Costa Rica


Costa Rica Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Costa Rica; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Central Bank of Costa Rica
International Reserves US$ 4.758 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 44.313 billion (2010 estimate)
GDP (Purchasing Power Parity) 57.955 billion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
1.1% 2.9% 6.4% 4.3% 5.9% 8.8% 7.9% 2.7%
2009 2010 2011 2012*
-1% 4.7% 4.2% 4%

*Estimate

GDP per capita - current prices US$ 9,500 (2010 estimate)
GDP per capita - PPP $12,425 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.06% 0.06% 0.07% 0.07% 0.07%

**Forecast

GDP - composition by sector
  • agriculture: 6.4% 
  • industry: 22.1% 
  • services: 71.5% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
7.8%(2008) 5.7% 4.9% 5.4%

*Estimate

Unemployment rate
2009 2010 2011 2012*
8.4% 7.3% 8.3%(2009) 7.5%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
24.8% 27.2% 29.2% 30.8% 32.4%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-0.3% -3.6% -5.4% -4.3% -4.3%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB

Moody's rating: Baa3

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$1.452 billion US$1.445 billion US$1.443 billion
Largest companies in Costa Rica N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -2.5 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP -5.5% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

38.1% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.06%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.12% (2011)(2007)

(Data were released in 2012)

Total exports US$11.47 billion (2012 estimate) 
Export commodities bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment
Total imports US$16.79 billion (2012 estimate) 
Import commodities raw materials, consumer goods, capital equipment, petroleum, construction materials
Exports - major partners US 33.9%, China 12.6%, Netherlands 12.1%, UK 10.7% (2011)
Imports - major partners US 43.3%, Mexico 6.4%, China 6.2%, Japan 6% (2011)
FDI inflows
2009 2010 2011
US$1,347 million US$1,466 million(2009) US$2,104 million(2009)
FDI outflows
2009 2010 2011
US$7 million US$25 million US$56 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
N/A N/A(2009) N/A(2009) N/A
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 110 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 128 out of 185 countries(2009)

Enforcing Contracts: 128 out of 185 countries

Registering Property: 46 out of 185 countries

Getting credit: 83 out of 185 countries

Protecting investors: 169 out of 185 countries

Trading across border: 51 out of 185 countries

Paying Taxes: 125 out of 185 countries

Dealing with Construction Permits: 128 out of 185 countries

Getting Electricity: 45 out of 185 countries

Resolving Insolvency: 128 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
57

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 44 Score: 68.0 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC-6
Total area 51,100 km2 (2006)
Capital San Jose (2009)
Currency Costa Rican colones (CRC) (2009)
Government type democratic republic (2009)
Languages Spanish (official), English
Religions Roman Catholic 76.3%, Evangelical 13.7%, Jehovah's Witnesses 1.3%, other Protestant 0.7%, other 4.8%, none 3.2%
Total population
1980 1990 2000 2012* 2017**
N/A N/A 3.81 million 4.67 million 4.93 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
34.3% 43.1% 59% 64.6%
Population median age 28 years (2010)
Population growth rate 1.4% (2011)
Life expectancy 79 years (2010)
Adult literacy 96% (2005/2010)
% of population living on less than $2 a day 5.42% (2011)
Inequality of wealth distribution (Gini index)

50.73 (2009)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

123.74% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 42.12% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

San José: 165th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

1.8117 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2012)
2011:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Scotiabank Costa Rica (National, 2012)
2011:
  • COUNTRY WINNERS Scotiabank Costa Rica (National, 2011)
2010:
  • COUNTRY WINNERS Scotiabank Costa Rica (National, 2010)
2009:
  • COUNTRY WINNERS Scotiabank Costa Rica (National, 2009)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Citi (National, 2013)
2012:
  • COUNTRY WINNERS Citi (Global, 2012)
2011:
  • COUNTRY WINNERS Citi (2011)
  • COUNTRY WINNERS Scotiabank Costa Rica (National, 2011)
2010:
  • COUNTRY WINNERS Scotiabank Costa Rica (National, 2010)
2009:
  • COUNTRY WINNERS Scotiabank Costa Rica (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE