Costa Rica

Economy of Costa Rica
-Costa Rica has suffered a strong development in its economy, from being a predominantly agricultural country to a service economy.

-Continue to be important export revenues of Costa Rica who come from traditional agricultural products, such as bananas, coffee, sugar, cocoa and pineapple. Emphasizes the production of high quality Costa Rican coffee and export to the U.S. market where it is very much appreciated.

-However revenues from the export of non-traditional--such as flowers and vegetable mini - products have passed largely to the former and the services sector has grown strongly in recent years, creating more than 10,000 jobs.

-Tourism is a growing industry and since the beginning of the 2000s generates more currency than any of the main agricultural products of export.

-Taking advantage of its peaceful atmosphere, the high educational level of its inhabitants and appropriate policies of attraction of companies, in the country began in the mid-1990s production of materials and technological products and micro technology.
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-In this way, since 1997 and with the entrance of the factory of Intel microprocessors, the country had an additional source of income. Costa Rica is the country preferred by many multinationals to locate their central services within the region, including Procter & Gamble, Coca-Cola, Intel, Hewlett-Packard, Sykes, Sony, DHL, Amazon, Bank of America, Western Union, Baxter, IBM, Oracle, Walmart and Dole Food Company.

-In 2006 the plant of Intel's microprocessors was responsible for 20% of the total exports and produced a 4.9% of the GDP of the country [141].

-The country's economy grew 8.8 percent in 2006, a 6.8% in 2007 and a low 3% in 2008. In the first half of 2009 year over year GDP shrank 3.5%. The country has the sixth rate of higher inflation in the hemisphere.

-Poverty is estimated at 21% (16% in relative poverty and 5% in extreme poverty). The immigration of Nicaraguans (between 300,000 and 500,000 according to The World Factbook) has added to the deterioration of the Costa Rican system of social health.

-Costa Rica currently has approximately 8,000 hectares devoted to the production of crops without chemicals and over 3,000 producers responsible for providing duly certified products, both in the national and international market.

-The main areas of planting of organic products are in Talamanca, Zarcero, Zona Norte, Turrialba, Cartago, among others, for countries in Europe, United States, Canada, Australia and Japan.

-According to PROCOMER data, in 2009 they exported more than 36 thousand tons of properly certified products, with a value greater than the $26 million.

-One in seven Costa Rican works in the agricultural sector. Exports of agricultural products make up 8% of the GDP of the country.

-Approximately a 5.9 per cent of the territory is composed of permanent crops and other 4.4% consists of farmland.The fruits and bananas are the main agricultural export product and are cultivated both in the great Central Valley and in the northern zone, and on the shores of the Pacific and the Caribbean.

-Costa Rica is the seventh largest producer of bananas worldwide.

-Coffee, one of higher value crops, is mainly grown in the Central Valley. Historically, is known as the Golden grain, since it was the engine of the economy in the Liberal era (19th century). In 2007 110,400 metric tons of coffee were produced. Other major crops are sugar cane, pineapples and cocoa.
Clockwise: Coffee is called in Costa Rica the "Grano de Oro" -the golden grane- in which it is produced about 110.400 tons in 2007. The variety of fruits and vegetables for export has allowed to open up European and US markets. The DOLE exported thousands of tons of bananas a year from Costa Rica.
Costa Rica keeps its leadership as a Central American trade power and Natural destination worldwide.
Upper left: Export agriculture products.
Above right: INTEL has opened many sources of employment in the country.
Bottom left: Companies such as SYKES allow employment for Costa Ricans.
Bottom right: The ecotourism industry has become an important source of revenue for the country.
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