Current Account in Costa Rica

Costa Rica Current Account | Economic News & Forecasts

Costa Rica - Current Account

The economy will have contracted sharply in the Q2 due to lockdown restrictions introduced in March, after almost grinding to a halt in Q1. Economic activity plummeted in April and May according to Central Bank data. Moreover, merchandise exports fell in April–May by around 15% in annual terms, as global demand dried up. Meanwhile, although government spending was broadly stable in January–April compared to the same period last year, this was due to an increase in debt payments masking a drop in capital spending; revenue also slipped, resulting in a slightly higher fiscal deficit. More positively, the government has been relaxing coronavirus restrictions since 1 May, although the process is gradual and all activity will require social distancing. Moreover, the World Bank loaned USD 300 million to the government on 26 June.

Costa Rica - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-3.5  -2.2  -3.4  -3.3  -2.5  

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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

Value Change Date
Exchange Rate571.0-0.57 %Jan 01

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