The economy of Costa Rica advanced 0.8 percent year-on-year in the first quarter of 2020, slowing from a 2.9 percent expansion in the previous period. It was the weakest growth rate since the last quarter of 2009, as output shrank in wholesale & retail trade (-2% vs 0.2% in Q4 2019); restaurants & hotels (-6.8% vs 2.2%); education, health & social security (-2.6% vs 7.7%); and utilities (-0.2% vs 0.8%). In addition, growth slowed in transport & storage (0.7% vs 1.7%); information & communication (5.8% vs 6.5%); professional, administrative and scientific activities (3.6% vs 4.1%); and public administration (0.8% vs 1%). Meanwhile, output rose further in manufacturing (4.8% vs 3.7%); agriculture, forestry & fishing (2% vs 1.2%); and financial activities & insurance (3.5% vs 2.7%). On a seasonally adjusted quarterly basis, the economy shrank 1.6 percent, the most since Q1 2009, after growing 1 percent in the prior period.
GDP Annual Growth Rate in Costa Rica averaged 4.33 percent from 1992 until 2019, 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. 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 July of 2020. source: Central Bank of Costa Rica
GDP Annual Growth Rate in Costa Rica is expected to be -6.00 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 2.50 percent in 2021 and 3.00 percent in 2022, according to our econometric models.