Concept

Economy of Costa Rica

Summary
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 2023 is US78billion,upsignificantlyfromtheUS78 billion, up significantly from the US52.6 billion in 2015 while the estimated 2023 per capita (purchasing power parity) is US$26,422. 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
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