External Debt in Costa Rica
Costa Rica - External Debt
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 - External Debt Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| External Debt (% of GDP) | 43.1 | 44.7 | 46.4 | 47.9 | 49.7 |
Costa Rica External Debt Chart
Source: Costa Rica Central Bank and FocusEconomics calculations.
Costa Rica Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 571.0 | -0.57 % | Jan 01 |
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Economic News
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Costa Rica: Economic activity growth slows for fourth month running in November
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.
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Costa Rica: Economy records best result since Q3 1992 in the third quarter
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.
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Costa Rica: Central Bank raises policy rate from its record low in December
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.
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Costa Rica: Economic activity growth ebbs in September
November 11, 2021
Economic activity rose 11.5% terms in September, which was a deterioration from August's 11.9% increase.
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Costa Rica: Inflation increases in October
November 5, 2021
Consumer prices rose 0.49% in October over the previous month, moderating from September's 0.63% rise.
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