Costa Rica Economic Activity

Costa Rica

Economic activity stabilizes in December

In December, economic activity increased 3.0% over the same month the previous year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica). The figure matched the revised increase in November (previously reported: +2.5% year-on-year). The expansion was mostly driven by growth in the manufacturing and commerce sectors.

Compared to the previous month, economic activity added 0.68% in seasonally adjusted terms, virtually unchanged from the 0.67% increase recorded in November. Based on monthly figures, GDP expanded 3.0% annually in the fourth quarter of 2012, down from the 4.0% expansion recorded in the previous quarter.

In addition, IMAE figures suggest that the economy expanded 5.0% in 2012. If confirmed, the economy would have accelerated compared to the 4.2% expansion in 2011. According to the first draft of the Macroeconomic Programme 2013-2014, the Central Bank sees the economy expanding between 3.75% and 4.25% this year.


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Costa Rica Economic Activity Chart

Costa Rica Economic Activity December 2012

Note: Year-on-year changes and annual average variation of trend-cycle economic activity in %.
Source: Costa Rica Central Bank (BCCR) and FocusEconomics calculations.

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