Costa Rica

C

Energy

Costa Rica has developed its hydroelectric resources and no longer requires petroleum to meet any of its energy needs. By the end of the 20th century, it had become an exporter of electricity. A new hydroelectric plant under construction in the early 2000s would increase the country’s electricity exports.

D

Currency and Foreign Trade

The unit of currency is the colón, consisting of 100 centimos (477.80 colones equal U.S.$1; 2005 estimate). The Banco Central, established in 1950, is the bank of issue and administers foreign reserves.

In 2003 the value of imports was $7.4 billion and of exports, $5.8 billion. The chief exports included bananas, beef, coffee, machinery and electrical equipment, sugar, and textiles. Principal imports were manufactured goods, machinery, transportation equipment, chemicals, crude petroleum, and foodstuffs. Chief purchasers of exports are the United States, the Netherlands, Guatemala, Germany, and Malaysia. Leading suppliers of imports were the United States, Mexico, Japan, and Venezuela.

The entry in 1963 of Costa Rica into the Central American Common Market brought about major increases in trade in that region although its importance has since waned. In 1995 Costa Rica joined in the formation of the Association of Caribbean States (ACS). A free-trade organization, the ACS comprises the members of the Caribbean Community and Common Market (CARICOM) as well as 12 Latin nations bordering the Caribbean.

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E

Tourism

Costa Rica is a popular tourist destination in Latin America. It has a stable government and fairly high standard of living as well as excellent beaches, beautiful mountain scenery, volcanoes, and stunning national parks. Birdwatchers are attracted by the country’s diverse bird life. Butterflies also abound. Most of the country’s tourists come from the United States.

F

Transportation

Railroad lines in Costa Rica were severely damaged by an earthquake in the early 1990s and were shut down indefinitely. Roads total 35,889 km (22,301 mi); some 680 km (some 425 mi) of roadway forms a portion of the Inter-American Highway. San José is linked by road with the cities of the surrounding plateau region, and bus service is good. Several domestic airlines provide service within the country. Juan Santamaría Airport, which is located near San José, is served by the Costa Rican national airline and several foreign airlines.

G

Communications

In 2001 Costa Rica had 8 daily newspapers. There were 829 radio receivers and 248 televisions for every 1,000 residents. In 2005 Costa Rica had 321 telephone mainlines for every 1,000 people. Internet usage was growing steadily.