Costa Rica’s GDP surged by 7.9 percent year-on-year in the second quarter of 2021, following an upwardly revised contraction of 1.9 percent in the previous quarter. It was the largest growth recorded since the third quarter of 2007 brought by the easing, to some extent, of pandemic related restrictions. Output rebounded for transportation (30.9 percent vs -14 percent in Q1), restaurants and hotels (49.5 percent vs -40.3 percent), and mining and quarrying (13 percent vs -1.2 percent). Also, manufacturing production accelerated (19.8 percent vs 9.1 percent). source: Central Bank of Costa Rica

GDP Annual Growth Rate in Costa Rica averaged 4.08 percent from 1992 until 2021, reaching an all time high of 9.90 percent in the third quarter of 1992 and a record low of -7.10 percent in the second quarter of 2020. This page provides the latest reported value for - Costa Rica GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Costa Rica GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.

GDP Annual Growth Rate in Costa Rica is expected to be 5.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Costa Rica GDP Annual Growth Rate is projected to trend around 3.20 percent in 2022 and 3.10 percent in 2023, according to our econometric models.

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Costa Rica GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-01-04 11:00 PM Q3 -6.7% -8.4% -6.3%
2021-04-01 11:00 PM Q4 -3.7% -7% -4%
2021-07-26 04:00 PM Q1 -1.3% -4.4% -2.5%
2021-10-01 11:00 AM Q2 7.9% -1.9% 6.3%
2021-12-30 07:00 PM Q3 7.9% 5.7%


News Stream
Costa Rica Growth Rate at Over 13-Year High in Q2
Costa Rica’s GDP surged by 7.9 percent year-on-year in the second quarter of 2021, following an upwardly revised contraction of 1.9 percent in the previous quarter. It was the largest growth recorded since the third quarter of 2007 brought by the easing, to some extent, of pandemic related restrictions. Output rebounded for transportation (30.9 percent vs -14 percent in Q1), restaurants and hotels (49.5 percent vs -40.3 percent), and mining and quarrying (13 percent vs -1.2 percent). Also, manufacturing production accelerated (19.8 percent vs 9.1 percent).
2021-10-01
Costa Rica Economy Contracts at Softer Pace in Q1
Costa Rica’s GDP contracted by 1.3 percent year-on-year in the first quarter of 2021, following a 4.4 percent decline in the previous period, amid the ongoing pandemic crisis. Output contracted at a slower pace for transportation & storage (-19.1 percent vs -25.4 percent in Q4) and hotels & restaurants (-40.4 percent vs -48.9 percent). Also, public administration and compulsory affiliation social security plans output advanced faster (4.5 percent vs 2.0 percent). On the other hand, manufacturing production slowed (6.1 percent vs 6.6 percent).
2021-07-26
Costa Rica Economy Shrinks Less in Q4
Costa Rica’s GDP shrank by 3.7 percent year-on-year in the fourth quarter of 2020, following an upwardly revised 7 percent decline in the previous period, amid the ongoing pandemic crisis. Output contracted at a slower pace for hotels & restaurants (-48-3 percent vs -57.2 percent in Q3); transportation & storage (-24.1 percent vs -30.6 percent); internal trade (-7.8 percent vs -13.6 percent); professional, scientific, administrative & support services (-0.9 percent vs -6.6 percent) and mining (-8.7 percent vs -15.7 percent). On a brighter note, robust growth was observed in manufacturing (8.1 percent vs 3.9 percent).
2021-04-02
Costa Rica Economy Contracts 6.7% in Q3
Costa Rica’s GDP shrank by 6.7 percent year-on-year in the third quarter of 2020, after a record 8.4 percent contraction in the previous period. Output contracted at a softer pace in restaurants & hotels (-56.6 percent vs -57.8 percent in Q2), transport & storage (-32.5 percent vs 32.9 percent), mining & quarrying (-18.9 percent vs -19.8 percent) and wholesale & retail trade (-15.7 percent vs -16.3 percent).
2021-01-04

Costa Rica Last Unit Reference Previous Highest Lowest
GDP Growth Rate 0.50 percent Mar/21 4.00 4.30 -7.80
GDP Annual Growth Rate 7.90 percent Jun/21 -1.90 9.90 -7.00
GDP Constant Prices 9002572.73 CRC Million Jun/21 8799920.22 9053482.79 2590588.34
Gross Fixed Capital Formation 1395115.20 CRC Million Mar/21 1432914.10 1641451.80 343050.40
GDP From Utilities 233607.33 CRC Million Jun/21 221069.04 233607.33 72681.45
GDP From Transport 353034.05 CRC Million Jun/21 311218.41 399355.90 165237.26
GDP From Services 779857.72 CRC Million Jun/21 784529.99 808226.52 324298.75
GDP From Public Administration 366480.53 CRC Million Jun/21 369040.84 372084.30 244914.62
GDP From Mining 26725.55 CRC Million Jun/21 24581.53 27733.83 14999.97
GDP From Manufacturing 1239898.81 CRC Million Jun/21 1152492.66 1239898.81 519628.60
GDP From Construction 357041.71 CRC Million Jun/21 329727.29 442316.28 113381.41
GDP From Agriculture 426593.69 CRC Million Jun/21 404679.23 426593.69 183488.27


Costa Rica GDP Annual Growth Rate
The biggest sector of Costa Rica’s economy is services, which accounts for 63 percent of GDP. Within services the most important segments are: transport, communication and warehousing (16 percent of GDP); trade, restaurants and hotels (15 percent) and community, personal and social services (9 percent). Manufacturing, mining and quarrying create 21 percent of the wealth. Agriculture, forestry and fishing contribute for 9 percent of the output and construction and water and electricity distribution for the remaining 7 percent.