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Costa Rican Economy

Last Updated: Jan 20, 2012

economy
 - Costa Rica

Costa Rica’s economy is based on tourism, agriculture and electronics exports. Coffee and banana exports dominated the economy in Costa Rica until 1998 when technology exports replaced both agricultural and tourism as the top industry.

GDP $51.17 billion (2010 est.)

GDP real growth rate:
4.2% (2010 est.)

GDP per capita:
$11,300 (2010 est.)

GDP composition by sector:
agriculture: 6.5%
industry: 22.5%
services: 71% (2010 est.)

Investment (gross fixed): 19.7% of GDP (2010 est.)

Household income or consumption by percentage share:
lowest 10%: 1.7%
highest 10%: 39.4% (2009)

Distribution of family income - Gini index: 50.3 (2009)

Inflation rate (consumer prices): 5.7% (2010 est.)

Labor force: 2.052 million
note: this official estimate excludes Nicaraguans living in Costa Rica (2010 est.)

Labor force - by occupation:
agriculture: 14%
industry: 22%
services: 64% (2006 est.)

Unemployment rate: 7.3% (2010 est.)

Budget:
revenues: $5.217 billion
expenditures: $7.083 billion (2010 est.)

Public debt: 42.7% of GDP (2010 est.)

Agriculture - products: bananas, pineapples, coffee, melons, ornamental plants, sugar, corn, rice, beans, potatoes; beef, poultry, dairy; timber

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

Industrial production growth rate: 1.8% (2010 est.)

Electricity production: 9.29 billion kWh (2008 est.)

Electricity consumption: 8.247 billion kWh (2008 est.)

Electricity exports: 166 million kWh (2008 est.)

Electricity imports: 70 million kWh (2008 est.)

Oil production: 263 bbl/day (2010 est.)

Oil consumption: 47,000 bbl/day (2010 est.)

Oil exports: 2,087 bbl/day (2009 est.)

Oil imports: 44,110 bbl/day (2009 est.)

Current account balance: -$1.299 billion (2010 est.)

Exports: $9.375 billion (2010 est.)

Exports commodities: bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment

Exports partners: US 33.6%, China 11.7%, Netherlands 11.7%, UK 11.5% (2010)

Imports: $12.95 billion (2010 est.)

Imports commodities: raw materials, consumer goods, capital equipment, petroleum, construction materials

Imports partners: US 40.1%, Mexico 6.6%, Japan 5.6%, China 5.3% (2010)

Reserves of foreign exchange & gold: $4.627 billion (31 December 2010 est.)

Debt - external: $9.239 billion (30 June 2011 est.)

Currency: Costa Rican colon (CRC)

Currency code: CRC

Exchange rates: Costa Rican colones (CRC) per US dollar - 513 (2010), 573.29 (2009), 530.41 (2008), 519.53 (2007), 511.3 (2006), 477.79 (2005), 437.91 (2004), 398.663 (2003), 359.817 (2002), 328.871 (2001), 308.187 (2000), 285.685 (1999)

Fiscal year: Calendar year
All data gathered from the CIA -World Fact Book, 2011

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