Costa Rica: Economic Activity Grows 2.5%

During October 2019, a 2.5% year-on-year variation was reported in the IMAE, a rise that is explained by the behavior of manufacturing activity and the service sector.

Monday, December 16, 2019

According to the report of the Central Bank of Costa Rica (BCCR), with the rise reported in the tenth month of the year, the Monthly Index of Economic Activity (IMAE) showed signs of recovery for the fifth consecutive month.

The BCCR report explains that "... It should be noted that agriculture continues with the recovery process begun in August, while trade registered positive variations for the first time this year. These industries join the productive activities that drive the recovery of economic activity, including education and health services, as well as business services and the manufacture of special regimes.

For its contribution to production growth, the best performance of education and health services was highlighted, which increased 10.0% with respect to the same month of the previous year. This result is mainly influenced by the base effect of the strike of public sector employees that occurred in the last 4 months of 2018.

Secondly, the growth of manufacturing activity (3.0%3) was highlighted, because of the production of medical implements and food products by companies located under special regimes. This was attenuated by the reduction in the production of the companies of the definitive regime due to the contraction in the manufacture of products linked to the construction industry (iron, steel and cement).
"

See full document (in Spanish).

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More on this topic

Costa Rican Economy: Signs of Recovery

November 2019

For the authorities of the Central Bank, the economy begins to show signs of recovery, because for four consecutive months the economic activity has registered a positive performance.

In June of this year, the Monthly Economic Activity Index (IMAE) began to show signs of recovery, recording a 1.2% year-on-year increase. In July and August, positive variations continued, with 1.4% and 1.7% increases reported, respectively.

Economic Activity Keeps Accelerating

November 2019

After year-on-year variations of 1.4% and 1.6%, respectively, will be reported in Costa Rica in July and August, in September the IMAE grew 2%, again explained by the performance of the special regimes manufacturing sector.

The growth of the Monthly Economic Activity Index (IMAE) in August was driven by the production of special regimes (free zone and active perfecting), which grew at a 12% year-on-year rate, according to information from the Central Bank of Costa Rica.

Economic Activity Grows Slowly

October 2019

After recording a 1.4% year-on-year variation in July, in August the IMAE varied by 1.6%, again explained by the performance of the special regimes manufacturing sector.

The growth of the Monthly Economic Activity Index (IMAE) in August was driven by the production of special regimes (free zone and active perfecting), which grew at a 12.6% year-on-year rate, informed the Central Bank of Costa Rica.

Costa Rica: Economic Activity Up 3.5%

February 2018

The good performance of the construction sector at the end of the year explained the acceleration registered in economic activity up to December 2017.

From a report by the Central Bank of Costa Rica:

The country's production of goods and services, as measured by the cycle trend series of the Monthly Economic Activity Index (IMAE), registered an interannual and average variation of 3.5% and 3.1%, respectively, in December 2017. [GRAFICA caption = "Click to interact with graph"]

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