Costa Rica

Wikipedia Country Information

Costa Rica (; Spanish: [ˈkosta ˈrika]; literally meaning "Rich Coast"), officially the Republic of Costa Rica (Spanish: República de Costa Rica), is a country in Central America, bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west, the Caribbean Sea to the east, and Ecuador to the south of Cocos Island. It has a population of around 4.9 million, in a land area of 51,060 square kilometers (19,714 square miles); over 300,000 live in the capital and largest city, San José with a population of an estimated 333,980 in 2015.
Costa Rica has been known for its stable democracy in a region that has had some instability and for its highly educated workforce, most of whom speak English. The country spends roughly 6.9% of its budget (2016) on education, compared to a global average of 4.4%. Its economy, once heavily dependent on agriculture, has diversified to include sectors such as finance, corporate services for foreign companies, pharmaceuticals, and ecotourism. Many foreign companies (manufacturing and services) operate in Costa Rica's Free Trade Zones (FTZ) where they benefit from investment and tax incentives.
In spite of impressive growth in the Gross domestic product (GDP), low inflation, moderate interest rates and an acceptable unemployment level, Costa Rica in 2017 was facing a liquidity crisis due to a growing debt and budget deficit. By August 2017, the Treasury was having difficulty paying its obligations. Other challenges facing the country in its attempts to improve the economy by increasing foreign investment include a poor infrastructure and a need to improve public sector efficiency.
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 sovereignty in 1847. Since then, Costa Rica has remained among the most stable, prosperous, and progressive nations in Latin America. Following a brief civil war, it permanently abolished its army in 1949, becoming one of only a few sovereign nations without a standing army. Costa Rica is an observing member of the Organisation Internationale de la Francophonie (OIF).
The country has consistently performed favourably in the Human Development Index (HDI), placing 69th in the world as of 2015, among the highest of any Latin American nation. It has also been cited by the United Nations Development Programme (UNDP) as having attained much higher human development than other countries at the same income levels, with a better record on human development and inequality than the median of the region.
Costa Rica also has progressive environmental policies, being the only country to meet all five UNDP criteria established to measure environmental sustainability. It was ranked 42nd in the world, and third in the Americas, in the 2016 Environmental Performance Index, was twice ranked the best performing country in the New Economics Foundation's (NEF) Happy Planet Index, which measures environmental sustainability, and was identified by the NEF as the greenest country in the world in 2009. Costa Rica officially plans to become a carbon-neutral country by 2021. By 2016, 98.1% of its electricity was generated from green sources.


Instruments ratified: 105 / 282
World Average Ratifications: 114 / 282
Ratification rate: 40.72%
World Average Rate: 41.25%
Weighted score: 47.77%
World Average Weighted Score: 41.25%
World rank: 87 / 194
Central America rank: 5 / 8
Central America Avg. Ratifications: 112 / 282
Developing country rank: 35 / 87
Developing country Avg. Ratifications: 109 / 282
CONTRACTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Agency0/20.00%2.00%8Weak
Conflict of laws0/70.00%3.00%27Weak
E-commerce1/3 (33.33%)33.33%18.00%33Strong
Franchising0/10.00%0.00%1Average
Leasing/Factoring0/20.00%5.00%13Weak
Principles, trade usages and standards0/20.00%0.00%1Average
Procurement0/40.00%3.00%31Weak
Sale of Goods0/50.00%25.00%89Weak
Travel contracts0/10.00%3.00%7Weak
Total17.25%9.00%94Weak
 
CUSTOMSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Customs Codification1/3 (33.33%)100.00%78.00%1Strong
Customs Cooperation0/60.00%26.00%117Weak
Exemption from Duties3/9 (33.33%)40.74%30.00%66Strong
Temporary Admission1/11 (9.09%)14.71%28.00%94Weak
Transit0/40.00%28.00%98Weak
Total522.83%31.00%104Weak
 
DISPUTE RESOLUTIONInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Arbitration2/6 (33.33%)50.00%32.00%29Strong
Judicial cooperation4/5 (80.00%)94.74%36.00%23Strong
Recognition of foreign judgments0/20.00%2.00%6Weak
State court jurisdiction0/40.00%14.00%29Weak
State court procedure0/10.00%6.00%12Weak
State immunities 0/10.00%11.00%22Weak
Total656.00%29.00%33Strong
 
ENVIRONMENT AND PRODUCTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Air4/5 (80.00%)80.00%86.00%59Weak
Chemicals1/1 (100.00%)100.00%78.00%1Strong
Energy0/20.00%25.00%50Weak
Flora and fauna7/10 (70.00%)76.09%68.00%46Strong
Foodstuff2/2 (100.00%)100.00%79.00%1Strong
General1/1 (100.00%)100.00%95.00%1Weak
International watercourses0/10.00%18.00%36Weak
Maritime and Law of the Sea4/26 (15.38%)13.04%46.00%155Weak
Protected geographical areas 0/10.00%27.00%54Weak
Waste1/1 (100.00%)100.00%93.00%1Weak
Total2046.88%61.00%149Weak
 
FINANCE, PAYMENTS AND INSOLVENCYInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Assignment of receivables0/10.00%1.00%2Weak
Bankruptcy and insolvency0/10.00%21.00%41Weak
Bills of exchange and promissory notes0/40.00%8.00%43Weak
Cheques0/30.00%13.00%36Weak
Credit transfers0/10.00%0.00%1Average
International guarantees1/3 (33.33%)27.27%20.00%68Strong
Total17.32%12.00%108Weak
 
GOOD GOVERNANCE Inst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Corruption1/4 (25.00%)41.67%50.00%92Weak
Cultural Property2/4 (50.00%)50.00%54.00%61Weak
Drugs3/3 (100.00%)100.00%95.00%1Weak
Insider Trading0/10.00%4.00%9Weak
Organized crime2/2 (100.00%)100.00%80.00%1Strong
Total869.23%68.00%86Weak
 
HUMAN RIGHTS AND LABOUR STANDARDSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Human Rights7/7 (100.00%)100.00%96.00%1Weak
Labour Standards8/8 (100.00%)100.00%86.00%1Strong
Total15100.00%91.00%1Average
 
INSTITUTIONAL PARTICIPATIONInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Dispute Resolution1/1 (100.00%)100.00%39.00%1Strong
International Trade Law 8/10 (80.00%)80.00%73.00%56Average
Trade support institutions3/6 (50.00%)50.00%51.00%82Weak
Total1270.59%63.00%69Strong
 
INTELLECTUAL PROPERTYInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Broadcasting1/1 (100.00%)100.00%47.00%1Strong
Copyright3/3 (100.00%)100.00%65.00%1Strong
Industrial designs0/20.00%31.00%82Weak
Integrated circuits0/10.00%2.00%4Weak
Neighboring Rights3/3 (100.00%)100.00%46.00%1Strong
Origin2/3 (66.67%)66.67%14.00%7Strong
Patents3/5 (60.00%)71.43%57.00%60Strong
Trademarks0/60.00%33.00%124Weak
Varieties of plants1/1 (100.00%)100.00%37.00%1Strong
Total1357.89%42.00%58Strong
 
INVESTMENTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Investment disputes1/2 (50.00%)50.00%39.00%2Strong
Investment guaranty1/1 (100.00%)100.00%93.00%1Weak
Total266.67%57.00%2Strong
 
PRODUCTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Marine Resources0/10.00%24.00%48Weak
Timber0/10.00%31.00%61Weak
General1/1 (100.00%)100.00%92.00%1Weak
Total138.46%53.00%85Weak
 
TRANSPORT AND TELECOMMUNICATIONSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Air transport4/7 (57.14%)76.19%59.00%54Strong
Aircrafts and civil aviation 6/9 (66.67%)80.00%74.00%72Weak
Maritime shipping and load lines 3/13 (23.08%)25.71%66.00%160Weak
Maritime transport3/12 (25.00%)20.83%27.00%103Weak
Multi modal transport 0/20.00%4.00%15Weak
Rail transport0/30.00%22.00%50Weak
Road transport0/40.00%31.00%86Weak
Space1/4 (25.00%)16.67%40.00%103Weak
Telecommunications2/2 (100.00%)100.00%47.00%1Strong
Total1938.51%50.00%138Weak
 
TREATIES LAWInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
General1/4 (25.00%)41.67%30.00%41Strong
Total141.67%30.00%41Strong
 
WTOInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Plurilateral Agreements0/20.00%18.00%45Weak
WTO Agreements1/1 (100.00%)100.00%81.00%1Strong
Total145.45%47.00%45Weak
 
Strong
ContractsE-commerce
CustomsCustoms Codification
CustomsExemption from Duties
Dispute resolutionArbitration
Dispute resolutionJudicial cooperation
Environment and productsChemicals
Environment and productsFlora and fauna
Environment and productsFoodstuff
Finance, payments and insolvencyInternational guarantees
Good Governance Organized crime
Human Rights and Labour StandardsLabour Standards
Institutional ParticipationDispute Resolution
Intellectual propertyBroadcasting
Intellectual propertyCopyright
Intellectual propertyNeighboring Rights
Intellectual propertyOrigin
Intellectual propertyPatents
Intellectual propertyVarieties of plants
InvestmentsInvestment disputes
Transport and telecommunicationsAir transport
Transport and telecommunicationsTelecommunications
Treaties lawGeneral
WTOWTO Agreements
 
Average
ContractsFranchising
ContractsPrinciples, trade usages and standards
Finance, payments and insolvencyCredit transfers
Institutional ParticipationInternational Trade Law
 
Weak
ContractsAgency
ContractsConflict of laws
ContractsLeasing/Factoring
ContractsProcurement
ContractsSale of Goods
ContractsTravel contracts
CustomsCustoms Cooperation
CustomsTemporary Admission
CustomsTransit
Dispute resolutionRecognition of foreign judgments
Dispute resolutionState court jurisdiction
Dispute resolutionState court procedure
Dispute resolutionState immunities
Environment and productsAir
Environment and productsEnergy
Environment and productsGeneral
Environment and productsInternational watercourses
Environment and productsMaritime and Law of the Sea
Environment and productsProtected geographical areas
Environment and productsWaste
Finance, payments and insolvencyAssignment of receivables
Finance, payments and insolvencyBankruptcy and insolvency
Finance, payments and insolvencyBills of exchange and promissory notes
Finance, payments and insolvencyCheques
Good Governance Corruption
Good Governance Cultural Property
Good Governance Drugs
Good Governance Insider Trading
Human Rights and Labour StandardsHuman rights
Institutional ParticipationTrade support institutions
Intellectual propertyIndustrial designs
Intellectual propertyIntegrated circuits
Intellectual propertyTrademarks
InvestmentsInvestment guaranty
ProductsGeneral
ProductsMarine Resources
ProductsTimber
Transport and telecommunicationsAircrafts and civil aviation
Transport and telecommunicationsMaritime shipping and load lines
Transport and telecommunicationsMaritime transport
Transport and telecommunicationsMulti modal transport
Transport and telecommunicationsRail transport
Transport and telecommunicationsRoad transport
Transport and telecommunicationsSpace
WTOPlurilateral Agreements

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