Trade Balance in Costa Rica
Costa Rica - Trade BalanceThe economic panorama likely remained downbeat in Q3 due to the ongoing health crisis. Economic activity contracted at a sharper pace in July–August, while the unemployment rate remained high in the same period. More positively, however, exports recovered and imports fell at a softer pace in Q3. Turning to Q4, further restrictions have been eased, with air borders reopening to all countries on 1 November—without the need for a 14-day quarantine upon arrival nor proof of a negative coronavirus test —aiming to boost tourism and employment in the sector. However, this could lead to an increase in Covid-19 cases, which continued to rise in the country through September and October. In other news, in late October, the government modified the 2021 draft budget to include a 7.5% reduction in primary spending compared to 2020, in an attempt to control public expenditure.
Costa Rica - Trade Balance Data
|Trade Balance (USD billion)||-5.5||-5.3||-5.3||-5.3||-4.7|
5 years of economic forecasts for more than 30 economic indicators.
Costa Rica Trade Balance Chart
Source: Costa Rica Central Bank and FocusEconomics calculations.
Costa Rica Facts
|Exchange Rate||571.0||-0.57 %||Jan 01|
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May 12, 2021
Economic activity expanded for the first time in 13 months in March, growing 3.9% in annual terms, swinging from February’s 4.5% contraction.
May 7, 2021
Consumer prices increased 0.29% over the previous month in April, accelerating from the 0.03% rise logged in March.
April 21, 2021
At its 21 April meeting, the Central Bank of Costa Rica opted once again to maintain the monetary policy rate at its record low of 0.75%, where it has been since 17 June 2020.
April 9, 2021
Economic activity fell 4.7% in annual terms in February (January: -4.8% yoy).
March 31, 2021
The economy shrank in the final quarter of 2020, albeit at a notably more moderate pace than in the third quarter (Q4: -3.7% year-on-year; Q3: -7.0% yoy), according to rebased national accounts data, with the new base year referring to 2017 prices.