In order to contain the advance of the pandemic, during the rest of the month of May, capacity reductions and restrictions to the circulation of vehicles will be applied, measures that will be applied throughout the national territory.
Through a press conference, the Costa Rican Government announced that as of May 13, sanitary measures will be applied, which will be based on the modification of some existing ones.
In March 2021, the Monthly Index of Economic Activity reported a 6.9% increase over the level recorded in the same month of 2020.
The Guatemalan economy continues to show positive signs, as after facing a crisis during 2020 due to the covid-19 outbreak, economic activity has recovered rapidly in the last months of last year and in the first quarter of 2021.
According to the IMF, the local economy is well positioned to support the recovery and overcome the deterioration of social indicators, which worsened due to the pandemic caused by the Covid-19 outbreak.
Strong remittances, pandemic-resilient productive specialization, and unprecedented economic policy support limited economic contraction in 2020, while the outlook for 2021 benefits from additional U.S. fiscal stimulus, the International Monetary Fund (IMF) reported.
After in January 2021 the Monthly Index of Economic Activity in the country registered an year on year increase of 0.7%, in February a lower growth was registered, which amounted to 0.2%.
The activities with the highest growth were: mining and quarrying, 24.5%, commerce, 6.2%, fishing and aquaculture, 5.6%, construction, 2.4%, and manufacturing industry, 2.3%, among others, informed the Central Bank of Nicaragua (BCN).
After in January 2021 in the context of the crisis caused by the pandemic, the Monthly Index of Economic Activity at the national level reported a 6% decrease in year on year terms, in February a smaller drop was registered, amounting to 3.5%.
The drop recorded in February continues to reflect the negative effects of the Covid-19 pandemic and the damage caused by the tropical storms of November 2020, affecting the evolution of most economic activities, mainly in "... Agriculture, Livestock, Forestry and Fishing; Manufacturing Industry; Transportation and Storage; Hotels and Restaurants; Commerce; and Private Construction; these contractions have been partially offset by the boost in the services of Mail and Telecommunications and Financial Intermediation", informed the Central Bank of Honduras (BCH).
As from April 19, the curfew nationwide will be from 12:00 midnight to 4:00 a.m. the following day, the opening of bars with outdoor terraces and the holding of sports activities with the public will be allowed.
As from next Monday, April 19, the public will be allowed to attend outdoor sports activities with a 25% capacity and without liquor sales, informed the Ministry of Health.
During February 2021, economic activity fell 4.7% in year-on-year terms, a drop that evidences that the economic crisis caused by the covid-19 outbreak continues to affect Costa Rica.
According to the Central Bank of Costa Rica (BCCR), as per the cycle trend series of the Monthly Index of Economic Activity (IMAE), the inter-annual variation of production reached its lowest point in June 2020, at which point it began a gradual recovery process.
The World Bank predicts that by the end of this year Panama and the Dominican Republic will be the economies of the region that will grow the most, and the countries that will report the lowest increases in their production will be Costa Rica and Nicaragua.
After the region's economies were considerably affected in 2020 by the sanitary crisis generated by the Covid-19 outbreak, the outlook of international organizations for 2021 is encouraging.
In January of this year, the Monthly Index of Economic Activity reported a 15% year-on-year drop, which is similar to the behavior recorded from March to December 2020, a period in which the pandemic severely affected productive activities.
This index contracted considerably, due to the effects of the Covid-19 health emergency. Among the economic sectors that were affected were: Hotels and restaurants, other community, social and personal service activities, construction, commerce, financial intermediation, manufacturing industries, electricity and water, real estate, business and rental activities, and transportation, storage and communications, among others, according to the Comptroller General's Office of the Republic.
During 2020 in all countries of the region, construction activity decreased considerably and Central American cement imports stagnated, this adverse scenario is explained by the economic crisis generated by the pandemic.
The construction industry statistics system, which is part of the interactive platform "Construction in Central America" of CentralAmericaData's Business Intelligence area, compiles the most important industry data for each of the countries in the region.
During January of this year, production in Costa Rica decreased 4.8% in year-on-year terms, a decline that is explained by the economic crisis resulting from the pandemic caused by the outbreak of covid-19.
In January 2021, the production of manufacturing and computer services grew 1.9% and 0.7%, respectively, in year-on-year terms. In contrast, the rest of the economic activities showed drops in their level of activity in relation to January 2020, states a report by the Central Bank of Costa Rica (BCCR).
The construction sector forecasts that in 2021 investments will increase by 2.1% with respect to what was reported in 2020, a rise that would be explained by the execution of public infrastructure projects.
According to the Economic Report prepared by the Costa Rican Chamber of Construction, the growth of the construction activity will be boosted in 2021 by the recovery of public works.
Twelve months after Central America began a health and economic crisis triggered by the covid-19 outbreak, Guatemala was the fastest recovering economy and Panamanian economic activity is the slowest to return to pre-pandemic levels.
In March 2020, the first cases of covid-19 began to be detected in the countries of the region. The highly contagious disease, which at that time had already claimed the lives of thousands of people around the world, forced Central American governments to establish mobility restrictions.
During January of this year, the Monthly Index of Economic Activity reported a 3.2% increase compared to the level reported in the same month of 2020.
The Guatemalan economy continues to show positive signs, since after facing a crisis during 2020 due to the covid-19 outbreak, economic activity has recovered quickly in recent months.
The drop in production is explained by the performance of activities that were affected by the emergence of the covid-19 pandemic in March 2020, a situation that lasted for the rest of the year.
The Gross Domestic Product (GDP) valued at constant 2007 prices registered, according to calculations of the National Institute of Statistics and Census (INEC), an amount of $35,308.7 million, which corresponded to a decrease of $7,724.1 million, according to an official report.
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