Costa Rica GDP Q3 2016

Costa Rica

Costa Rica: Growth decelerates in Q3

December 30, 2016

In the third quarter of 2016, GDP expanded 4.4% over the same period of the previous year. The reading marked a slowdown from Q2’s growth of 5.3%. All the components of domestic demand decelerated and the external sector also weighed on the economic performance.

In Q3, total consumption moderated from Q2’s 4.2% increase to a slower, but still robust, 3.2% expansion. Private consumption rose 3.5%, down from Q2’s 4.9% increase, and government spending picked up slightly from the 1.7% expansion of the previous quarter to a 2.1% increase in Q3. Fixed investment improved from Q2’s 5.7% drop to a 0.1% decrease in Q3.

On the external side of the economy, exports of goods and services moderated from the astounding 12.5% growth of Q2 to expand 4.1% over the same quarter of the previous year. Imports growth also slowed down to 4.4% in Q3, which was below Q2’s 11.4% increase. The result was a negative contribution to overall growth from the external sector of minus 0.3 percentage points, deteriorating from the minus 0.1 percentage point detraction seen in Q2.

The Central Bank expects the economy to expand 4.1% in 2017 and 4.1% in 2018. FocusEconomics Consensus Forecast panelists expect GDP to expand 3.9% in 2017, which is unchanged from last month’s projection. For 2018, participants see economic growth of 3.9%.

Author:, Economist

Sample Report

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


Costa Rica GDP Chart

Costa Rica GDP Q316

Note: Year-on-year changes of GDP in %.
Source: Costa Rica Central Bank (BCCR) and FocusEconomics Consensus Forecast.

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