Costa Rica and its Economy

It seems unbelievable that this small country in Central America is among the 11 strongest economies in Central and South America. Costa Rica's economy is the 11th largest in Latin America after Brazil, Mexico, Argentina, Colombia, Venezuela, Chile, Peru, Dominican Republic, Guatemala and Ecuador.

The major source of income for this small country is tourism. Costa Rica is very careful to have an excellent image abroad.

That line of thinking just makes sense. Since 1999, tourism generates more income for the country that the export of traditional crops of banana, pineapple and coffee together.

The tourism boom began in 1987, with visitor numbers increasing from 329 000 in 1988, reaching one million in 1999, reaching a record high of 2.196 million foreign tourists in 2011.

Recent reported that exports from Costa Rica during the first four months totaled 3,870 million dollars, which represented an increase of 12.9 percent over the same period in 2011.

Economy

GDP (2011 est., official exchange rate): $40.02 billion.
GDP (2011 est., purchasing power parity): $54.52 billion.
Real growth rate (2011 est.): 4.0%.
Per capita income (2011 est., PPP): $11,562.
Inflation rate (2011 est.): 5.3%.
Unemployment (2011 est.): 6.5%.
Currency: Costa Rica Colon (CRC).
Natural resources: Hydroelectric power, forest products, fisheries products.
Agriculture (6.9% of GDP, 2010 est.): Products--bananas, pineapples, coffee, beef, sugar, rice, dairy products, vegetables, fruits, ornamental plants, corn, beans, potatoes, timber.
Industry (26.1% of GDP, 2010 est.): Types--electronic components, medical equipment, textiles and apparel, tires, food processing, construction materials, fertilizer, plastic products.
Commerce, tourism, and services (67% of GDP, 2010 est.): Hotels, restaurants, tourist services, banks, and insurance.
Trade (2010 est.): Exports--$9.385 billion: integrated circuits, medical equipment, bananas, pineapples, coffee, melons, ornamental plants, sugar, textiles, electronic components. Major markets (2010)--U.S. 37.4%, European Union (27) 17.9%, China (including Hong Kong) 4.8%, Panama 4.8%, Nicaragua 4.2%. Imports--$13.57 billion: raw materials, consumer goods, capital equipment, petroleum. Major suppliers (2010)--U.S. 46.8%, European Union (27) 7.9%, China 7.1%, Mexico 6.4%, Japan 3.6%.

http://www.state.gov/r/pa/ei/bgn/2019.htm

http://www.therealcostarica.com/costa_rica/economy_of_costa_rica.html