Costa Rica Economic Activity April 2021

Costa Rica

Costa Rica: Economic activity growth accelerates at fastest pace in over two decades in April

June 11, 2021

Economic activity gained further traction in April, expanding at a multi-decade high pace of 8.8% in annual terms—albeit partly due to a low base effect—accelerating from March’s 2.5% rise.

Looking at the details of the release, April’s upturn was broad-based. Output in the manufacturing and commerce sectors expanded notably, while activity in the transportation and storage, the hospitality and food, and the mining and quarrying sectors rebounded markedly.

On a calendar-adjuster monthly basis, economic activity rose 0.6% in April, moderating from March’s 0.7% increase. Meanwhile, the trend pointed up, with annual average variation of economic activity coming in at minus 4.3% in April (March: minus 5.7%).

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 3.4%.

Author:, Junior Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity April 2021 1

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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