The economy of Costa Rica has been very stable for some years now, with continuing growth in the GDP (Gross Domestic Product) and moderate inflation, though with a high unemployment rate: 11.49% in 2019.

[4] Inflation remained around 4% to 5% per annum for several years up to 2015 but then dropped to 0.7% in 2016; it was expected to rise to a still moderate 2.8% by the end of 2017[19] In 2017, Costa Rica had the highest standards of living in Central America[20] in spite of the high poverty level.

[27] By August 2017, Costa Rica was having difficulty paying its obligations and the President promised dramatic changes to handle the "liquidity crisis".

The agency noted that the fiscal deficit remains high and public debt continues to rise rapidly despite the authorities’ deepened consolidation efforts in 2016.

[35][36] The IMF also expressed concern about increasing deficits, public debt and the heavy dollarization of bank assets and liabilities, warning that in tighter-than-expected global financial conditions these aspects would "seriously undermine investor confidence".

Moody's was also concerned about the "lack of political consensus to implement measures to reduce the fiscal deficit [which] will result in further pressure on the government's debt ratios".

Of greater concern is the fact that a full 46% of the budget will require financing, a step that will increase the debt owed to foreign entities.

[39] In early August 2017, President Luis Guillermo Solís admitted that the country was facing a "liquidity crisis", an inability to pay all of its obligations and to guarantee the essential services.

[39] "Despite all the public calls and efforts we have made since the start of my administration to contain spending and increase revenues, there is still a gap that we must close with fresh resources," he said.

The crisis was occurring in spite of the growth, low inflation and continued moderate interest rates, Solís concluded.

[29] A 2016 report by the U.S. government report identifies other challenges facing Costa Rica as it works to expand its economy by working with potential foreign investors:[40] Costa Rica's rainfall, and its location in the Central American isthmus, which provides easy access to North and South American markets and direct ocean access to the European and Asian Continents.

One-fourth of Costa Rica's land is dedicated to national forests, often adjoining beaches, which has made the country a popular destination for affluent retirees and ecotourists.

[45] In mid 2017, the country was planning to ban large-scale commercial fishing off the southern Pacific Coast in an area nearly a million acres in size.

[50] With a $1.92-billion-a-year tourism industry, Costa Rica was the most visited nation in the Central American region, with 2.42 million foreign visitors in 2013.

In the 2008 Travel and Tourism Competitiveness Index (TTCI), Costa Rica reached the 44th place in the world ranking, being the first among Latin American countries, and second if the Caribbean is included.

The main agricultural exports from the country include: bananas, pineapples (the second highest export, with over 50% share of the world market),[62] other tropical fruits, coffee (much of it grown in the Valle Central or Meseta Central),[63] sugar, rice, palm oil, vegetables, tropical fruits, ornamental plants, maize, and potatoes.

[40] In 2015 the following were the major export products (US$): medical instruments ($2 billion), bananas ($1.24B), tropical fruits ($1.22B), integrated circuits ($841 million) and orthopedic appliances ($555M).

[26] Over the years, Costa Rica successfully attracted important investments by such companies as Intel Corporation, Procter & Gamble, Abbott Laboratories and Baxter Healthcare.

[25] Companies with facilities in the America Free Zone in Heredia, for example, include Dell, HP, Bayer, Bosch, DHL, IBM and Okay Industries.

[71] In 2017, Intel had 2000 employees in the country, and was operating a facility which assembles, tests and distributes processors[72] and a Global Innovation Center, both in Heredia.

[40][73] The fastest growing aspect of the economy is the provision of corporate services for foreign companies which in 2016 employed approximately 54,000 people in a country with a workforce under 342,000; that was up from 52,400 the previous year.

[53] Costa Rica has not discovered sources of fossil fuels—apart from minor coal deposits—but its mountainous terrain and abundant rainfall have permitted the construction of a dozen hydroelectric power plants, making it self-sufficient in all energy needs, except for refined petroleum.

[76] Mild climate and trade winds make neither heating nor cooling necessary, particularly in the highland cities and towns where some 90% of the population lives.

[78] According to a 2016 U.S. government report, investment from China which attempted to improve the infrastructure found the "projects stalled by bureaucratic and legal concerns".

"[80] In a June 2017 interview, President Luis Guillermo Solís said that private sector investment would be required to solve the problems.

"Of course Costa Rica’s infrastructure deficit is a challenge that outlasts any one government and I hope that we have created the foundations for future administrations to continue building.

"[81] The government hopes to bring foreign investment, technology, and management into the telecommunications and electrical power sectors, which are monopolies of the state.

Costa Rica signed a bilateral trade agreement with Mexico in 1994, which was later amended to cover a wider range of products.

Opponents of free agricultural trade have sometimes attempted to block imports of products already grown in Costa Rica, including rice, potatoes, and onions.

[6] Government bond ratings: (January 2017) Standard & Poor's: BB−; Moody's: Ba2[103][37] Budget deficit: 6.1 percent of the GDP[30] Population below poverty line: 20.5% (2017)[21] Household income or consumption by percentage share: lowest 10%: 1.2% highest 10%: 39.5% (2009 est.)