The economy of Chile operates as a market economy and is classified as a high-income economy by the World Bank. It is recognized as one of the most prosperous countries in South America, leading the region in areas such as competitiveness, income per capita, globalization, economic freedom, and low levels of perceived corruption. Despite its prosperity, Chile experiences significant economic inequality, as reflected by its Gini index, though this is close to the regional average. Among Organisation for Economic Co-operation and Development (OECD) countries, Chile has a robust social security system, with social welfare expenditures amounting to approximately 19.6% of GDP.
Costa Rica, officially the Republic of Costa Rica, is a country in the Central American region of North America. It borders Nicaragua to the north, the Caribbean Sea to the northeast, Panama to the southeast, and the Pacific Ocean to the southwest, as well as maritime border with Ecuador to the south of Cocos Island. It has a population of around five million in a land area of nearly 51,180 km2 (19,760 sq mi). An estimated 352,381 people live in the capital and largest city, San José, with around two million people in the surrounding metropolitan area.
The first indigenous peoples of Costa Rica were hunters and gatherers, and when the Spanish conquerors arrived, Costa Rica was divided in two distinct cultural areas due to its geographical location in the Intermediate Area, between Mesoamerican and the Andean cultures, with influences of both cultures.
The politics of Costa Rica take place in a framework of a presidential, representative democratic republic, with a multi-party system. Executive power is exercised by the president and their cabinet, and the President of Costa Rica is both the head of state and head of government. Legislative power is vested in the Legislative Assembly. The president and 57 Legislative Assembly deputies are elected for four-year terms. The judiciary operates independently from the executive and the legislature, but is involved in the political process. Costa Rica has a strong system of constitutional checks and balances. Voting is compulsory de jure, but this is not enforced.
The economy of Costa Rica has been very stable for some years now, with continuing growth in the GDP and moderate inflation, though with a high unemployment rate: 11.49% in 2019. Costa Rica's economy emerged from recession in 1997 and has shown strong aggregate growth since then. The estimated GDP for 2023 is US$90 billion, up significantly from the US$52.6 billion in 2015 while the estimated 2024 per capita is US$28,558.
The economy of Indonesia is a mixed economy with dirigiste characteristics, and it is one of the emerging market economies in the world and the largest in Southeast Asia. As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country. Indonesia nominal GDP reached 20.892 quadrillion rupiah in 2023, it is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Indonesia's internet economy reached US$77 billion in 2022, and is expected to cross the US$130 billion mark by 2025. Indonesia depends on the domestic market and government budget spending and its ownership of state-owned enterprises. The administration of prices of a range of basic goods also plays a significant role in Indonesia's market economy. However, micro, medium and small companies contribute around 61.7% of the economy and significant major private owned companies and foreign companies are also present
The economy of Peru is an emerging, mixed economy characterized by a high level of foreign trade and an upper middle income economy as classified by the World Bank. Peru has the forty-seventh largest economy in the world by total GDP and currently experiences a high human development index. The country was one of the world's fastest-growing economies in 2012, with a GDP growth rate of 6.3%. The economy was expected to increase 9.3% in 2021, in a rebound from the COVID-19 pandemic in Peru. Peru has signed a number of free trade agreements with its main trade partners. China became the nation's largest trading partner following the China–Peru Free Trade Agreement signed on 28 April 2009. Additional free trade agreements have been signed with the United States in 2006, Japan in 2011 and the European Union in 2012. Trade and industry are centralized in Lima while agricultural exports have led to regional development within the nation.
Miguel Ángel Rodríguez Echeverría is a Costa Rican economist, lawyer, businessman and politician who served as President of Costa Rica from 1998 to 2002. He was minister of planning from 1968 to 1970 and minister of the presidency in 1970 during the administration of Jose Joaquin Trejos Fernandez ; member of the board of the Costa Rican Central Bank from 1966 to 1969; congressman from 1990 to 1993, serving as president of the Legislative Assembly during the 1991 to 1992 period; and was elected Secretary General of the Organization of American States (OAS) in 2004. He voluntarily stepped down from this post to return to his country to face allegations of financial wrongdoing during his presidential tenure in Costa Rica. On April 27 of 2011 he was sentenced to 5 years in prison, but this ruling was later reversed in a December 2012 decision by an appeals court, which found him innocent of all charges.
Rafael Ángel Calderón Fournier was President of Costa Rica from 1990 to 1994. He was the presidential candidate of the Social Christian Unity Party for the national elections held in February 2010, but resigned his candidacy on 5 October 2009, when he was sentenced to five years in prison for two counts of corruption.
A referendum on the Dominican Republic–Central America Free Trade Agreement (CAFTA) was held in Costa Rica on 7 October 2007. It was originally to be held on 23 September 2007, but it was postponed on 5 June 2007 due to a court challenge. Opinion polls from April, July and August 2007 suggested that a majority of voters were in favour, while a poll from June saw a majority against. It was ultimately approved by 51.56% of voters.
Foreign direct investment in Iran (FDI) has been hindered by unfavorable or complex operating requirements and by international sanctions, although in the early 2000s the Iranian government liberalized investment regulations. Iran ranks 62nd in the World Economic Forum's 2011 analysis of the global competitiveness of 142 countries. In 2010, Iran ranked sixth globally in attracting foreign investments.
Relations between Costa Rica and the United States have been historically close; nevertheless there were instances in history where the US and Costa Rica disagreed. One such example might be the case of Freebooter William Walker. Nevertheless, considering that Costa Rica generally supports the U.S. in international fora, especially in the areas of democracy and human rights, modern day relations are very strong.
Tourism in Costa Rica has been one of the fastest growing economic sectors of the country and by 1995 became the largest foreign exchange earner. Since 1999, tourism has earned more foreign exchange than bananas, pineapples and coffee exports combined. The tourism boom began in 1987, with the number of visitors up from 329,000 in 1988, through 1.03 million in 1999, over 2 million in 2008, to a historical record of 2.66 million foreign visitors in 2015. In 2012, tourism contributed with 12.5% of the country's GDP and it was responsible for 11.7% of direct and indirect employment. In 2009, tourism attracted 17% of foreign direct investment inflows, and 13% in average between 2000 and 2009. In 2010, the tourism industry was responsible for 21.2% of foreign exchange generated by all exports. According to a 2007 report by ECLAC, tourism contributed to a reduction in poverty of 3% in the country.
Coffee production has played a key role in Costa Rica's history and continues to be important to the country's economy. In 2006, coffee was Costa Rica's number three export, after being the number one cash crop export for several decades. In 1997, the agriculture sector employed 28 percent of the labor force and comprised 20 percent of Costa Rica's total GNP. Production increased from 158,000 tons in 1988 to 168,000 tons in 1992. The largest growing areas are in the provinces of San José, Alajuela, Heredia, Puntarenas, and Cartago. The coffee is exported to other countries in the world and is also exported to cities in Costa Rica.
Epsy Alejandra Campbell Barr is a Costa Rican politician and economist who served as the Vice-president of Costa Rica from 8 May 2018 to 8 May 2022. She is the first woman of African descent to be vice president in Costa Rica and in Latin America.
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control. Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, and intra company loans". FDI is the sum of equity capital, long-term capital, and short-term capital as shown in the balance of payments. FDI usually involves participation in management, joint-venture, transfer of technology and expertise. Stock of FDI is the net cumulative FDI for any given period. Direct investment excludes investment through purchase of shares.
Costa Rica–India relations refers to the international relations that exist between Costa Rica and India. Costa Rica has an embassy in New Delhi whilst India has a non resident ambassador in Panama.
Costa Rica–Spain relations are the diplomatic relations between Costa Rica and Spain. Both nations are members of the Association of Academies of the Spanish Language and the Organization of Ibero-American States.
Eduardo Octavio Trejos Lalli is a Costa Rican internationalist, private consultant and politician. Trejos is the current Costa Rican representative in the Central American Bank for Economic Integration. Trejos was also Director of National Intelligence and Security and has held the position of Deputy Foreign Minister, interim Foreign Minister and Ambassador of Costa Rica to Nicaragua
The Ministry of Foreign Trade is the government ministry of Costa Rica responsible for defining and directing the country's external trade and foreign investment policy, as well as handling non-contentious international administration and representing the Costa Rican state abroad in trade and investment matters.
