Costa Rica - Economy
How is the economy of Costa Rica? Based on the information we have, Costa Rica has a trade-based upper middle-income economy; green economy leader, having reversed deforestation; investing in blue economy infrastructure; declining poverty until hard impacts of COVID-19; lingering inequality and growing government debts have prompted a liquidity crisis. Key agricultural products in this country include: sugarcane, pineapples, bananas, milk, oil palm fruit, fruits, oranges, chicken, cassava, rice (2022).
More about the economy of Costa Rica
| Labor force | 2.543 million (2022 est.) |
|---|---|
| Industrial production growth rate | 2.05% (2022 est.) |
| Industries | medical equipment, food processing, textiles and clothing, construction materials, fertilizer, plastic products |
| Population below poverty line | 25.5% (2022 est.) |
| Taxes and other revenues | 14% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Costa Rican colones (CRC) per US dollar - |
| Exchange rates 2022 | 647.136 (2022 est.) |
| Exchange rates 2021 | 620.785 (2021 est.) |
| Exchange rates 2020 | 584.901 (2020 est.) |
| Exchange rates 2019 | 587.295 (2019 est.) |
| Exchange rates 2018 | 576.973 (2018 est.) |
| Debt - external | |
| Debt - external 2019 | $29.589 billion (2019 est.) |
| Debt - external 2018 | $28.553 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2022 | $8.554 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $6.921 billion (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $7.232 billion (2020 est.) |
| Current account balance | |
| Current account balance 2022 | -$2.469 billion (2022 est.) |
| Current account balance 2021 | -$1.605 billion (2021 est.) |
| Current account balance 2020 | -$631.662 million (2020 est.) |
| Public debt | |
| Public debt 2017 | 48.9% of GDP (2017 est.) |
| Public debt 2016 | 44.9% of GDP (2016 est.) |
| Budget | |
| Revenues | $9.664 billion (2019 est.) |
| Expenditures | $14.001 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | -6.1% (of GDP) (2017 est.) |
| Remittances | |
| Remittances 2022 | 0.9% of GDP (2022 est.) |
| Remittances 2021 | 0.91% of GDP (2021 est.) |
| Remittances 2020 | 0.84% of GDP (2020 est.) |
| Household income | |
| Lowest 10% | 1.7% |
| Highest 10% | 35.7% (2022 est.) |
| Average household expenditures | |
| On food | 31.6% of household expenditures (2021 est.) |
| On alcohol and tobacco | 0.7% of household expenditures (2021 est.) |
| Imports | |
| Imports 2022 | $26.602 billion (2022 est.) |
| Imports 2021 | $21.94 billion (2021 est.) |
| Imports 2020 | $17.519 billion (2020 est.) |
| Imports (partners) | US 39%, China 14%, Mexico 5%, Guatemala 3%, Brazil 3% (2022) |
| Comodities Imports force | refined petroleum, plastic products, medical instruments, cars, broadcasting equipment (2022) |
| Exports | |
| Imports 2022 | $26.602 billion (2022 est.) |
| Imports 2021 | $21.94 billion (2021 est.) |
| Imports 2020 | $17.519 billion (2020 est.) |
| Exports (partners) | US 40%, Netherlands 7%, Guatemala 5%, Belgium 5%, Nicaragua 3% (2022) |
| Comodities Exports force | medical instruments, orthopedic appliances, bananas, tropical fruits, other foods (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2022 | $114.346 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $109.368 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $101.327 billion (2020 est.) |
| GDP (official exchange rate) | $69.244 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $22,100 (2022 est.) |
| Real GDP per capita 2021 | $21,200 (2021 est.) |
| Real GDP per capita 2020 | $19,800 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 5.5% (2017 est.) |
| Industry | 20.6% (2017 est.) |
| Services | 73.9% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 64.2% (2017 est.) |
| Government consumption | 17.3% (2017 est.) |
| Investment in fixed capital | 17.1% (2017 est.) |
| Investment in inventories | 1% (2017 est.) |
| Exports of goods and services | 33.3% (2017 est.) |
| Imports of goods and services | -32.9% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 11.32% (2022 est.) |
| Unemployment rate 2021 | 15.14% (2021 est.) |
| Unemployment rate 2020 | 16.43% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 45.4% (2021 est.) |
| Male | 37% |
| Female | 56.3% |
All Important Facts about Costa Rica
Want to know more about Costa Rica? Check all different factbooks for Costa Rica below.
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Costa Rica Factbook
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The Economy of Costa Rica
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Learn about the Government of Costa Rica
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Communication in Costa Rica
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Popular Universities in Costa Rica
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Enerny in Costa Rica
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Transport in Costa Rica
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The Geography and society of Costa Rica
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The Environment of Costa Rica
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Military and security in Costa Rica