The economy of Costa Rica advanced 1.9 percent year-on-year in the third quarter of 2019, gaining steam from an upwardly revised 1.5 percent expansion in the previous period (vs preliminary 1.4 percent). Output grew at a faster pace for manufacturing (2.7 percent vs 2.3 percent) and information & communication services (7.4 percent vs 6.8 percent). Meanwhile, output rebounded for primary activity (0.9 percent vs -0.1 percent). In contrast, output contracted for construction (-16.6 percent vs -13.3 percent) and commercial services (-0.2 percent vs -0.4 percent). On the expenditure side, government spending expanded 5.2 percent (vs 2.9 percent), while private spending remained growing at a 1.6 percent pace, whereas gross fixed investment fell 7.9 percent (vs -7.2 percent in Q2). Exports grew 3.5 percent (vs 3.2 percent) and imports 1.4 percent (vs 1.1 percent).

GDP Annual Growth Rate in Costa Rica averaged 4.32 percent from 1992 until 2019, reaching an all time high of 10.10 percent in the third quarter of 1992 and a record low of -0.70 percent in the first quarter of 2009. This page provides the latest reported value for - Costa Rica GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Central Bank of Costa Rica

GDP Annual Growth Rate in Costa Rica is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Costa Rica to stand at 2.60 in 12 months time. In the long-term, the Costa Rica GDP Annual Growth Rate is projected to trend around 3.00 percent in 2021, according to our econometric models.


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Costa Rica GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.90 1.50 10.10 -0.70 1992 - 2019 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-04-01 03:30 PM Q4 1.9% 2.4% 2.6%
2019-07-01 04:00 PM Q1 1.8% 1.9% 2.2%
2019-10-01 03:40 PM Q2 1.4% 1.6% 1%
2019-12-26 11:00 PM Q3 1.9% 1.5% 1.7%
2020-03-31 03:30 PM Q4 1.9% 2.5%
2020-06-30 04:00 PM Q1 2.5%
2020-09-30 03:40 PM Q2 2.6%
2020-12-30 07:00 PM Q3 2.3%


News Stream
Costa Rica GDP Growth Accelerates
The economy of Costa Rica advanced 1.9 percent year-on-year in the third quarter of 2019, gaining steam from an upwardly revised 1.5 percent expansion in the previous period (vs preliminary 1.4 percent). Output grew at a faster pace for manufacturing (2.7 percent vs 2.3 percent) and information & communication services (7.4 percent vs 6.8 percent). Meanwhile, output rebounded for primary activity (0.9 percent vs -0.1 percent). In contrast, output contracted for construction (-16.6 percent vs -13.3 percent) and commercial services (-0.2 percent vs -0.4 percent). On the expenditure side, government spending expanded 5.2 percent (vs 2.9 percent), while private spending remained growing at a 1.6 percent pace, whereas gross fixed investment fell 7.9 percent (vs -7.2 percent in Q2). Exports grew 3.5 percent (vs 3.2 percent) and imports 1.4 percent (vs 1.1 percent).
2019-12-26
Costa Rica Q2 GDP Growth Slows to 9-1/2-Year Low
The economy of Costa Rica advanced 1.4 percent year-on-year in the second quarter of 2019, slowing from a downwardly revised 1.6 percent expansion in the previous period. It was the weakest growth rate since the last quarter of 2009, as output shrank further in agriculture (-1.8 percent vs -1.3 percent in Q1), construction (-8.7 percent vs -2.6 percent) and trade (-0.4 percent vs -0.3 percent). Also, output growth eased in real estate (2.9 percent vs 3.1 percent); financial activities & insurance (4.1 percent vs 5.6 percent); public administration (0.2 percent vs 0.6 percent); and professional activities (3.4 percent vs 3.6 percent). On the expenditure side, fixed investment contracted 6.9 percent (vs -1.6 percent in Q1); public spending eased (1.6 percent vs 2 percent) while household consumption rose 1.4 percent (the same as in Q1).
2019-10-01
Costa Rica Q1 GDP Growth Weakest since 2009
The economy of Costa Rica advanced 1.8 percent year-on-year in the first quarter of 2019, easing from a 1.9 percent expansion in the previous period. It was the weakest growth rate since the last quarter of 2009, as output shrank in agriculture (-0.6 percent vs 0.1 percent in Q4) and trade (-0.4 percent vs 0.5 percent). Also, mining output contract further (-6.6 percent vs -4 percent) and growth slowed in manufacturing (1.4 percent vs 1.9 percent); construction (1 percent vs 1.9 percent); and real estate (2 percent vs 2.2 percent). On the expenditure side, fixed investment shrank 1.4 percent, after expanding 1.3 percent in the prior quarter; household consumption grew 1.6 percent (the same as in Q4), while public spending rebounded (1.6 percent vs -2.1 percent).
2019-07-01
Costa Rica GDP Growth Eases to 1.9% in Q4
The economy of Costa Rica grew 1.9 percent year-on-year in the fourth quarter of 2018, following a revised 2.4 percent expansion in the previous three-month period, as growth slowed for agriculture (0.8 percent vs 1.6 percent in Q3), construction (6.5 percent vs 7.4 percent), trade (0.9 percent vs 1.5 percent) and information and communication (5.2 percent vs 6.6 percent), while education and health output continued to contract (-3.3 percent vs -0.5 percent). By contrast, growth accelerated for manufacturing (2.2 percent vs 2.1 percent); financial and insurance activities (5.8 percent vs 4.2 percent) and business services (4.2 percent vs 4 percent). On the expenditure side of the accounts, a slowdown was seen in private consumption (1.6 percent vs 2 percent) and fixed investment (2.2 percent vs 2.9 percent), while public spending fell further (-3.2 percent vs -0.3 percent).
2019-04-01

Costa Rica GDP Annual Growth Rate
The biggest sector of Costa Rica’s economy is services, which accounts for 63 percent of GDP. Within services the most important segments are: transport, communication and warehousing (16 percent of GDP); trade, restaurants and hotels (15 percent) and community, personal and social services (9 percent). Manufacturing, mining and quarrying create 21 percent of the wealth. Agriculture, forestry and fishing contribute for 9 percent of the output and construction and water and electricity distribution for the remaining 7 percent.