Current Account in Costa Rica
Costa Rica - Current Account (billions of U.S. Dollars)The economy expanded at the swiftest pace in 30 years in Q3, after a firm rebound in government spending and quicker private consumption growth. Turning to Q4, high-frequency indicators paint a mixed picture: Although economic activity grew robustly in October–November, it has continued to lose pace for the last five months. Moreover, import growth comfortably outpaced export growth in both October and November, potentially weighing on the external sector. Meanwhile, after loosening pandemic-related restrictions on 29 December, a record surge in Covid-19 cases led authorities to tighten them again on 12 January. That said, a relatively high vaccination rate should provide some protection to the health system. In politics, although former president José María Figueres is leading some polls in the run-up to the presidential elections on 6 February, no clear favorite has emerged among the record number of candidates.
Costa Rica - Current Account (USD bn) Data
|Current Account Balance (USD bn)||-1.9||-1.3||-2.0||-2.0||-1.5|
5 years of economic forecasts for more than 30 economic indicators.
Costa Rica Current Account (USD bn) Chart
Source: Costa Rica Central Bank and FocusEconomics calculations.
Costa Rica Facts
|Exchange Rate||571.0||-0.57 %||Jan 01|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
January 11, 2022
Economic activity grew 9.8% terms in November, which followed October’s 10.5% increase and again marked the softest expansion since April.
December 30, 2021
GDP growth improved to 12.1% year-on-year in the third quarter from 9.7% in the second quarter, marking the best result since Q3 1992.
December 15, 2021
At its last meeting of the year held on 15 December, the Central Bank of Costa Rica (BCCR) raised the monetary policy rate by 50 basis points to 1.25% from its record low of 0.75%—where it had been since June 2020. The Bank noted robust economic growth in recent months, but mainly cited concerns over persistent global supply chain bottlenecks as potential drivers of further increases in price pressures.
November 11, 2021
Economic activity rose 11.5% terms in September, which was a deterioration from August's 11.9% increase.
November 5, 2021
Consumer prices rose 0.49% in October over the previous month, moderating from September's 0.63% rise.