Current Account in Costa Rica

Costa Rica Current Account | Economic News & Forecasts

Costa Rica - Current Account

The economy slowed in 2018 due to weak consumption growth and sluggish fixed investment, according to preliminary data released by the Central Bank. Although GDP data for the fourth quarter will only be released on 29 March, the Central Bank’s monthly economic activity data points to a sharp slowdown in the final months of the year. This is likely due to public street protests against new fiscal reform measures including the replacement of the old general sales tax with a VAT. On 25 February, the IMF said the fiscal reform was critical to restoring sustainability of government finances; however, the Fund also stated that additional consolidation steps should be pursued to reduce the government’s high near-term financing needs. Meanwhile, a vast new industrial port was inaugurated in Limón on 28 February, which will significantly enhance the maritime connectivity of Costa Rica.

Costa Rica - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-5.4  -5.3  -3.8  -2.8  -3.2  

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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

ValueChangeDate
Exchange Rate607.2-0.57 %Mar 11

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