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 9.50 9.68 9.63 9.68 9.8 9.3 percent [+]
Inflation Rate 1.58 1.4 1.5 2 1.7 4 percent [+]
Interest Rate 1.75 1.75 2 2 2.25 2.75 percent [+]
Balance of Trade -385.90 -419 -437 -441 -442 -442 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 551.21 555 560 577 571 659 [+]
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 678405.20 694179 699242 704252 709224 762977 CRC Million [+]
Gross Fixed Capital Formation 133183.20 139266 139405 139086 138639 138224 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 [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 9.50 9.68 9.63 9.68 9.8 9.3 percent [+]
Unemployed Persons 218000.00 221938 221539 222739 223394 224029 [+]
Minimum Wages 4968.51 4969 4969 4969 4969 4969 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 60.00 61.18 60.23 59.03 58.94 59.86 percent [+]
Wages 617092.00 602572 602549 602548 602548 602548 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 [+]
Employed Persons 1972128.00 2008549 1996599 1993430 1986991 1993973 [+]
Employment Rate 54.30 55.45 54.49 53.29 53.32 54.17 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.58 1.4 1.5 2 1.7 4 percent [+]
Consumer Price Index CPI 100.42 100 101 101 101 104 Index Points [+]
Producer Prices 108.30 108 108 108 108 108 Index Points [+]
Inflation Rate Mom -0.42 0 0.04 0.04 0.04 0.04 percent [+]
Food Inflation 0.16 0.07 0.08 0.02 0.05 0.04 percent [+]
Cpi Transportation 96.70 95.53 95.78 95.77 95.76 95.77 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 1.75 1.75 2 2 2.25 2.75 percent [+]
Money Supply M2 9807142.63 9996761 10187794 10377340 10566067 12596837 CRC Million [+]
Foreign Exchange Reserves 7208.80 6863 7814 7243 7867 7582 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 -385.90 -419 -437 -441 -442 -442 USD Million [+]
Exports 969.20 867 881 876 877 877 USD Million [+]
Imports 1355.10 1308 1298 1300 1301 1301 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 663.70 719 735 730 733 732 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 -1634425.60 -913934 -1020938 -1028811 -1007666 -1011558 CRC Million [+]
Government Spending 111391.60 113502 114081 114616 115087 117995 CRC Million [+]
Government Revenues 4564859.10 2165017 2608310 2501886 2433662 2471075 CRC Million [+]
Fiscal Expenditure 6199284.70 3071542 3658049 3532783 3435404 3485189 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 457079.90 469053 472800 476455 480006 513119 CRC Million [+]
Gasoline Prices 1.01 0.97 0.98 0.98 0.98 0.98 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 [+]