Economy of Costa Rica

Common card · No. 294451

The economy of Costa Rica has been very stable for some years now, with continuing growth in the GDP (Gross Domestic Product) and moderate inflation, though with a high unemployment rate: 11.49% in 2019. Costa Rica's economy emerged from recession in 1997 and has shown strong aggregate growth since then. The estimated GDP for 2026 is US$125 billion, up significantly from the US$52.6 billion in 2015 while the estimated 2026 per capita (purchasing power parity) is Int$33,897. Inflation remained around 4% to 5% per annum for several years up to 2015 but then dropped to 0.7% in 2016; it was expected to rise to a still moderate 2.8% by the end of 2017 In 2017, Costa Rica had the highest standards of living in Central America in spite of the high poverty level. The poverty level dropped by 1.2% in 2017 to 20.5%, thanks to reducing inflation and benefits offered by the government. The estimated unemployment level in 2017 was 8.1%, roughly the same as in 2016. The country has evolved from an economy...

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