Trading in Costa Rica
Costa Rica is still strongly focused on agriculture
New sectors of the economy are dominant now
The most important sector is tourism. In 2008, with nearly 1.5 million foreign visitors, were generated up to $ 1.8 billion in sales, which goes quite directly to the public good.
The contribution of agriculture to gross domestic product in 2005, was only of 7.9%.
Well known is the planting of bananas, which is now preserved in extensive plantations on the Caribbean coast, to the port of Puerto Limón. Recently, we also found on the Pacific coast, near the port city of Golfito, some plantations. Despite the decline, Costa Rica is the second largest banana exporter in the world. Another agricultural export product is coffee, which grows primarily in the Central Valley. Other agricultural products that are exported are: pineapple, papaya, melons, nuts, sugar, and flowers.
Tourism in Costa Rica is becoming even more important, despite the global economic crisis. In Costa Rica, a sustainable tourism promotion, and environmental protection have the priority in many projects . According to a study based on data from the World Bank, Costa Rica is now on the 4th place from the biggest high-tech exporters worldwide. The Costa Rican government expects an increase in foreign direct investment, from around $ 2 billion, in 2012.
In 2010, Costa Rica had 46% of its exports made by the high-tech products (2,780 million U.S. Dollars). A worked out strategy, made for exportation 20 years ago, guarantees and ensures succes today. Costa Rica shows the even more innovative, and forward-looking orientation of the country.
According to a study of today, 80% of companies more than in 2000, operate in the manufacturing sector. One of the best known companies is the chip maker "Intel".
Costa Rica is not an oil-producing country, like others in the South and Central American hemisphere. Ninety-eight percent of electricity generation comes from water, wind, and geothermal.
Tourism in Costa Rica is one of the reasons why the government was quick at installing renewable energy. This has been paid over the years, so that Costa Rica does not need to import any fuel to produce electricity. The backbone of the power supply is the water power at over 80%, followed by geothermal and wind energy.
On the southern Pacific coast, down to the border to Panama, you can see many palm oil plantations. The plantations have now expanded so far, that the oil palm tree, after the pineapple, is the most widely cultivated plant in southern Costa Rica. From the fruits of the palm will be extracted the cooking oil, and also basic substances for soaps and cosmetics.
The public "Universidad de Costa Rica" is doing research in order to optimize the process of palm fruits to "bio" diesel. Costa Rica heavily encourages the use of fuels from renewable resources. Not only the oil palm is promoted, but also the cultivation of sugar cane, which is needed for the production of ethanol.
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