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