What Is the Economy Like in Costa Rica?

Costa Rica

Costa Rica's economy is based upon a combination of agriculture (7% - bananas, coffee, pineapples, and ornamental plants), industry (25% - microprocessors and medical equipment), and tourism/services (68% - hotels, restaurants, and banks).

Of the $8.1 billion in exports, microchips and medical equipment have finally outpaced agriculture, a recent shift away from historic trends. Costa Rica experienced steady growth during the past several years, but in 2009, the economy shrank by 2.5%, largely on account of the global economic recession. The services sector was particularly affected, as tourism fell by 8% the same year.

Costa Rica's major economic resources are its fertile land, well-educated population, and location on the Central American isthmus, which provides easy access to both North and South American markets and direct ocean access to the European and Asian continents.