Economy


 Economy: About Costa Rica Economy

 

~Costa Rica holds as a main foreign policy objective is to foster human rights and sustainable development as a way to secure stability and growth.

 

Products and Industry:

~In recent times electronics, pharmaceuticals, financial outsourcing, software development, and ecotourism have become the prime industries in Costa Rica's economy.

~The largest coffee growing areas are in the provinces of San José, Alajuela, Heredia, Puntarenas, and Cartago. Costa Rica is famous for its gourmet coffee bean

~Since 1999, tourism earns more foreign exchange than the combined exports of the country's three main cash crops: bananas, pineapples and coffee.

A sticker seen on an espresso machine in the coffee growing regions of Costa Rica.
Women sorting 
bananas and cutting them from bunches. 

 

Trade:

~Two-way trade between the U.S. and Costa Rica exceeded $8 billion in 2007.

~Exports have become more diversified in the past 10 years due to the growth of the high-tech  manufacturing sector, which is dominated by the microprocessor industry and the production of medical devices.

Currency:

~ The money is called "colon".

~If you have more than one dollar it is called "colones". 

~Dollars are also used there.

1 colon, 1917 5 colones, 191x 10 colones, 191x 20 colones, 191x
 

Facts:  

~Costa Rica's basically stable economy depends on tourism, agriculture, and electronics exports.

 

~Costa Rica ranked 42nd in the world and first among Latin American countries. 

~Costa Rica is known as the Latin American pioneer in the implementation of a modern welfare state.

~Economic growth slipped from 4.3% in 1994 to 2.5% in 1995 and to 0.9% in 1996 and then rebounded in 1997 to 3%.

Links:  

 

Wikimedia Foundation, Inc. The free encyclopedia that anyone can edit. Costa Rica Wikipedia. http://en.wikipedia.org/wiki/Costa_Rica. March 2009.

 

Central Intelligence Agency's Office of Public Affairs. CIA World Factbook -  https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html. March 5, 2009