what type of economic system does costa rica have
Economy of Costa Rica The country has evolved from an economy that once depended solely on agriculture, to one that is more diverse, based on tourism, electronics and medical components exports, medical manufacturing and IT services.[12][14] Corporate services for foreign companies employ some 3% of the workforce.[15] Of the GDP, 5.5% is generated by agriculture, 18.6% by industry and 75.9% by services (2016).[2] Agriculture employs 12.9% of the labor force, industry 18.57%, services 69.02% (2016)[16] Many foreign companies operate in the various Free-trade zones.[17] In 2015, exports totalled US$12.6 billion while imports totalled US$15 billion for a trade deficit of US$2.39 billion.[6]
Costa Rica Costa Rica was sparsely inhabited by indigenous people before coming under Spanish rule in the 16th century. It remained a peripheral colony of the empire until independence as part of the short-lived First Mexican Empire, followed by membership in the United Provinces of Central America, from which it formally declared independence in 1847. Since then, Costa Rica has remained among the most stable, prosperous, and progressive nations in Latin America. Following the brief Costa Rican Civil War, it permanently abolished its army in 1949, becoming one of only a few sovereign nations without a standing army.[15][16][17]