The 2023 GDP growth looks to stay on track with 2022 with a projected 4.2 percent growth rate. Current domestic issues include Costa Rica''s persistent fiscal deficit, stifling internal bureaucracy, the high cost of energy, the state of basic infrastructure, and the impact of inflationary issues throughout the globe.
Gross domestic product amounted to about 61.8 billion U.S. dollars in 2020 - the same year, Costa Rica experienced a strong negative economic growth of more than four percent amidst the crisis
Costa Rica has in many ways been a development success story. An OECD member country since 2021, it offers a unique trajectory underpinned by a long tradition of democratic stability and institutionality while earning a reputation for being at the forefront of green development outcomes, being the first tropical country in the world to have
Market research on consumer products, commercial industries, demographics trends and consumer lifestyles in Costa Rica. Includes comprehensive data and analysis, tables and charts, with five-year forecasts.
Current domestic issues include Costa Rica''s persistent fiscal deficit, stifling internal bureaucracy, the high cost of energy, the state of basic infrastructure, and the impact of inflationary issues throughout the globe. Over the next several years, plans are in place for major upgrades involving rail, ports, airports, highways, and water systems.
Costa Rica ratified the U.S.-Central American Free Trade Agreement (CAFTA-DR) in 2009. This free trade agreement eliminated most of the tariffs for non-agricultural imports and has made trade and investment in the region more attractive to U.S. companies. The remaining tariffs on virtually all U.S. agricultural products will be eliminated by 2023. CAFTA-DR member countries have further promised increased transparency in customs dealings, anti-corruption measures in government contracting and procurement, and strong legal protections for U.S. investors.
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