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Economy
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Costa Rica’s economy has become a stable economy for the last couple of years now. Until 2015, Costa Rica relied mostly on agriculture, but now they rely on electronics, tourism, medical equipment exports, IT services, and medical manufacturing, in addition to agriculture. With a Gross Domestic Product (GDP) of 134.238 billion and a GDP per capita of 16,942.03 since 2023, which are still increasing, Costa Rica has a very high unemployment rate of 11.49%. Costa Rica’s GDP per capita is almost 8 times bigger than Nicaragua’s and almost 2,000 dollars less than Panama, both bordering countries. Although the country has 2.372 million people working in services, industries, or agriculture, a portion of the population still lives in poverty. Agriculture makes up 5.5% of the population with a 12.9% employment rate alongside industry, which has an 18.57% employment rate and makes up 18.6% of the population. And services make up 75.9% of the population and have an employment rate of 69.02%. Costa Rica has many imports, three being petroleum, passenger vehicles, and medical instruments, as well as many exports, with three being medical equipment, tropical fruits, and orthopedic appliances. Although many companies weren’t started in Costa Rica, there are still many multi-national companies that have offices in Costa Rica. Some of the big companies include Microsoft, Snowflake, IBM, Intel, and HP. Overall, Costa Rica’s economy has been improving over the years with a few concerns along the way that they are making an effort to fix.
Citations
“Costa Rica Archives.” FocusEconomics, 31 Jan. 2025, www.focus-economics.com/countries/costa-rica/. Accessed 24 Feb. 2025.
“Costa Rica GDP and Economic Data.” Global Finance Magazine, 23 May 2024, gfmag.com/country/costa-rica-gdp-country-report/. Accessed 23 Feb. 2025.
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