Although the past decade has been a rough ride for Costa Rica, its economy has, in many ways, been a model for developing nations. After Costa Rica’s economy took a serious fall in 1978, the U.S. and International Monetary Fund (IMF) stepped in with a massive aid program that injected $3 billion into the economy between 1981 and 1984, equivalent to more than one-third of the Costa Rican government’s budget and 10 percent of the nation’s GNP for the period (Costa Rica was second only to Israel as the highest per capita recipient of U.S. aid).
Education
- The literacy rate in Costa Rica is 96 percent
- There are four public and several private universities in Costa Rica
- As of 1999, public expenditure on education was estimated at 6.1 percent of the GDP
- Several articles in the Constitution of Costa Rica ensure the integrity of its educational system.
Industry
- In recent times electronics, pharmaceuticals, financial outsourcing, software development and eco tourism have become the prime industries in Costa Rica
- Industry represented 37 percent of GDP in 2000
- The Costa Rican Investment and Development Board, is designed to attract high-quality foreign investment oriented exports.
Economy
- The economy has been expanding for Costa Rica with the Government implementing a seven-year plan of expansion in the high-tech industry
- After four years of slow economic growth, the Costa Rican economy grew at nearly 5 percent in 2006
- GDP (2006): $20.77 billion
- In 2006 the inflation rate in the country was 9.43 percent (est.).
Employment
- Unemployment rate of Costa Rica is 6.6 percent (2006)
- But substantial underemployment continues.
