Costa Rica GDP

Costa Rica

Costa Rica: Economic growth slows in second quarter

September 28, 2012

In the second quarter, GDP expanded 5.7% over the same period last year. The reading came in below the revised 7.3% increase seen in the preceding quarter (previously reported: +7.2% year-on-year). The deceleration was driven by a deterioration of the external sector. Exports of goods and services slowed from a strong 16.2% expansion in the first quarter to a softer 9.6% increase in the second quarter, while imports moderated at a milder pace and rose 7.9%, below the 9.5% rise tallied in the first quarter. As a result, the net contribution from the external sector to overall growth fell from plus 3.4 percentage points in the first quarter to plus 1.3 percentage points in the second. On the domestic side of the economy, total consumption decelerated to a 4.6% increase in the second quarter (Q1: +5.2% yoy), as both private and government consumption slowed somewhat, increasing 5.0% (Q1: +5.6% yoy) and 1.7% (Q1: +1.8% yoy) respectively. Meanwhile, gross fixed investment decelerated from a 13.0% expansion in the first quarter to a 6.9% increase in the second. A quarter-on-quarter comparison corroborates the slowdown suggested by the annual figures as GDP expanded a seasonally adjusted 0.5% over the previous quarter, well below the 1.6% expansion seen in the previous quarter. According to the latest revision to the Macroeconomic Programme 2012-2013, the Central Bank sees the economy expanding 4.8% this year. For 2013, the Bank expects economic growth to slow to 4.2%.


Author:,

Sample Report

Looking for forecasts related to GDP in Costa Rica? Download a sample report now.

Download




Costa Rica Economic News

  • Costa Rica: Economic activity growth accelerates in December

    February 9, 2018

    In December, year-on-year growth in economic activity accelerated to the fastest pace in 10 months, increasing from a revised 3.2% in November (previously reported: +2.4% year-on-year) to 3.5%, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR). December’s result was underpinned by increased activity in the services and manufacturing sectors.

    Read more

  • Costa Rica: Inflation decelerates in January

    February 7, 2018

    In January, consumer prices increased 0.41% month-on-month, down slightly from December’s 0.47% increase.

    Read more

  • Costa Rica: Economic activity growth picks up in November

    January 11, 2018

    Annual growth in economic activity increased from a revised 2.2% in October (previously reported: +2.3% year-on-year) to 2.4% in November last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR). Although November’s annual growth rate was the highest in three months, it was low by historical standards.

    Read more

  • Costa Rica: Inflation accelerates in December

    January 8, 2018

    In December, consumer prices increased 0.47% month-on-month, up from November’s 0.16% increase.

    Read more

  • Costa Rica: GDP growth slows in Q3 on lower investment

    December 22, 2017

    The economy lost steam in Q3 as fixed investment contracted sharply amid higher interest rates and increased uncertainty.

    Read more

More news

Search form