Current Account in Costa Rica
Costa Rica - Current AccountEconomic growth rebounded in the first quarter of 2019, after growth in Q4 2018 slowed to the lowest rate in nearly six years. The economic expansion at the outset of this year was supported by quicker private consumption growth, which benefited from a lower unemployment rate. Nonetheless, consumer spending growth was undoubtedly capped by consumer confidence in the quarter plunging to its most pessimistic level since September 2002. A slump in fixed investment and strong import growth, meanwhile, further detracted from GDP growth in Q1. Turning to the second quarter, the economic picture looks mixed so far. On the one hand, consumer confidence increased slightly in May, although consumers remained deeply pessimistic; on the other hand, economic activity growth fell to an over five-year low in April, weighed on by a struggling agriculture sector.
Costa Rica - Current Account Data
|Current Account (% of GDP)||-4.9||-4.8||-3.5||-2.2||-3.0|
5 years of economic forecasts for more than 30 economic indicators.
Costa Rica Current Account Chart
Source: Costa Rica Central Bank and FocusEconomics calculations.
Costa Rica Facts
|Exchange Rate||580.9||-0.57 %||Jul 11|
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Costa Rica: Inflation accelerates in June and the Central Bank cuts rates for the third time this year
July 5, 2019
Consumer prices rose 0.27% in June compared to the previous month, up from 0.14% in May.
June 28, 2019
In the first quarter of 2019, the economy grew 2.3% compared to the same quarter a year earlier.
June 11, 2019
Annual economic growth in cyclically-adjusted terms slowed to 1.6% in April, which was down from March’s revised 1.8% growth (previously reported: +1.9% year-on-year) and represented the slowest expansion since November 2013. Economic activity growth in April was hampered by a struggling agriculture sector, activity in which has fallen every month since September 2018 but which fell 3.9% in April—the fastest decrease in over a decade, specifically since February 2009.
June 3, 2019
Consumer prices rose 0.14% in May compared to the previous month, down from April’s 0.56% increase.
May 10, 2019
Annual economic growth in cyclically-adjusted terms was unchanged in March from February’s revised 1.9% reading (previously reported: +1.7% year-on-year), according to the monthly index of economic activity published by the Central Bank of Costa Rica.