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, oil palm fruit, milk, fruits, oranges, chicken, cassava, beef (2023).
More about the economy of Costa Rica
| Labor force | 2.357 million (2024 est.) |
|---|---|
| Industrial production growth rate | 4.1% (2024 est.) |
| Industries | medical equipment, food processing, textiles and clothing, construction materials, fertilizer, plastic products |
| Population below poverty line | 24.4% (2023 est.) |
| Taxes and other revenues | 13.9% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Costa Rican colones (CRC) per US dollar - |
| Exchange rates 2024 | 515.11 (2024 est.) |
| Exchange rates 2023 | 544.051 (2023 est.) |
| Exchange rates 2022 | 647.136 (2022 est.) |
| Exchange rates 2021 | 620.785 (2021 est.) |
| Exchange rates 2020 | 584.901 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $15.574 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $14.177 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $13.225 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $8.554 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$1.291 billion (2024 est.) |
| Current account balance 2023 | -$1.239 billion (2023 est.) |
| Current account balance 2022 | -$2.272 billion (2022 est.) |
| Public debt | |
| Public debt 2017 | 48.9% of GDP (2017 est.) |
| Budget | |
| Revenues | $26.333 billion (2023 est.) |
| Expenditures | $25.953 billion (2023 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 0.8% of GDP (2024 est.) |
| Remittances 2023 | 0.8% of GDP (2023 est.) |
| Remittances 2022 | 0.9% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 1.7% (2024 est.) |
| Highest 10% | 34.2% (2024 est.) |
| Average household expenditures | |
| On food | 21.3% of household expenditures (2023 est.) |
| On alcohol and tobacco | 1.7% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $30.459 billion (2024 est.) |
| Imports 2023 | $28.413 billion (2023 est.) |
| Imports 2022 | $27.095 billion (2022 est.) |
| Imports (partners) | USA 38%, China 15%, Mexico 6%, Brazil 3%, Guatemala 3% (2023) |
| Comodities Imports force | refined petroleum, plastic products, cars, medical instruments, broadcasting equipment (2023) |
| Exports | |
| Imports 2024 | $30.459 billion (2024 est.) |
| Imports 2023 | $28.413 billion (2023 est.) |
| Imports 2022 | $27.095 billion (2022 est.) |
| Exports (partners) | USA 40%, Netherlands 6%, China 5%, Guatemala 4%, Belgium 3% (2023) |
| Comodities Exports force | medical instruments, integrated circuits, orthopedic appliances, bananas, tropical fruits (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $138.371 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $132.64 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $126.189 billion (2022 est.) |
| GDP (official exchange rate) | $95.35 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $27,000 (2024 est.) |
| Real GDP per capita 2023 | $26,000 (2023 est.) |
| Real GDP per capita 2022 | $24,800 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 3.6% (2024 est.) |
| Industry | 19.7% (2024 est.) |
| Services | 68.8% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 63.9% (2024 est.) |
| Government consumption | 14.7% (2024 est.) |
| Investment in fixed capital | 15.8% (2024 est.) |
| Investment in inventories | -0.1% (2024 est.) |
| Exports of goods and services | 38.5% (2024 est.) |
| Imports of goods and services | -32.8% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 7.9% (2024 est.) |
| Unemployment rate 2023 | 8.4% (2023 est.) |
| Unemployment rate 2022 | 11.4% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 23% (2024 est.) |
| Male | 20.7% (2024 est.) |
| Female | 26.2% (2024 est.) |
All Important Facts about Costa Rica
Want to know more about Costa Rica? Check all different factbooks for Costa Rica below.
-
Costa Rica Factbook
-
The Economy of Costa Rica
-
Learn about the Government of Costa Rica
-
Communication in Costa Rica
-
Popular Universities in Costa Rica
-
Enerny in Costa Rica
-
Transport in Costa Rica
-
The Geography and society of Costa Rica
-
The Environment of Costa Rica
-
Military and security in Costa Rica