Costa Rica Economic information

Costa Rica is a country located in Central America. The country's economy is based on the service sector, agriculture and exports. Costa Rica's gross domestic product (GDP) was $61.8 billion in 2020. The GDP growth rate was approximately

3.4%. The service sector is the largest sector of the Costa Rican economy. Subsectors such as tourism, finance, trade, telecommunications and technology are important components of the service sector. The country's natural beauties and ecotourism potential enable the growth of the tourism sector. The agricultural sector is an important component of the Costa Rican economy. Products such as coffee, bananas, pineapples, sugarcane, palm oil and flowers are the main products produced in the agricultural sector. The agricultural sector provides a large portion of employment. Costa Rica also has an export-based economy. Export items include products such as medical devices, microchips, electronic products, coffee, bananas and chocolate. The United States is Costa Rica's largest export market. Costa Rica offers various incentive programs and free trade agreements to encourage its investments and trade. The country provides a stable policy and a good workforce to attract foreign investments. Costa Rica's economy is growing steadily, but it also faces some challenges. Issues such as income inequality, high public debts and infrastructure deficiencies can affect the country's economic development.