| Costa Rica lies between Panama and Nicaragua and it | | | | Rica is also a producer of cocoa, sugar, lumber, wood |
| is bordered by the Caribbean Sea to the east and | | | | products and beef. In recent years, ecotourism, |
| the North Pacific Ocean to the west. It is comprised | | | | pharmaceuticals, financial outsourcing and software |
| of 51,100 square kilometers and the territorial waters | | | | development have become major industries with |
| take up about 589 square kilometers. It is considered | | | | significant contribution to the countrys GDP. |
| a conglomeration of a number of landforms. The | | | | Lately, other industries like electronics, |
| location of the country in the isthmus of Central | | | | pharmaceuticals, eco-tourism, financial outsourcing and |
| America makes it easier to access American | | | | software development are now becoming major |
| markets, which have the same time zone as Central | | | | industries. There are a number of high tech |
| US and also has access to Europe and Asia via the | | | | companies which have sprung up in the area, including |
| Oceans. | | | | chip manufacturer Intel and Pharma companies like |
| Let's talk a little bit about the economical situation of | | | | Procter & Gamble and Glaxo Smith Kline. Costa Rica |
| this fascinating country. | | | | is also self reliant in energy needs, with exception of |
| Costa Rica has suffered a lot from corrupted | | | | oils- and has the potential to be an electricity |
| governments. Interest costs on the governments | | | | exporter, as it already exports to Central America. |
| accumulated debt are equivalent to 30% of the | | | | The unit of currency of Costa Rica is the Colon |
| governments total revenue. Liberalization efforts | | | | (CRC). This currency trades at 500 to the US dollar |
| have been hampered due to the resistance put | | | | and at around 600 to the Euro. A new system that is |
| forward by the political parties of Costa Rica. The | | | | expected around 2007, will see the Colon currency |
| main agendas of the today's government are still the | | | | float between two bands. The Central bank will be |
| curbing the rate of inflation, reducing the deficit, and | | | | better positioned to handle inflation and dicourage the |
| making improvisations to the services offered by the | | | | use of the US greenback with the use of this |
| public sector. Despite this, the government has tried | | | | system. |
| to bring in foreign investment, technology and | | | | In March 1998, the country joined other Central |
| management into the telecommunications and | | | | American nations, and the Dominican Republic to |
| electrical power sector, which are run by the state. | | | | establish a Trade and Investment Council with the |
| Although blessed with fertile lands, abudance of fresh | | | | United States. It has also clearly showed a willingness |
| water and a strategic position, the country still | | | | to join the North American Free Trade Agreement |
| remains poor and is categorized as a third world | | | | (NAFTA). Costa Rica is also a member of the Cairns |
| country. The countrys economy emerged from the | | | | Group, which is pursuing a policy of global agricultural |
| red in 1997, but has shown strong aggregate growth | | | | trade liberalization in World Trade. |
| since then. | | | | With the help of agriculture, growing industries and of |
| The economy is based on agriculture. This includes | | | | course tourism and ecotourism, Costa Rica economy |
| the production and export of pineapples, bananas and | | | | is sure to recover. This country has a great potential. |
| coffee. The countrys exports from the free trade | | | | It in the hands of the people and the government, |
| zones and tourism sectors led to significant | | | | with hard work and strategically planned moves, to |
| developments in the growth rate of the GDP. Costa | | | | make this beautifull country wealthy as well. |