
Costa Rica
Persistent inflation weighs on growth outlook and fiscal consolidation remains fragile
B3
SENSITIVE RISK
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in November 2022.
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GDP | USD64.3bn (World ranking 81, World Bank 2021) |
Population | 5.1mn (World ranking 121, World Bank 2021) |
Form of state | Presidential, representative democratic republic |
Head of government | Rodrigo Chaves (President) |
Next elections | 2026, presidential and legislative |

- Political stability, long-established democracy and institutional framework compared to regional peers
- Favorable business and legal conditions compared to the rest of Central and Latin America
- Relatively advanced transition to a greener and sustainable economy

- High dependence on US (trade, foreign investment in a few large companies and tourism)
- Large fiscal deficit, with the public debt-to-GDP ratio rising rapidly as a result
Trade structure by destination/origin
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
United States
44.1%
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1 |
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Netherlands
7.2%
![]() |
2 |
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Belgium
5.1%
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3 |
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Guatemala
4.8%
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4 |
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Panama
4.0%
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5 |
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Trade structure by product
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Vegetables and fruits
23.1%
|
1 |
9.1%
Petroleum, petroleum products and related materials
|
Professional and scientific instruments, n.e.s.
22.3%
|
2 |
6.5%
Electrical machinery, apparatus and appliances, n.e.s.
|
Electrical machinery, apparatus and appliances, n.e.s.
7.6%
|
3 |
5.8%
Road vehicles
|
Miscellaneous manufactured articles, n.e.s.
7.4%
|
4 |
5.1%
Iron and steel
|
Miscellaneous edible products and preparations
4.8%
|
5 |
4.6%
Miscellaneous manufactured articles, n.e.s.
|
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