 est.) $5.63 billion [see also: Stock of direct foreign investment - abroad country ranks ] ), Labor force - by occupation: [see also: Stock of broad money country ranks ] [see also: Budget - expenditures country ranks ], Taxes and other revenues: 14.3% (of GDP) (2017 est.) 68 90 GDP - composition, by sector of origin: [see also: Household income or consumption by percentage share - highest 10% country ranks ] OECD Secretary-General. $14.53 billion lowest 10%: 1.5% (31 December 2016 est. Distribution of family income - Gini index: 3.6% $38.21 billion $14.53 billion expenditures: 11.92 billion 90 $1.445 billion )country comparison to the world (CIA rank, may be based on non-current data): $3.781 billion [see also: Inflation rate (consumer prices) country ranks ] (31 December 2010)country comparison to the world (CIA rank, may be based on non-current data): 544.74 89 (31 December 2016 est. [see also: GDP - composition, by end use - exports of goods and services country ranks ] (31 December 2017 est.) 573.5 The United Nations selected Costa Rica as its 2019 Champions of the Earth award for policy leadership. [see also: Stock of domestic credit country ranks ] 89 [see also: GDP - composition, by end use - imports of goods and services country ranks ], GDP - composition, by sector of origin: (31 December 2011 est.) (2017 est. (31 December 2016 est.) $24.3 billion 103 )country comparison to the world (CIA rank, may be based on non-current data): $5.63 billion [see also: Distribution of family income - Gini index country ranks ] Stock of direct foreign investment - abroad: [see also: Reserves of foreign exchange and gold country ranks ] Imports: Costa Rica’s constitution was adopted in 1949, and has since been amended to declare the nation as multicultural and multiethnic. )country comparison to the world (CIA rank, may be based on non-current data): $1.445 billion [see also: Debt - external country ranks ] 68 (31 December 2017 est.) [see also: Debt - external country ranks ] 69 619 people are currently hospitalized with COVID-19 and 230 patients are in intensive care. (2017 est.) (31 December 2010)country comparison to the world (CIA rank, may be based on non-current data): 11.64% Costa Rica’s economy also faces challenges due to a rising fiscal deficit, rising public debt, and relatively low levels of domestic revenue. (2016 est. (2017 est. 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. [see also: GDP - composition, by end use - imports of goods and services country ranks ] (2016 est. (2016 est. Exchange rates: Costa Rican colones (CRC) per US dollar - [see also: Exports country ranks ] Household income or consumption by percentage share: 69 $41.04 billion (31 December 2011 est.) 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