Costa Rica Economic Activity December 2020

Costa Rica

Costa Rica: Decline in economic activity softens notably in December

February 15, 2021

Economic activity slid 4.7% year-on-year in December (November: -5.3%). The print marked the best result since the outbreak of the pandemic in February.

December’s result reflected a broad-based upturn, with activity in the agriculture, forestry and fishing, manufacturing and construction sub-sectors all improving in December.

In month-on-month terms adjusted for working days, economic activity grew 0.6% in December for the second consecutive month, matching November’s growth rate. Meanwhile, annual average growth worsened, coming in at minus 4.9% in December, down from November’s minus 4.3% reading.

FocusEconomics Consensus Forecast panelists project the economy to expand 3.1% in 2021, which is down 0.1 percentage points from last month’s forecast. In 2022, panelists forecast the economy to grow 3.5%.

Author:, Junior Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity December 20 20

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

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