Costa Rica

Abstract

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.


Summary
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
Comparative Statistical Analysis
CONTRACTS Inst. ratified Country score World avg. score Country rank in world Strength
Agency 0/2 0.00% 2.00% 8 Weak
Conflict of laws 0/7 0.00% 3.00% 27 Weak
E-commerce 1/3 (33.33%) 33.33% 18.00% 33 Strong
Franchising 0/1 0.00% 0.00% 1 Average
Leasing/Factoring 0/2 0.00% 5.00% 13 Weak
Principles, trade usages and standards 0/2 0.00% 0.00% 1 Average
Procurement 0/4 0.00% 3.00% 31 Weak
Sale of Goods 0/5 0.00% 25.00% 89 Weak
Travel contracts 0/1 0.00% 3.00% 7 Weak
Total 1 7.25% 9.00% 94 Weak
 
CUSTOMS Inst. ratified Country score World avg. score Country rank in world Strength
Customs Codification 1/3 (33.33%) 100.00% 78.00% 1 Strong
Customs Cooperation 0/6 0.00% 26.00% 117 Weak
Exemption from Duties 3/9 (33.33%) 40.74% 30.00% 66 Strong
Temporary Admission 1/11 (9.09%) 14.71% 28.00% 94 Weak
Transit 0/4 0.00% 28.00% 98 Weak
Total 5 22.83% 31.00% 104 Weak
 
DISPUTE RESOLUTION Inst. ratified Country score World avg. score Country rank in world Strength
Arbitration 2/6 (33.33%) 50.00% 32.00% 29 Strong
Judicial cooperation 4/5 (80.00%) 94.74% 36.00% 23 Strong
Recognition of foreign judgments 0/2 0.00% 2.00% 6 Weak
State court jurisdiction 0/4 0.00% 14.00% 29 Weak
State court procedure 0/1 0.00% 6.00% 12 Weak
State immunities 0/1 0.00% 11.00% 22 Weak
Total 6 56.00% 29.00% 33 Strong
 
ENVIRONMENT AND PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Air 4/5 (80.00%) 80.00% 86.00% 59 Weak
Chemicals 1/1 (100.00%) 100.00% 78.00% 1 Strong
Energy 0/2 0.00% 25.00% 50 Weak
Flora and fauna 7/10 (70.00%) 76.09% 68.00% 46 Strong
Foodstuff 2/2 (100.00%) 100.00% 79.00% 1 Strong
General 1/1 (100.00%) 100.00% 95.00% 1 Weak
International watercourses 0/1 0.00% 18.00% 36 Weak
Maritime and Law of the Sea 4/26 (15.38%) 13.04% 46.00% 155 Weak
Protected geographical areas 0/1 0.00% 27.00% 54 Weak
Waste 1/1 (100.00%) 100.00% 93.00% 1 Weak
Total 20 46.88% 61.00% 149 Weak
 
FINANCE, PAYMENTS AND INSOLVENCY Inst. ratified Country score World avg. score Country rank in world Strength
Assignment of receivables 0/1 0.00% 1.00% 2 Weak
Bankruptcy and insolvency 0/1 0.00% 21.00% 41 Weak
Bills of exchange and promissory notes 0/4 0.00% 8.00% 43 Weak
Cheques 0/3 0.00% 13.00% 36 Weak
Credit transfers 0/1 0.00% 0.00% 1 Average
International guarantees 1/3 (33.33%) 27.27% 20.00% 68 Strong
Total 1 7.32% 12.00% 108 Weak
 
GOOD GOVERNANCE Inst. ratified Country score World avg. score Country rank in world Strength
Corruption 1/4 (25.00%) 41.67% 50.00% 92 Weak
Cultural Property 2/4 (50.00%) 50.00% 54.00% 61 Weak
Drugs 3/3 (100.00%) 100.00% 95.00% 1 Weak
Insider Trading 0/1 0.00% 4.00% 9 Weak
Organized crime 2/2 (100.00%) 100.00% 80.00% 1 Strong
Total 8 69.23% 68.00% 86 Weak
 
HUMAN RIGHTS AND LABOUR STANDARDS Inst. ratified Country score World avg. score Country rank in world Strength
Human Rights 7/7 (100.00%) 100.00% 96.00% 1 Weak
Labour Standards 8/8 (100.00%) 100.00% 86.00% 1 Strong
Total 15 100.00% 91.00% 1 Average
 
INSTITUTIONAL PARTICIPATION Inst. ratified Country score World avg. score Country rank in world Strength
Dispute Resolution 1/1 (100.00%) 100.00% 39.00% 1 Strong
International Trade Law 8/10 (80.00%) 80.00% 73.00% 56 Average
Trade support institutions 3/6 (50.00%) 50.00% 51.00% 82 Weak
Total 12 70.59% 63.00% 69 Strong
 
INTELLECTUAL PROPERTY Inst. ratified Country score World avg. score Country rank in world Strength
Broadcasting 1/1 (100.00%) 100.00% 47.00% 1 Strong
Copyright 3/3 (100.00%) 100.00% 65.00% 1 Strong
Industrial designs 0/2 0.00% 31.00% 82 Weak
Integrated circuits 0/1 0.00% 2.00% 4 Weak
Neighboring Rights 3/3 (100.00%) 100.00% 46.00% 1 Strong
Origin 2/3 (66.67%) 66.67% 14.00% 7 Strong
Patents 3/5 (60.00%) 71.43% 57.00% 60 Strong
Trademarks 0/6 0.00% 33.00% 124 Weak
Varieties of plants 1/1 (100.00%) 100.00% 37.00% 1 Strong
Total 13 57.89% 42.00% 58 Strong
 
INVESTMENTS Inst. ratified Country score World avg. score Country rank in world Strength
Investment disputes 1/2 (50.00%) 50.00% 39.00% 2 Strong
Investment guaranty 1/1 (100.00%) 100.00% 93.00% 1 Weak
Total 2 66.67% 57.00% 2 Strong
 
PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Marine Resources 0/1 0.00% 24.00% 48 Weak
Timber 0/1 0.00% 31.00% 61 Weak
General 1/1 (100.00%) 100.00% 92.00% 1 Weak
Total 1 38.46% 53.00% 85 Weak
 
TRANSPORT AND TELECOMMUNICATIONS Inst. ratified Country score World avg. score Country rank in world Strength
Air transport 4/7 (57.14%) 76.19% 59.00% 54 Strong
Aircrafts and civil aviation 6/9 (66.67%) 80.00% 74.00% 72 Weak
Maritime shipping and load lines 3/13 (23.08%) 25.71% 66.00% 160 Weak
Maritime transport 3/12 (25.00%) 20.83% 27.00% 103 Weak
Multi modal transport 0/2 0.00% 4.00% 15 Weak
Rail transport 0/3 0.00% 22.00% 50 Weak
Road transport 0/4 0.00% 31.00% 86 Weak
Space 1/4 (25.00%) 16.67% 40.00% 103 Weak
Telecommunications 2/2 (100.00%) 100.00% 47.00% 1 Strong
Total 19 38.51% 50.00% 138 Weak
 
TREATIES LAW Inst. ratified Country score World avg. score Country rank in world Strength
General 1/4 (25.00%) 41.67% 30.00% 41 Strong
Total 1 41.67% 30.00% 41 Strong
 
WTO Inst. ratified Country score World avg. score Country rank in world Strength
Plurilateral Agreements 0/2 0.00% 18.00% 45 Weak
WTO Agreements 1/1 (100.00%) 100.00% 81.00% 1 Strong
Total 1 45.45% 47.00% 45 Weak
 
Strengths and Weakness
Strong
Contracts E-commerce
Customs Customs Codification
Customs Exemption from Duties
Dispute resolution Arbitration
Dispute resolution Judicial cooperation
Environment and products Chemicals
Environment and products Flora and fauna
Environment and products Foodstuff
Finance, payments and insolvency International guarantees
Good Governance Organized crime
Human Rights and Labour Standards Labour Standards
Institutional Participation Dispute Resolution
Intellectual property Broadcasting
Intellectual property Copyright
Intellectual property Neighboring Rights
Intellectual property Origin
Intellectual property Patents
Intellectual property Varieties of plants
Investments Investment disputes
Transport and telecommunications Air transport
Transport and telecommunications Telecommunications
Treaties law General
WTO WTO Agreements
 
Average
Contracts Franchising
Contracts Principles, trade usages and standards
Finance, payments and insolvency Credit transfers
Institutional Participation International Trade Law
 
Weak
Contracts Agency
Contracts Conflict of laws
Contracts Leasing/Factoring
Contracts Procurement
Contracts Sale of Goods
Contracts Travel contracts
Customs Customs Cooperation
Customs Temporary Admission
Customs Transit
Dispute resolution Recognition of foreign judgments
Dispute resolution State court jurisdiction
Dispute resolution State court procedure
Dispute resolution State immunities
Environment and products Air
Environment and products Energy
Environment and products General
Environment and products International watercourses
Environment and products Maritime and Law of the Sea
Environment and products Protected geographical areas
Environment and products Waste
Finance, payments and insolvency Assignment of receivables
Finance, payments and insolvency Bankruptcy and insolvency
Finance, payments and insolvency Bills of exchange and promissory notes
Finance, payments and insolvency Cheques
Good Governance Corruption
Good Governance Cultural Property
Good Governance Drugs
Good Governance Insider Trading
Human Rights and Labour Standards Human rights
Institutional Participation Trade support institutions
Intellectual property Industrial designs
Intellectual property Integrated circuits
Intellectual property Trademarks
Investments Investment guaranty
Products General
Products Marine Resources
Products Timber
Transport and telecommunications Aircrafts and civil aviation
Transport and telecommunications Maritime shipping and load lines
Transport and telecommunications Maritime transport
Transport and telecommunications Multi modal transport
Transport and telecommunications Rail transport
Transport and telecommunications Road transport
Transport and telecommunications Space
WTO Plurilateral Agreements
Instruments ratifications

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