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 Costa Rica Imports and Exports

Costa Rica has made a name for itself by being a Central American success story. There have only been two instances of political upheaval and violence that has somewhat marred the country's democratic progress.

Costa Rica still remains a country that has its economy based primarily on agriculture but now it has expanded to include both the tourism and technology as well. The standard of living is quite high and landownership is also extensive.

The Economy of Costa Rica

The economy of Costa Rica is quite a stable one based on electronics exports, tourism and agriculture. There has been a sufficient reduction in the rate of poverty in the last fifteen years and strong safety measures have been enforced. Foreign investors have been attracted by this stability and high literacy levels and this has resulted in the increase of tourists and the country receiving more foreign exchange.

The prices of bananas and coffee have decreased and this has considerably hurt the agriculture of the country. In spite if this the country has to deal with both internal and external deficits and debts. There has also been a decrease in the inflation rates and the reason for this has been the rigidities in the labor market, rise in the import prices and deficiencies in the budget.

The Costa Rican economy has emerged from its period of recession in the year 1997 and from then on it has shown a steady aggregate growth. There has been a substantial growth in the GDP of 8.3% in 1999. This was primarily because of the rise in exports and the boom in the tourism sector.

The most challenging task for the Costa Rican economy so far has been the ways employed for controlling the deficit in the budget.

Exporting Goods from Costa Rica

Costa Rica exports 3,500 varieties of commodities to 120 countries all over the world. Bananas and coffee are the main things that are exported though cocoa, lumber, sugar, beef and wood products are also important commodities that help the country to earn revenue.

The new products that are being exported are the electronic micro components, medicinal herbs and leaves, rubber packaging, many types of decorative plants, flowers, dresses, tyres, fish, fibers, and glass. Exports in Costa Rica have been much contributed by the fact of its freeness.

The distribution of exports is lubricants and fuels amount to 0.7%, consumer goods to 48.3%, building materials to 2.9%, raw materials to 37.4% and the others 6.8%.

The products of Costa Rica are sent to various parts of the world and also to the different states of the US as well. The United States receive about 44.1%, Asia 9.8%, European Union 17%, Caribbean 3%, South America 2.1%, Mexico 2.8% and Central America 14.2%

With Germany Costa Rica has a net export surplus with an amount of $188.2 million. It has been Costa Rica's tenth largest trade partner and it exports amplifiers, bananas and coffee to Germany.
 

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