Current Account in Costa Rica

Costa Rica Current Account | Economic News & Forecasts

Costa Rica - Current Account

Growth in Q1 2022 likely slowed from 2021’s rally. Economic activity contracted in every month of Q1 2022 in seasonally-adjusted month-on-month terms due to rising inflation, interest rate hikes and the country’s worst Covid-19 wave to date. This trend should be lasting in Q2: The positive impact of rising commodity prices on the key exports sector is likely being outweighed by scorching inflation, steeper production costs and even tighter monetary policy. Still, a rebound in tourism and a region-leading vaccination scheme will be supporting activity. On 9 May, President Chaves declared a state of emergency after a Russia-based group of cyber attackers struck key government institutions, including the Ministry of Finance. The attacks have likely led to several million dollars in lost output already. In the longer term, the risk of future breaches may deter foreign investment and trade.

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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