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 Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 3.01 1.1 1.2 1.3 1.3 1.9 percent [+]
Unemployment Rate 8.50 9 9.1 9.8 9.8 9.3 percent [+]
Inflation Rate 0.91 1.5 2 1.7 1.7 4 percent [+]
Interest Rate 4.50 2.5 2.75 2.75 2.75 2.75 percent [+]
Balance of Trade -324.40 -381 -403 -411 -413 -413 USD Million [+]
Government Debt to GDP 62.00 60.76 60.95 60.28 59.61 53.57 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 572.50 564 558 552 547 484 [+]
Stock Market 31901.40 31600 31300 30900 30600 27100 points [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 3.01 1.1 1.2 1.3 1.3 1.9 percent [+]
GDP Annual Growth Rate 3.59 3.8 4.1 4.3 3.6 4.1 percent [+]
GDP 57.44 59.35 59.83 60.47 61.11 67.23 USD Billion [+]
GDP Constant Prices 697648.48 693918 714730 718111 711779 758241 CRC Million [+]
Gross Fixed Capital Formation 129541.49 144411 142464 133435 138267 140477 CRC Million [+]
GDP per capita 9714.10 9845 9915 9962 10008 10540 USD [+]
GDP per capita PPP 15401.50 15000 15000 15774 15843 16770 USD [+]
Gdp From Agriculture 342851.01 320509 328990 344946 339595 331483 CRC Million [+]
Gdp From Construction 293490.98 306999 309868 299075 297836 302335 CRC Million [+]
Gdp From Manufacturing 900264.10 858381 890070 909200 877552 896728 CRC Million [+]
Gdp From Mining 13759.52 18608 19062 18943 18974 18968 CRC Million [+]
Gdp From Public Administration 273172.80 274397 273938 276322 276529 276564 CRC Million [+]
Gdp From Transport 271579.40 274925 277769 280167 283262 302892 CRC Million [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 8.50 9 9.1 9.8 9.8 9.3 percent [+]
Unemployed Persons 207047.00 210001 209109 210712 208803 209348 [+]
Minimum Wages 4968.51 4968 4967 4966 4965 4956 Index Points [+]
Population 4.91 4.95 4.97 4.98 5 5.15 Million [+]
Living Wage Family 824420.00 855775 861517 865831 869072 878302 CRC/Month [+]
Living Wage Individual 787190.90 756850 749983 744293 739576 720236 CRC/Month [+]
Labor Force Participation Rate 59.50 58.62 57.88 58.66 58.63 58.64 percent [+]
Employed Persons 2060757.00 2008242 1988690 2013989 2018189 2014382 [+]
Employment Rate 54.31 53.93 53.09 53.46 53.43 53.66 percent [+]
Wages 617217.00 630148 630130 630130 630130 630130 CRC/Month [+]
Wages High Skilled 699200.00 696182 695875 695591 695330 693615 CRC/Month [+]
Wages Low Skilled 285000.00 271808 270444 269183 268016 260222 CRC/Month [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate 0.91 1.5 2 1.7 1.7 4 percent [+]
Consumer Price Index CPI 100.99 101 101 101 101 100 Index Points [+]
Producer Prices 110.39 111 112 108 108 127 Index Points [+]
Inflation Rate Mom -0.22 0.2 0.45 0.64 0.78 1.11 percent [+]
Food Inflation 1.14 1.18 1.52 2.28 3.08 6.52 percent [+]
CPI Transportation 97.68 97.6 97.13 96.69 96.26 92.78 Index Points [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate 4.50 2.5 2.75 2.75 2.75 2.75 percent [+]
Money Supply M2 10107099.78 10177747 10381910 10571805 10759871 12603781 CRC Million [+]
Foreign Exchange Reserves 6861.22 7748 6313 6783 6340 6631 USD Million [+]
Deposit Interest Rate 1.21 1.71 1.44 1.42 1.4 0.26 percent [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade -324.40 -381 -403 -411 -413 -413 USD Million [+]
Exports 848.00 881 903 895 899 898 USD Million [+]
Imports 1172.40 1234 1252 1264 1265 1264 USD Million [+]
Current Account -330.90 -700 -578 -383 -453 -560 USD Million [+]
Current Account to GDP -3.30 -3.74 -3.57 -3.6 -3.63 -4.02 percent [+]
External Debt 26235.60 27797 28396 28869 29443 34127 USD Million [+]
Capital Flows -172.36 -549 -628 -481 -630 -622 USD Million [+]
Remittances 517.50 510 498 497 497 505 USD Million [+]
Gold Reserves 0.00 0 0 0 0 0 Tonnes [+]
Terrorism Index 0.00 0 0 0 0 0 [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 62.00 60.76 60.95 60.28 59.61 53.57 percent [+]
Government Budget -4.60 -4.8 -4.64 -4.67 -4.7 -4.77 percent of GDP [+]
Government Budget Value -720228.70 -850909 -765513 -787816 -797968 -791843 CRC Million [+]
Government Spending 107648.02 114947 119441 110636 116117 121715 CRC Million [+]
Government Revenues 1860445.70 2311270 2032336 2130300 2154817 2131761 CRC Million [+]
Fiscal Expenditure 2580674.40 3210359 2812683 2954136 2989119 2955714 CRC Million [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Industrial Production 4.20 3.76 3.46 3.71 3.49 3.47 percent [+]
Manufacturing Production 3.60 3.62 3.63 3.65 3.65 3.67 percent [+]
Changes in Inventories 19755.90 -2620 -16750 18550 20110 -11400 CRC Million [+]
Leading Economic Index 4.40 4.11 4.09 4.1 4.1 4.1 percent [+]
Mining Production 3.79 4.09 3.87 3.79 3.81 3.82 percent [+]
Competitiveness Index 4.41 4.36 4.36 4.37 4.37 4.37 Points [+]
Competitiveness Rank 54.00 53 53 54 55 55 [+]
Corruption Index 58.00 57 58 58 58 60 Points [+]
Corruption Rank 41.00 40 39 39 39 38 [+]
Ease of Doing Business 62.00 61 64 65 65 66 [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Consumer Spending 475094.50 425800 426408 428992 428430 427577 CRC Million [+]
Gasoline Prices 0.96 0.95 0.96 0.96 0.96 0.96 USD/Liter [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 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 33.95 33.98 34 34.21 percent [+]
Social Security Rate For Companies 26.33 24.77 24.76 24.8 24.83 25.13 percent [+]
Social Security Rate For Employees 9.34 9.25 9.23 9.22 9.22 9.3 percent [+]