Costa Rica's economy is mainly based on tourism, agriculture and electronic component exports. After the economic depression in 1997, it began to grow rapidly. Costa Rica is located in the narrow strip of Central America and in the center of the Americas. It has direct access to the ocean from Europe and Asia, and can easily enter the American market.
Costa Rica’s rapid economic development has benefited from the government’s seven-year high-tech development plan. Investments in the country are tax-free and the national education situation is very good, making it a paradise for investment. Many multinational high-tech companies have begun to export products. Investment Attraction
Colombia’s economic development level ranks among the best in Central America and is known as the “Switzerland of Central America”. Foreign trade, tourism and service industries occupy an important position in the national economy. The Colombian government actively implements fiscal and tax reforms, opens up telecommunications, insurance and other sectors to the outside world, develops high-tech industries, develops and utilizes renewable and clean energy, and strives to expand exports and attract foreign direct investment. The economic growth rate in 2012 was 4.8%.
Costa Rica actively welcomes foreign investment, has no special restrictions except in certain areas, and provides national treatment. Foreign exchange can be freely converted, and foreign investment capital, interest, dividends, etc. can be freely remitted out. Considering the country's small size and limited market size, the Costa Rican government focuses on attracting foreign investment to export-oriented processing manufacturing or service industries with low pollution and high added value. The bonded zone system (ZONA FRANCA) is Costa Rica's main form of attracting foreign investment. Enterprises in the zone enjoy tax exemptions and other preferential measures to encourage exports and promote industrial upgrading. According to the World Economic Forum's 2013-2014 Global Competitiveness Report, Costa Rica ranks 54th among 148 countries and regions in terms of global competitiveness. In the 2014 "Economic Freedom Index" ranking released by the Heritage Foundation and the Wall Street Journal, Costa Rica ranked 53rd in the world and 9th in Latin America.
Costa Rica's economy is mainly based on tourism, agriculture and electronic component exports. After the economic depression in 1997, it began to grow rapidly. Costa Rica is located in the narrow strip of Central America and in the center of the Americas. It has direct access to the ocean from Europe and Asia, and can easily enter the American market.
Costa Rica’s rapid economic development has benefited from the government’s seven-year high-tech development plan. Investments in the country are tax-free and the national education situation is very good, making it a paradise for investment. Many multinational high-tech companies have begun to export products.
The currency unit is the Costa Rican Colon, which is priced at 500-560 against the U.S. dollar and 600 against the Euro.
Macroeconomics
In 2013, Costa Rica’s domestic GDP was US$49.6 billion, per capita GDP was US$10,528, economic growth rate was 3.5%, inflation rate was 3.68%, and foreign exchange reserves were 7.331 billion US dollars. Dollar. The unemployment rate in 2014 was 10%.
The composition of the national economy in 2013 is as follows:
Agriculture, animal husbandry and fishery accounted for 5.1%, manufacturing accounted for 14.7%, trade, catering and hotel industry accounted for 15.3%, transportation, warehousing and communications industry Accounting for 9.5%, the construction industry accounts for 5.1%, the finance and insurance industry accounts for 6.2%, the real estate industry accounts for 2.8%, the electricity and water power industry accounts for 3.1%, the mining industry accounts for 0.1%, and other service industries account for 33.9%.
As of the end of 2013, Costa Rica’s cumulative public debt reached US$27 billion (13,542.52 billion colones), accounting for 54.6% of the gross national product, of which foreign debt was US$5.98 billion, 60% of which were bonds. 30% are multilateral loans, 15% are short-term debts of less than 5 years, and 85% are medium and long-term debts of more than 6 years; domestic debt is US$21.02 billion (the central government accounts for US$14.2 billion), including 15% US dollar bonds and 85% colon bonds. The proportions of short-term debt and medium- and long-term debt are 59% and 41% respectively.
On April 30, 2013, international rating agencies such as Moody's, S&P and Fitch rated Costa Rica's sovereign debt as Baa3, BB and BB+ respectively.
Basic situation of Costa Rica from 2009 to 2013 2009 2010 2011 2012 2013 Exchange rate (1 US dollar = colon) 573.29525.83505.66502.90499.77 GDP (billion US dollars) 292.5357.9410.06451496.2 GDP growth rate (%) -1.34.2 4.553. 5 GDP per capita (USD) 649473508884966510528 Foreign exchange reserves (USD 100 million) 89.852.547.368.5673.31 Foreign exchange reserve growth rate (%) -1.81712124.8 External debt service rate (%) ----- Fiscal revenue (USD 100 million) 46.554596570.7 Fiscal expenditure (billion U.S. dollars) 57.573768597.4 Fiscal balance deficit (billion U.S. dollars) 1119172026.7 Total exports (billion U.S. dollars) 8895104113115.4 Costa Rican colon
Exchange rate (September 30, 2013): 1 RMB = 82.002 Costa Rica Colon, 1 US dollar = 501.77 Costa Rican colon, 1 Japanese yen = 5.1293 Costa Rican colon. Mainly light industry and manufacturing, including textiles, electronic products, machinery, food, wood, chemicals, etc. Raw materials depend on imports, and products are mainly exported. All oil is imported, mainly from Venezuela. Raw materials and intermediate products rely on imports, and the main exports are precision equipment, integrated circuits, medical equipment, semiconductors, electrical materials, etc.
Important enterprises: National Electric Power and Telecommunications Company (the largest enterprise in China and the United States, with fixed assets of 4.95 trillion colones and nearly 24,000 employees), National Petroleum Corporation, Dos Pinos Dairy Group (China The largest dairy company in the United States, processing 438 million liters of milk annually). It mainly produces traditional products such as coffee, bananas, and sugar cane. Costa Rica is the world's second largest exporter of bananas, after Ecuador. Coffee is the second most important agricultural product in Costa Rica, and Costa Rica is one of the countries with the highest level of agricultural development in Central America. Coffee was introduced to Costa Rica from Cuba in 1729, and as of 2014, its coffee industry is one of the most well-organized industries in the world. Costa Rica's volcanic soil is very fertile and well-drained, and it was the first country in Central America to grow coffee and bananas for commercial value. Coffee and bananas are the country's main exports.
High-quality Costa Rican coffee is called "extra hard beans". This kind of coffee can grow at an altitude of more than 1,500 meters. Due to the high altitude difference, sufficient rainfall causes sufficient rainfall, which is also very beneficial to the growth of coffee trees. . Other coffees include: Juan Venus, Tournon, Waydemir, Montebello and Santa Rosa. Mainly include financial insurance, real estate, corporate services, company management, community services, intermediary services, etc.
According to statistics from the Costa Rica Project Development Agency (Cinde), in 2012, Costa Rica’s corporate service industry exports accounted for 6% of GDP, surpassing traditional industries such as agriculture and tourism for the first time (accounting for 6% of GDP respectively). GDP 5.6% and 5.4%); among the US$2.265 billion in foreign investment attracted by Colombia, the corporate service industry accounted for US$910 million, accounting for 40% of the total foreign investment. Enterprise service companies are mainly concentrated in the bonded zone. Their business includes not only traditional call centers, but also private services, electronic technology, accounting and financial services, design engineering, entertainment industry, etc. In the past 12 years, service companies have created a large number of jobs. In 2000, the number of employees was 1,061, and in 2012 this number reached 42,148. Hydropower and geothermal resources are abundant, but due to reduced rainfall, the proportion of hydropower in total power generation has declined, while the proportion of fuel power generation has shown an upward trend. In 2013, hydropower accounted for 68% of the total power generation in Costa Rica, fuel-fired power accounted for 12%, and geothermal and wind power accounted for 12% and 4% respectively. During the dry season, Costa Rica needs to purchase electricity from neighboring countries to make up for the shortfall. In 2013, it imported 73 GW of electricity.
The national power grid coverage reaches 99.38% and is interconnected with countries such as Guatemala, Honduras, Nicaragua and Panama. The per capita consumption is 1998 kilowatt hours/year, ranking first in the annual power generation and per capita electricity consumption in Central American countries. Residential electricity consumption accounts for 40%; general sectors such as offices and hotels account for 31%; industrial sectors account for 22%.
Annual electricity production: 10.08 billion kilowatt hours, annual electricity consumption: 8.321 billion kilowatt hours, annual electricity export: 22.8 million kilowatt hours, annual electricity import: 34.3 million kilowatt hours, national installed capacity : 2.72 million kilowatts, national power transmission and transformation lines: 1,713.1 kilometers. Costa Rica means "rich ocean" in Spanish. Tourism income is one of Colombia’s main sources of foreign exchange earnings. Since the 1990s, tourism has become Colombia's most dynamic industry. Tourist attractions include Erazú, Poas Volcano and Spanish colonial cultural sites.
Although still an agricultural country, Costa Rica has achieved relatively high standards of living, with a general expansion of land ownership and a booming tourism industry.
Costa Rica’s economy is mainly based on tourism, agriculture and electronic component exports. After the economic depression in 1997, it began to grow rapidly. Costa Rica is located in the narrow strip of Central America and in the center of the Americas. It has direct access to the ocean from Europe and Asia, and can easily enter the American market.
Costa Rica’s rapid economic development has benefited from the government’s seven-year high-tech development plan. Investments in the country are tax-free and the national education situation is very good, making it a paradise for investment. Many multinational high-tech companies have begun to export products. Trade Relations
Colombia implements an open trade policy and has signed free trade agreements with the United States, China, Mexico, Chile, Peru, five Central American countries, the Dominican Republic, Singapore, and the European Union, and has signed free trade agreements with more than 50 countries in the world ( region) have trade relations. Foreign trade plays an important role in the national economy. It mainly exports electronic chips, integrated circuits, textiles, bananas, pineapples, coffee, medical equipment, processed food, machinery and electronic accessories, etc. The main export destinations are the United States, China, the European Union and Central American neighboring countries; it mainly imports raw materials, consumer goods, For fuels, lubricants and capital goods, the main import sources are the United States, the European Union, Venezuela and Mexico. In 2012, Colombia's exports were US$11.298 billion and imports were US$13.030 billion, a year-on-year increase of 8.9% and -19.6% respectively.
Absorbing foreign investment
Since the 1990s, foreign direct investment flowing into Costa Rica has grown steadily, mainly in the service industry (40%), manufacturing (26%), real estate (19%) and business (7%). There are more than 250 multinational companies in quarantine in Dalijia. In 1997, Intel Corporation of the United States invested in setting up a computer chip and server assembly plant in Costa Rica, making it the largest foreign-funded enterprise with a cumulative investment of more than US$900 million so far. In April 2014, Intel announced that it would adjust its business in Costa Rica, lay off 1,500 people, and move its manufacturing and assembly operations to Asia.
According to the 2014 World Investment Report released by the United Nations Conference on Trade and Development, in 2013, Costa Rica absorbed US$2.65 billion in foreign investment flows; by the end of 2013, Costa Rica's foreign investment stock was US$21.79 billion. Total consumption
According to data from the Central Bank of Costa Rica, the total retail sales of consumer goods in 2013 was US$40.837 billion; the total national sales of means of production was US$45.3 billion.
Living Expenditure
According to data from the National Bureau of Statistics of Costa Rica, the savings rate of Costa Rica residents in 2013 was 2.6%, and the per capita expenditure of residents was approximately US$730 per month. Daily consumption expenditure accounts for 70% of the total consumption expenditure, of which food expenditure accounts for an average of 43%.
Price level
In 2013, the average monthly salary of Costa Rican workers was approximately US$600.
Calculated in terms of living area, the per capita housing area is 26 square meters. The housing price per square meter in the more prosperous areas of the capital city of San Jose (such as Merced, Uruca, and San Pedro) is approximately US$1,360.