Current Account in Costa Rica

Costa Rica Current Account | Economic News & Forecasts

Costa Rica - Current Account

The economy appeared to find its legs in the second quarter of 2018, after annual growth slowed to an over four-year low in the first quarter. According to activity data released by the Central Bank, the construction sector’s recovery gathered pace through Q2, after it expanded in March for the first time in 11 months. Furthermore, strong readings from both the agriculture sector and the information and communications sector supported the economy in Q2. On a less positive note, on 31 August the finance minister announced a draft 2019 budget for the central government, which contained no increase in nominal expenditures, despite an expected rise in prices. Over 11% of the draft budget is allocated to debt repayments. This austere proposal reflects Costa Rica’s difficult fiscal position: The deficit reached a multi-decade high last year, while, from January to May this year, the accumulated shortfall grew to 2.6% of GDP, a near 0.4 percentage-point rise from the same period last year.

Costa Rica - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-5.4  -5.3  -3.8  -2.8  -3.2  

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Costa Rica Current Account Chart

Costa Rica Current Account
Note: Current account balance as % of GDP.
Source: Costa Rica Central Bank and Met the why particular calculations.

Costa Rica Facts

Exchange Rate577.4-0.57 %Sep 20

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