Costa Rica | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Costa Rica including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Costa Rica economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 4.30 1.2 1.1 1.2 1.3 1.9 percent [+]
Unemployment Rate 9.10 9.46 9.46 9.53 9.8 9.3 percent [+]
Inflation Rate 1.64 1.4 1.5 2 1.7 4 percent [+]
Interest Rate 2.50 1.75 2 2 2.25 2.75 percent [+]
Balance of Trade -273.20 -367 -397 -412 -415 -415 USD Million [+]
Government Debt to GDP 62.11 57.95 57.9 57.85 56.35 42.15 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 580.70 555 560 577 571 659 [+]
Stock Market 31901.40 31600 31300 30300 30600 25500 points [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 4.30 1.2 1.1 1.2 1.3 1.9 percent [+]
GDP Annual Growth Rate 4.21 3.6 3.8 4.1 4.3 4.1 percent [+]
GDP 54.14 52.81 56.18 57.23 57.84 67.14 USD Billion [+]
GDP Constant Prices 694597.33 694346 695828 716868 722338 765246 CRC Million [+]
Gross Fixed Capital Formation 141905.03 132115 142071 140130 128164 136606 CRC Million [+]
GDP per capita 9237.95 9317 9373 9428 9464 10031 USD [+]
GDP per capita PPP 14646.57 15000 15000 15000 15097 16770 USD [+]
Gdp From Agriculture 327273.20 345238 322613 332595 354444 336999 CRC Million [+]
Gdp From Construction 327549.80 302353 315120 319086 312660 314311 CRC Million [+]
Gdp From Manufacturing 871367.80 848724 848661 879802 883936 879410 CRC Million [+]
Gdp From Mining 31012.53 19941 19018 19249 19191 19203 CRC Million [+]
Gdp From Public Administration 268219.60 268002 268406 268320 268101 268307 CRC Million [+]
Gdp From Transport 266028.60 272691 267531 270789 270169 275164 CRC Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 9.10 9.46 9.46 9.53 9.8 9.3 percent [+]
Unemployed Persons 207047.00 212637 210001 209109 210712 209348 [+]
Minimum Wages 4968.51 4971 4972 4972 4972 4972 Index Points [+]
Population 4.91 4.94 4.95 4.97 4.98 5.15 Million [+]
Living Wage Family 824420.00 848132 855775 861517 865831 878302 CRC/Month [+]
Living Wage Individual 787190.90 765134 756850 749983 744293 720236 CRC/Month [+]
Labor Force Participation Rate 59.50 59.18 58.62 57.88 58.66 58.64 percent [+]
Employed Persons 2060757.00 2020063 2008242 1988690 2013989 2014382 [+]
Employment Rate 54.00 53.3 52.78 52.28 52.92 52.99 percent [+]
Wages 591714.00 636858 638584 638617 638613 638612 CRC/Month [+]
Wages High Skilled 699200.00 696515 696182 695875 695591 693615 CRC/Month [+]
Wages Low Skilled 285000.00 273282 271808 270444 269183 260222 CRC/Month [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.64 1.4 1.5 2 1.7 4 percent [+]
Consumer Price Index CPI 100.57 101 101 101 102 105 Index Points [+]
Producer Prices 108.73 109 109 109 108 109 Index Points [+]
Inflation Rate Mom 0.15 0.07 0.1 0.11 0.11 0.11 percent [+]
Food Inflation 0.13 -0.32 -0.59 -0.59 -0.63 -0.62 percent [+]
Cpi Transportation 97.50 97.76 97.85 97.81 97.81 97.81 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 2.50 1.75 2 2 2.25 2.75 percent [+]
Money Supply M2 9997469.23 10098196 10307356 10508492 10708350 12862212 CRC Million [+]
Foreign Exchange Reserves 7222.15 6864 7820 7250 7873 7588 USD Million [+]
Deposit Interest Rate 2.40 2.75 2.69 2.63 2.59 1.53 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -273.20 -367 -397 -412 -415 -415 USD Million [+]
Exports 956.80 860 873 870 870 870 USD Million [+]
Imports 1394.60 1323 1312 1315 1317 1317 USD Million [+]
Current Account -693.90 -444 -544 -648 -452 -562 USD Million [+]
Current Account to GDP -4.20 -4.65 -4.46 -4.28 -4.32 -4.65 percent [+]
External Debt 26436.80 28085 28796 29490 30201 37125 USD Million [+]
Capital Flows -614.98 -594 -591 -623 -602 -642 USD Million [+]
Remittances 517.50 522 510 498 497 505 USD Million [+]
Gold Reserves 0.00 0 0 0 0 0 Tonnes [+]
Terrorism Index 0.00 0 0 0 0 0 [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 62.11 57.95 57.9 57.85 56.35 42.15 percent [+]
Government Budget -5.60 -5.22 -5.4 -5.59 -5.58 -5.52 percent of GDP [+]
Government Budget Value -409769.20 -872572 -864432 -755158 -786668 -792061 CRC Million [+]
Government Spending 118118.18 113249 114941 119433 110621 121690 CRC Million [+]
Government Revenues 1195995.50 2550837 2316668 2008414 2177043 2158186 CRC Million [+]
Fiscal Expenditure 1605764.70 3535613 3225096 2778254 3022618 2995666 CRC Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Industrial Production 4.10 3.08 3.18 2.59 2.9 2.71 percent [+]
Manufacturing Production 5.00 1.87 1.6 1.43 1.38 1.31 percent [+]
Changes in Inventories 19755.90 11440 729 -5938 13228 1444 CRC Million [+]
Leading Economic Index 3.30 4.28 4.24 4.26 4.26 4.26 percent [+]
Mining Production -4.00 -8.14 -8.6 -8.85 -8.99 -9.15 percent [+]
Competitiveness Index 4.41 4.36 4.36 4.36 4.37 4.37 Points [+]
Competitiveness Rank 54.00 53 53 53 55 55 [+]
Corruption Index 58.00 57 57 58 58 60 Points [+]
Corruption Rank 41.00 41 40 39 39 38 [+]
Ease of Doing Business 62.00 58 61 64 65 66 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Spending 461808.88 415280 415369 417612 417160 416408 CRC Million [+]
Gasoline Prices 1.00 0.99 1 1 1 1 USD/Liter [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 30.00 30 30 30 30 30 percent [+]
Personal Income Tax Rate 15.00 15 15 15 15 15 percent [+]
Sales Tax Rate 13.00 13 13 13 13 13 percent [+]
Social Security Rate 35.67 33.96 33.96 33.95 33.98 34.21 percent [+]
Social Security Rate For Companies 26.33 24.77 24.77 24.76 24.8 25.13 percent [+]
Social Security Rate For Employees 9.34 9.27 9.25 9.23 9.22 9.3 percent [+]