The sectoral composition of the Costa Rican economy has been relatively stable. Services, taken as a whole, continue to account for the largest share of GDP, with commerce, restaurants and hotels being the most important single contributor. Costa Rica 2011 GDP Growth Rate (source FMI)
Prior to the global economic crisis, Costa Rica enjoyed stable economic growth. The economy contracted 1.3% in 2009 but resumed growth at about 4% per year in 2010-11. The country of Costa Rica has a free trade agreement that is signed with many countries. Most of the countries are part of the Americas, countries like Canada, Chile, Mexico, and of course the United States. However, they also have free trade agreements with the European Union, China, and Singapore that have really helped them. Costa Rica has close relationships with their foreign trade partners and 52 of the partners which represent 83 percent of all of the foreign trade that they do and 86 percent of the exports that they do. Chile also has always been willing to help with trade facilitation measures and to help promote them. Central Bank: Costa Rica economy has momentum
It shows that 2010 was a tough year, with the monthly production-index bars consistently dropping, and the solid-line average declining steadily. But the economy recovered nicely in 2011 – not to the high-growth pace of 2009, but steadily positive for 11 out of 12 months. For 2012, data is available up to March. Though monthly growth flattens, the moving average remains steadily positive.Even with production numbers dropping recently, the economy has built up good momentum, and the moving average is holding at 7 percent over decent 2011 results. Leading Activities…
The Term Paper on Economies Of Different Countries
Mention latest changes in economies of different countries whose classification is on the following basis: Advanced economies: post-industrial countries characterized by high per-capita income, highly competitive industries, and well-developed commercial infrastructure. E.g. Australia, Canada, Japan, United States and Western European countries. Developing economies: low-income countries ...
Costa Rican Import and Export structure
Imports: consist mainly of raw materials for industry and mining, followed by consumer goods and capital goods for industry, mining, and transportation. Major suppliers include the. Exports: Almost two thirds of exports are manufactured goods and one third comprise agricultural products. (coffee, bananas, sugar, cocoa, and cattle and meat products-all commodities vulnerable to world market prices.) The main destination of CR exports is the U.S accounted for around 35% of its share. Asian market is the second with close to 21% of all exports, while the EU’s share is approximately 15%. Compared with modular circuits and other non traditional goods (pineapple..melons), the traditional ones (coffee&bananas) that exported to the EU have declined in relative importance. Foreign Investment
While the improvement in access to new and larger markets is an important incentive in the attraction of new investment and the promotion of the export sector, foreign investors remain attracted by the country’s political stability and relatively high education levels, as well as the incentives offered in the free-trade zones. Costa Rica has attracted one of the highest levels of foreign direct investment per capita in Latin America. Foreign direct investment in Costa Rica has been steadily gaining since plummeting in late 2008, It has increased to a record $2.1 billion in 2011, surpassed the 2008 peak. Growth is projected at double the rate of the U.S. economy.
Business Customs
Costa Rican business executives place great importance on personal contact with foreign suppliers. Appointments should take place in the hosts’ facilities instead of a hotel room unless a special room has been arranged for the meeting.
Handshaking is the common greeting used by visiting businessmen. Gifts are often exchanged on special occasions.
The Essay on Money Spent On Research Is Almost A Good Investment Even When The Results Of That Research Are Cont
Money spent on research is almost a good investment, even when the results of that research are controversial. Here we are talking about a good investment on a controversial research. A good investment is something where we get good returns. Research has always been a good return as it throws light on some of the hidden information. In this fast growing world information is power as well as key to ...
Companies should have business cards, proposals, and other material printed in both English and Spanish. Titles are important and should be included on business cards. At least initially, you should address a person directly by using his or her title only. For persons who do not have professional titles, it is common to show respect by calling a gentleman “Señor” (plus his first name) and a lady “Señora” (plus her first name).
Children and subordinates refer to adults in this manner, and it is a sign of courtesy for people doing business with each other to refer to each other in this way unless otherwise requested by the person you are addressing.
Men should wear a conservative dark suit. In warmer climates, a jacket is optional. Women can wear a dress or skirt and blouse for formal business meetings, but it is far more common for women to wear pants to work. Costa Ricans are much more formal and serious than other Latin Americans. Therefore, you should keep jackets on during business meetings.
