Current Account in Costa Rica

Costa Rica Current Account | Economic News & Forecasts

Costa Rica - Current Account

The economy appeared to have a tough second quarter, with activity slowing considerably in the period owing to falling agricultural activity amid the recent long spell of dry weather. GDP figures, however, will not be released until 30 September. Turning to the third quarter, the economy should strengthen somewhat, as suggested by July’s rebound in merchandise exports, while the Central Bank’s recent rate cuts should support private consumption and fixed investment. The introduction of the new VAT in July will limit gains from this, however, and almost certainly contributed to a fall in consumer confidence in August, although should help buffer government coffers after the fiscal deficit widened slightly in H1. Meanwhile, in politics, the government presented its 2020 fiscal budget to Congress on 30 August, which would increase current expenditure at the weakest pace in a decade.

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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