Costa Rica's growth slows.In an undated report posted on the website of Central America Today, a project of the University of San Pedro Sula San Pedro Sula (säm pā`thrō s `lä), city (1997 est. pop. 417,000), capital of Cortés dept., NW Honduras. It is the second largest city in the country. (Honduras), the
average growth rate of Costa Rica's Index of Economic Activity was
registered at 6.7 percent. This was 1.9 percent lower than the annual
growth rate of 8.6 percent for all of 2006.
Imports to Costa Rica for pharmaceuticals and vehicles increased 9.0 percent through August 2007. The comparison was with the same period in 2006. The solid showing of imports in these two product categories is an indication of relatively strong consumer spending. The International Monetary Fund (IMF IMF See: International Monetary Fund IMF See International Monetary Fund (IMF). ), in its August 2007 forecast, said that the economy of Costa Rica The economy of Costa Rica heavily depends on tourism, agriculture, and electronics exports. Poverty has been reduced over the past 15 years, and a social safety net put into place. Economic growth rebounded from -0.9% in 1996 to 4% in 1997, 6% in 1998, 7% in 1999. would expand 6.0 percent in 2007. This compares with an increase in GDP GDP (guanosine diphosphate): see guanine. of 7.9 percent in 2006. The slowing of the economy of the United States The United States economy has the world's largest gross domestic product (GDP), $13.21 trillion in 2006. It is a mixed economy where corporations and other private firms make the majority of microeconomic decisions while being regulated by the government. (US) is the likely cause of the sharp drop. The US is a major trading partner. The IMF says that for 2008 GDP growth will decline further to 5.0 percent. |
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