World Country Guide

Business Profile

Economy
About half of Costa Rica’s export earnings are derived from agriculture (coffee, bananas, meat, sugar and cocoa). Staple crops are also grown for domestic consumption. Manufacturing industry consists of food-processing, textiles, chemicals and plastics and is steadily expanding with government encouragement. New industries include aluminium production, following the discovery of a large bauxite deposit; and a rapid move into the computer industry, as a result of which, microprocessors have become a valuable export. Oil and hydroelectricity meet the bulk of the country’s energy needs. Tourism dominates the service sector and is the most important source of foreign exchange earnings. The economy is nearly static at present with annual growth under one per cent. Costa Rica receives some international aid through international bodies such as the IMF, the Inter-American Development Bank (IDB) and from the USA, which is Costa Rica’s main trading partner. Costa Rica is also a member of the Central American Common Market.

Business
Customs tend to be conservative. Advance appointments, courtesy and punctuality are appreciated. It is preferable to have some knowledge of Spanish, although many locals speak English. Best months for business visits are November and December; avoid the last week of September, which is the end of the financial year. Government office hours: Mon-Fri 0800-1600.

Commercial Information
The following organisations can offer advice: Cmara de Comercio de Costa Rica (Chamber of Commerce), Apartado 1114-1000, 1000 San Jos (tel: 221 0005; fax: 223 157; e-mail: servicio@camara-comercio.com; website: www.camara-comercio.com); or Cmara de Industrias de Costa Rica (Chamber of Industries), 350 metros sur de la Fuente de la Hispanidad, San Pedro de Montes de Oca, Apartado 10003, San Jos (tel: 281 0006; fax: 234 6163; e-mail: cicr@cicr.com; website: www.cicr.com); or Costa Rican-American Chamber of Commerce, Apartado 4946-1000, San Jos (tel: 220 2200; fax: 220 2300; e-mail: chamber@amcham.co.cr; website: www.amcham.co.cr); or Promotora de Comercio Exterior de Costa Rica (PROCOMER), Apartado 1278-1007, San Jos (tel: 256 7111; fax: 233 4655; e-mail: info@procomer.com; website: www.procomer.com).