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, up to $ 1.8 billion were generated 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 close to the port of Puerto Limón. Recently, we also found some plantations on the Pacific coast, near the port city of Golfito. 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: pineapples, papayas, melons, nuts, sugar and flowers.

Tourism in Costa Rica is becoming more and more important, despite the global economic crisis. In Costa Rica, a sustainable tourism promotion and environmental protection are prioritized in many projects . According to a study based on data from the World Bank, Costa Rica is now on the 4th place of the biggest high-tech exporters worldwide. The Costa Rican government expects an increase in foreign direct investment of up to $ 2 billion in 2012.

In 2010, 46% o f Costa Ricas exports were manufactured by the high-tech industry (2,780 million U.S. Dollars). A worked out strategy, made for exportation 20 years ago, guarantees and ensures succes today. Costa Rica is showing an innovative and forward-looking orientation of its economy.

According to a study of today, 80% of the companies(more than in 2000) operate in the manufacturing sector. One of the best known companies is the chip maker "Intel".

Renewable Energy

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 paid off 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 with over 80%, followed by geothermal and wind energy.

On the southern Pacific coast, down to the border of 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. Cooking oil is extracted from the fruits of the palm 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.