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 Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.00 1.4 1.4 1.3 1.4 1.3 percent
Unemployment Rate 10.20 9 8.8 9.3 9.6 9.4 percent
Inflation Rate 1.86 2.3 2.5 2.7 2.9 3 percent
Interest Rate 5.25 5.25 5.25 5.25 5.5 5.5 percent
Balance of Trade -258.50 -363 -371 -372 -366 -366 USD Million
Government Debt to GDP 65.10 68 70 70 70 70 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Stock Market 31901.40
points
30300 32739 32747 32752 27100
Currency 609.00
583 585 587 589 596
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.00
percent
1.4 1.4 1.3 1.4 1.3
GDP Annual Growth Rate 3.60
percent
3.2 3.6 3.8 3.1 3.5
GDP 57.06
USD Billion
59.1 60 60 60 62
GDP Constant Prices 7051447.89
CRC Million
7327011 7387340 7319403 6967380 7841294
Gross Fixed Capital Formation 1303008.79
CRC Million
1404020 1252028 1352523 1239442 1502568
GDP per capita 9792.00
USD
10297 10500 10500 10500 10700
GDP per capita PPP 15524.99
USD
15739 16300 16300 16300 16770
GDP From Agriculture 371006.54
CRC Million
346349 376597 385105 339914 370659
GDP From Construction 332729.17
CRC Million
318136 303970 345373 256047 340466
GDP From Manufacturing 809637.37
CRC Million
872004 897455 840404 810650 933210
GDP From Mining 16450.38
CRC Million
31548 19846 17075 17310 33763
GDP From Public Administration 279586.16
CRC Million
284580 288452 290210 282449 304554
GDP From Services 672662.52
CRC Million
745135 701010 698224 666733 797437
GDP From Transport 276203.54
CRC Million
278618 280917 286699 274553 298174
GDP From Utilities 180589.19
CRC Million
181421 177913 187452 182713 194155
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 10.20
percent
9 8.8 9.3 9.6 9.4
Unemployed Persons 242228.00
240000 239308 238821 241857 230000
Minimum Wages 5089.29
Index Points
5089 5089 5089 5089 5089
Population 4.95
Million
5.01 5.03 5.04 5.06 5.19
Wages 633490.00
CRC/Month
657000 700000 637991 637991 708000
Wages High Skilled 748700.00
CRC/Month
775600 775600 743257 736350 790600
Wages Low Skilled 296600.00
CRC/Month
326274 326274 316368 316403 340351
Labor Force Participation Rate 61.10
percent
60 60.1 58.74 59.39 60.5
Living Wage Family 331800.00
CRC/Month
331800 365500 331800 331800 375500
Living Wage Individual 209000.00
CRC/Month
209000 209000 209000 209000 209000
Employed Persons 2138140.00
2090717 2091334 2057133 2064268 2088642
Employment Rate 54.90
percent
53.91 53.83 52.7 53.06 53.88
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.86
percent
2.3 2.5 2.7 2.9 3
Consumer Price Index CPI 103.86
Index Points
105 106 106 106 111
Producer Prices 114.50
Index Points
113 114 114 114 115
Inflation Expectations 3.55
percent
3.59 3.61 3.63 3.63 3.62
Inflation Rate Mom 0.37
percent
0.2 -0.1 0.2 0.3 0.1
Food Inflation 1.12
percent
2.4 2.37 2.44 0.27 2.6
Cpi Housing Utilities 106.04
Index Points
107 108 108 109 114
CPI Transportation 107.41
Index Points
103 104 106 108 109
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 5.25
percent
5.25 5.25 5.25 5.5 5.5
Money Supply M2 10647524.45
CRC Million
10764780 10899269 11047030 11196312 12506648
Foreign Exchange Reserves 6932.82
USD Million
7613 7106 6702 7214 7016
Deposit Interest Rate 2.79
percent
2.79 2.79 2.79 3.04 3.04
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -258.50
USD Million
-363 -371 -372 -366 -366
Exports 852.00
USD Million
916 922 916 918 918
Imports 1110.50
USD Million
1277 1293 1287 1284 1284
Current Account -651.60
USD Million
-582 -414 -603 -635 -570
Current Account to GDP -3.00
percent
-5.09 -4.93 -4.54 -3.89 -3.85
External Debt 28642.00
USD Million
28500 30113 30552 31010 29000
Capital Flows -74.34
USD Million
-684 -909 -486 -674 -640
Remittances 111.48
USD Million
60 120 100 115 125
Gold Reserves 0.00
Tonnes
0 0 0 0 0
Terrorism Index 0.00
0 0 0 0 0
Foreign Direct Investment 529.80
USD Million
600 870 710 570 950
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 65.10
percent
68 70 70 70 70
Government Budget -5.40
percent of GDP
-6 -6.4 -6.4 -6.4 -6.3
Government Budget Value -1296692.50
CRC Million
-902619 -941551 -979824 -945302 -953287
Government Spending 1195549.89
CRC Million
1196312 1184427 1240981 1179764 1280281
Government Revenues 3009285.80
CRC Million
2112941 2260390 2354673 2286825 2299233
Fiscal Expenditure 4305978.30
CRC Million
2968182 3201941 3334497 3232126 3252520
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Industrial Production 3.80
percent
3.9 3.4 3 3.2 3.6
Manufacturing Production 2.70
percent
2.5 2.6 2.8 3 3.1
Changes in Inventories -39446.70
CRC Million
-14630 49382 -19736 74988 -11400
Leading Economic Index 4.10
percent
3.4 3.5 3.7 3.7 3.6
Internet Speed 4091.66
KBps
4763 4854 4953 5049 5820
IP Addresses 531033.00
IP
542595 548064 548928 547757 559884
Industrial Production Mom 0.20
percent
0.28 0.32 0.3 0.31 0.31
Mining Production -0.50
percent
1.6 1.4 1.6 1.7 1.5
Competitiveness Index 62.14
Points
62.64 62.64 62.64 62.64 65.14
Competitiveness Rank 55.00
55 55 55 55 55
Corruption Index 59.00
Points
59 59 59 59 59
Corruption Rank 38.00
38 38 38 38 38
Ease of Doing Business 67.00
61 71 72 72 76
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Spending 4746060.86
CRC Million
4920867 4865551 4926411 4740714 5266263
Gasoline Prices 1.11
USD/Liter
1.09 1.07 1.05 1.03 0.96
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 30.00
percent
30 30 30 30 30
Personal Income Tax Rate 15.00
percent
15 15 15 15 15
Sales Tax Rate 13.00
percent
13 13 13 13 13
Social Security Rate 35.67
percent
35.67 35.67 35.67 35.67 35.67
Social Security Rate For Companies 26.33
percent
26.33 26.33 26.33 26.33 26.33
Social Security Rate For Employees 9.34
percent
9.34 9.34 9.34 9.34 9.34
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 191.73
mm
301 93.88 250 250 256
Temperature 24.61
celsius
24.93 25.77 25.25 25.25 26.23



Costa Rica - Economic Forecasts - 2018-2020 Outlook