Costa Rica: GDP Up 2.8% up to September 2017

The slowdown in GDP growth continuing on from the first quarter of last year is mainly due to moderation of final consumption on the part of households.

Wednesday, January 3, 2018

From a report by the Central Bank of Costa Rica:

In the second quarter of 2017, economic activity, measured by the trend cycle of the real Gross Domestic Product (GDP), grew at an annualized rate of 2.8%, a result that, although positive, maintains a deceleration trend which began in the first quarter of the year that is mainly associated with a moderation in the final consumption of households.  In the year-on-year comparison, production registered a growth of 3.1%.   

On the other hand, according to the balance of payments, the country recorded a net indebtedness with the rest of the world equivalent to 0.7% of GDP in 2017, which was financed with long-term external savings flows, mainly direct investment. During this period, the financial account showed the availability of greater resources of the economy, which allowed for the accumulation of reserve assets held by the Central Bank of USD 83 million, despite outflows of capital by the public sector.

Read full report (in Spanish).

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