Costa Rica:
Outlook: Our panelists expect a slowdown in economic growth in 2026. Higher U.S. import tariffs—raised to 15% from 10% in August—will weigh on external demand and dampen momentum in export-heavy industries. The agricultural sector, which had held up under previous tariffs, now faces a weaker outlook, particularly the fruit industry. The manufacturing sector is also set to lose steam and could face further challenges as the U.S. mulls duties on medical device imports, a key Costa Rican industry. A potential tariff exemption negotiated in the coming months poses an upside risk to GDP growth.