Costa Rica Economic Activity November 2021

Costa Rica

Costa Rica: Economic activity growth slows for fourth month running in November

January 11, 2022

Economic activity grew 9.8% terms in November, which followed October’s 10.5% increase and again marked the softest expansion since April. The reading was driven by broad-based slowdown across a number of sectors: Agriculture, forestry and fishing, construction, mining, transportation and manufacturing all lost pace in November.

On a monthly basis, economic activity grew 0.5% in calendar-adjusted terms in November, following October’s 0.4% increase. Meanwhile, the trend improved, with the annual average growth of economic activity coming in at plus 5.2%, up from September's 4.2% reading.

FocusEconomics Consensus Forecast panelists project the economy to expand 4.4% in 2022, which is up 0.3 percentage points from last month’s forecast. In 2023, panelists forecast the economy to grow 3.5%.

Author:, Junior Economist

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Costa Rica Economic Activity Chart

Costa Rica Economic Activity November 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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