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 2.408 million (2023 est.)
Industrial production growth rate 8.35% (2023 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 14.35% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency Costa Rican colones (CRC) per US dollar -
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.)
Exchange rates 2019 587.295 (2019 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 2023 $13.225 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $8.554 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $6.921 billion (2021 est.)
Current account balance
Current account balance 2023 -$844.64 million (2023 est.)
Current account balance 2022 -$2.235 billion (2022 est.)
Current account balance 2021 -$2.061 billion (2021 est.)
Public debt
Public debt 2022 71.11% of GDP (2022 est.)
Budget
Revenues $9.664 billion (2019 est.)
Expenditures $14.001 billion (2019 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.73% of GDP (2023 est.)
Remittances 2022 0.9% of GDP (2022 est.)
Remittances 2021 0.91% of GDP (2021 est.)
Household income
Lowest 10% 1.7% (2022 est.)
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 2023 $28.441 billion (2023 est.)
Imports 2022 $27.07 billion (2022 est.)
Imports 2021 $21.94 billion (2021 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 2023 $28.441 billion (2023 est.)
Imports 2022 $27.07 billion (2022 est.)
Imports 2021 $21.94 billion (2021 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) 2023 $134.238 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $127.71 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $122.15 billion (2021 est.)
GDP (official exchange rate) $86.498 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $25,800 (2023 est.)
Real GDP per capita 2022 $24,700 (2022 est.)
Real GDP per capita 2021 $23,700 (2021 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 2023 8.3% (2023 est.)
Unemployment rate 2022 11.33% (2022 est.)
Unemployment rate 2021 15.14% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 24.1% (2023 est.)
Male 21% (2023 est.)
Female 28.3% (2023 est.)
All Important Facts about Costa Rica

Want to know more about Costa Rica? Check all different factbooks for Costa Rica below.

Costa Rica is found in Central America