The economy of Costa Rica grew 1.9 percent year-on-year in the fourth quarter of 2018, following a revised 2.4 percent expansion in the previous three-month period, as growth slowed for agriculture (0.8 percent vs 1.6 percent in Q3), construction (6.5 percent vs 7.4 percent), trade (0.9 percent vs 1.5 percent) and information and communication (5.2 percent vs 6.6 percent), while education and health output continued to contract (-3.3 percent vs -0.5 percent). By contrast, growth accelerated for manufacturing (2.2 percent vs 2.1 percent); financial and insurance activities (5.8 percent vs 4.2 percent) and business services (4.2 percent vs 4 percent). On the expenditure side of the accounts, a slowdown was seen in private consumption (1.6 percent vs 2 percent) and fixed investment (2.2 percent vs 2.9 percent), while public spending fell further (-3.2 percent vs -0.3 percent). GDP Annual Growth Rate in Costa Rica averaged 4.39 percent from 1992 until 2018, reaching an all time high of 10.20 percent in the third quarter of 1992 and a record low of -2.40 percent in the first quarter of 2009.
GDP Annual Growth Rate in Costa Rica is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Costa Rica to stand at 2.50 in 12 months time. In the long-term, the Costa Rica GDP Annual Growth Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.