Current Account in Costa Rica

Costa Rica Current Account | Economic News & Forecasts

Costa Rica - Current Account

Economic growth likely accelerated in Q3, after posting the worst performance in almost a decade in Q2. Activity growth accelerated in August and July in cyclically-adjusted terms, likely in part due to the Central Bank’s recent interest rate cuts, which should have supported private consumption and fixed investment. Moreover, merchandise export growth gained steam in the quarter as a whole. However, this economic acceleration should have been modest given the new VAT, which was introduced in July, stoked inflation and eroded consumers’ spending power. Furthermore, business and consumer confidence sank in Q3. In politics, Finance Minister Aguilar, who played a key role in recent fiscal reforms, resigned on 23 October, which could further unnerve business confidence. In other news, the government-affiliated National Wages Council recently supported increasing the minimum wage by 2.5% from 1 January.

Costa Rica - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-4.9  -4.8  -3.5  -2.2  -3.0  

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Costa Rica Current Account Chart

Costa Rica Current Account
Note: Current account balance as % of GDP.
Source: Costa Rica Central Bank and FocusEconomics calculations.

Costa Rica Facts

Exchange Rate576.5-0.57 %Sep 04

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