Optimistic Review By Costa Rican Central Bank

BCCR's second review of the macroeconomic program lowers the projected contraction in real GDP.

Thursday, July 30, 2009

The report points out that the evolution of the Costa Rican economy will continue tied to the global environment. The Central Bank still expects a contraction in the local economy, albeit at a lower pace than forecasted in the first review of the macroeconomic program. According to the monetary authority, evolution of economic indicators hints to a lower contraction in developed economies, so the corresponding lower decrease in the local economy will be a result of better performance from industries related to international commerce.

More on this topic

Costa Rica: Quarterly GDP Up 3.4%

July 2017

In the first quarter of the year, household final consumption and private construction investment accounted for most of the annualized 3.4% increase in GDP.

From a report by the Central Bank of Costa Rica:
 
In the first quarter of 2017, economic activity, measured by the cycle trend of the real Gross Domestic Product (GDP), grew at an annualized rate of 3.4%, mainly reflecting higher final household consumption expenditure and to a lower extent, an increase in investment in private construction, since external demand showed a moderation in its growth.

GDP vs. National Disposable Income

May 2012

In Costa Rica, 7% of GDP is not enjoyed in the country, but it goes abroad as profits of foreign companies.

In 2011, the Gross Domestic Product (GDP) in Costa Rica reached $48.585 billion, but the earnings of the productive activity of foreign firms in the country should be deducted from that amount , which take to their countries of origin $3.4 billion.

Costa Rican GDP Down 2.3%

September 2009

In the second quarter of 2009, the country's Gross Domestic Product dropped 2.3% when compared to the same period of 2008.

The most affected sectors were industry, commerce, restaurants and hotels, and construction.

"GDP fell 2.3% in the second quarter when compared to last year, while it had dropped 0.8% in the first quarter", reported Elfinancierocr.com.

GDP Drop of 2.5% Expected for El Salvador

September 2009

The Government confirmed the reduction of the economy in 2009; GDP variation will be around -2.5% by the end of the year.

The new figure comes after reviewing macroeconomic data, as the initial forecast was -1%.

"For 2010, we had forecasted zero growth, but after the revision, we are expecting positive growth between 0.5% and 1%", said Alex Segovia, head of the Technical Secretary, to newspaper Elsalvador.com.

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