In the second quarter, GDP added 4.5% over the same period last year, which was above the 3.0% increase recorded in the first quarter (previously reported: +2.7% year-on-year). The acceleration was driven by an improvement in the external sector, which compensated for weaker domestic demand. Domestic demand slowed to a 3.3% expansion in Q2 from the strong 10.4% increase in the previous quarter, which was entirely due to a negative contribution from inventories. Total consumption expanded 4.5% in Q2, unchanged from the previous quarter, while gross fixed investment expanded 6.7% over the same period last year. Exports of goods and services expanded 6.9%, contrasting the 0.9% contraction recorded in the first quarter, whereas imports decelerated to a 4.8% increase (Q1: +13.8% yoy). As a result, the external sector's net contribution to overall growth swung from minus 6.7 percentage points in the first quarter to plus 1.4 percentage points in the second. At the sector level, the industrial sector rebounded from a 1.2% contraction in the first quarter to a 4.2% expansion, while the services and agricultural sectors accelerated over the previous quarter. According to its July revision of the Macroeconomic Programme 2011-12, the Central Bank sees the economy expanding 4.5% this year, and 4.7% in 2012.
Costa Rica GDP
GDP expands on stronger external sector
September 30, 2011
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Costa Rica Economic News
October 12, 2016
In August, economic activity slowed down slightly to a 4.5% increase from the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica).
October 10, 2016
Consumer prices fell 0.47% in September from the previous month, which contrasted August’s 0.03% increase and marked the lowest reading since March 2016.
October 3, 2016
In the second quarter of 2016, GDP expanded 4.1% over the same period last year.
September 12, 2016
In July, economic activity slowed down slightly to a 5.1% increase over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica).
September 7, 2016
Consumer prices increased 0.03% over the previous month in August, which was a significant slowdown compared to July’s 0.93% increase.