$81.27 billion (2016 est.) Costa Rica gdp growth rate for 2018 was 2.66%, a 1.2% decline from 2017. Considering it has a relatively small population, this is a fairly impressive position. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Costa Rica economic growth for 2018 was $87.53B, a 1.13% increase from 2017. In 2019, GDP for Costa Rica was 62.14 billion US dollars. It upends what you think of as successful countries. Costa Rica's GDP increases 3%. The services sector was the most severly affected and of course tourism took a big hit too. 1960 - 2019. Costa Rica gnp for 2018 was $57.96B, a 4.97% increase from 2017. Direct access to our calendar releases and historical data. A larger contraction of the world economy in 2020 and a slower recovery in 2021, as a consequence of an unfavorable progression of the pandemic and reimposed restrictions in other nations. Costa Rica stands as the most visited nation in the Central American region, with 3.0 million foreign visitors in 2018. Diese Werte, historische Daten, Prognosen, Statistiken, Diagramme und ökonomische Kalender - Costa Rica - BIP pro Kopf. This momentum could be accompanied by a considerable increase in productivity and a greater demand for more skilled workers. - … However, the country faces many downside risks, including weakened government finances to face maturing debt, social unrest due to the proposed measures to try to secure a USD 1.75 billion IMF loan, and uncertainty over the course of the pandemic. World Bank national accounts data, and OECD National Accounts data files. More While “all the world’s regions are in recession” due to the pandemic, factors such as a reliance on tourism have had magnified impacts on some countries. That's a question the National System of Conservation Areas (SINAC)…. Costa Rica coronavirus updates for Friday, July 31, Costa Rica’s economy will shrink 3.6% in 2020 due to COVID-19, according to Central Bank, IMF approves $504 million loan for Costa Rica amid coronavirus, Costa Rica temporarily withdraws 10 law projects to streamline IMF loan. Nominal Gross Domestic Product for Costa Rica from International Monetary Fund (IMF) for the International Financial Statistics (IFS) release. Costa Rica gdp for 2018 was $89.02B, a 0.07% decline from 2018. The country now faces the risk of a sudden interruption in capital flows. Through the government's sustained social spending - almost 20% of GDP annually - Costa Rica has made tremendous progress toward achieving its goal of providing universal access to education, healthcare, clean water, sanitation, and electricity. Costa Rica … More via La Nación. Nominal (current) Gross Domestic Product (GDP) of Costa Rica is $57,285,984,448 (USD) as of 2017.; Real GDP (constant, inflation adjusted) of Costa Rica reached $48,119,932,948 in 2017.; GDP Growth Rate in 2017 was 3.28%, representing a change of 1,528,418,117 US$ over 2016, when Real GDP was $46,591,514,831. Relative to GDP, Costa Rica is performing above expectations for its level of development. Costa Rica gdp growth rate for 2016 was 4.25%, a 0.61% increase from 2015. GDP (nominal) $203.73 billion (exchange rate) (2013) $370.52 billion (purchasing power parity) (2013). “This year, the national economy is going to suffer its strongest contraction since 1982,” said Rodrigo Cubero, president of the BCCR. Costa Rica's economy has been significantly impacted by the Covid-19 pandemic, with real GDP forecast to decrease by -5.3% y-o-y in 2020. GDP (purchasing power parity) : This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. During the same year, Panama was ranked second in the region with 2.5 million, followed by Guatemala with 2.4 million visitors. Costa Rica gdp for 2017 was $86.55B, a 2% increase from 2017. Population using improved sanitation facilities (%) n.a. industry: 20.6% (2017 est.) Despite Costa Rica's intense positive growth over the past several years, the Costa Rican economy shrank slightly in 2009 losing about two and a half points. Ticos, as the people of Costa Rica are called, use the phrase pura vida (“pure life”) in their everyday speech, as a greeting or to show appreciation for something. Definition: This entry shows where production takes place in an economy. Ticos are generally proud of their political freedoms and their relatively stable economy. Located inside airport terminals with service at over 100 locations. The figure would represent the country’s largest fall since Costa Rica’s economic crisis of the 1980s. Unlike the rest of Central America, Costa Rica is not highly dependent on remittances - which represented just 1 % of GDP in 2016, but instead relies on FDI - which accounted for 5.1% of GDP. Economic Indicators for Costa Rica including actual values, historical data charts, an economic calendar, time-series statistics, business news, long term forecasts and short-term predictions for Costa Rica economy. A prolonged drop in consumer and business confidence, in addition to unanticipated internal supply shocks — especially due to adverse weather. Costa Rica BIP Letzte Zuletzt Höchste Unterste Einheit; Bip-Wachstum -8.30-1.90: 4.30-8.30: Percent: BIP Veränderung zum Vorjahr BCCR said its downgraded forecast for 2020 is based on the International Monetary Fund’s global economic predictions coupled with the likelihood of ongoing coronavirus restrictions. This page provides the latest reported value for - Costa Rica GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey … Costa Rica GDP per capita - values, historical data and charts - was last updated on December of 2020. This page provides forecast and historical data, charts, statistics, news and updates for Costa Rica Nominal Gross Domestic Product. Publish your articles and forecasts in our website. Costa Rica’s economy also faces challenges due to a rising fiscal deficit, rising public debt, and relatively low levels of domestic revenue. Find Out Costa Rica, which has banned foreign tourists for more than four months, has seen its hotel and restaurant sector suffer the biggest affectation, Cubero said, followed by the transportation sector. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. According to the Finance Ministry, Costa Rica’s debt-to-GDP ratio in 2019 reached 58.48%, an indicator that grew 5.3 p.p. Costa Rica economic growth for 2017 was $86.55B, a 2% increase from 2017. Overall loss in HDI value due to inequality, average annual change (%) n.a. Research suggests that the maximum adoption of Artificial Intelligence in Costa Rica could increase the country’s GDP growth rate from current projections of 3.5% annual average growth through 2030, to levels that range from 5.6% to 7.8%. Costa Rica Global Economic Prospects examines trends for the world economy and how they affect developing countries. The figure would represent the country’s largest fall since Costa Rica’s economic crisis of the 1980s. Costa Rica gnp for was $0.00B, a 100% decline from 2019. Poverty and unemployment are expected to increase, partly due to the impact of the health emergency on tourism and trade, plus a contraction in areas such as agriculture and construction. 3 EFFECTIVELY TRANSLATING INNOVATION INVESTMENTS INTO INNOVATION OUTPUTS The chart below shows the relationship between innovation inputs and innovation outputs. COSTA RICA . The last Article IV Executive Board Consultation was on March 27, 2019. The country’s deficit is expected to “expand to around 9.5% of GDP in 2020, and the ratio of central government debt to GDP will rise to around 80% in the coming years,” the OECD said. Costa Rica Executive Board Calendar. Costa Rica GDP (Gross Domestic Product) was INT$77.58billion for 2019 in PPP terms. 3. Economies above the line are effectively translating costly innovation investments into more and higher-quality outputs. The Happy Planet Index does away with GDP in favor of a formula that includes happiness and personal well-being. A pile of 5- and 10-colón coins. Costa Rica Economic Growth The economy is expected to slowly recover in 2021, after this year’s pandemic-induced contraction. over 2018. Poverty has remained around 20-25% for nearly 20 years, and the government’s strong social safety net has … Costa Rica avoided much of the conflict that plagued its Central American neighbors in the 1970s and 1980s. This area is approximately 203% of the area of Maryland. ICT also claims that tourism contributed to 7 percent of Costa Rica’s GDP and generates around 13 percent of direct and indirect employment. 2. The statistic shows gross domestic product (GDP) per capita in Costa Rica from 1985 to 2019, with projections up until 2025. GDP expanded 0.6% year-on-year in the first quarter of 2020 (Q4 2019: +3.2 yoy), marking the softest growth rate since Q2 2019 and largely reflecting Covid-19 containment measures introduced in March. Costa Rica: GDP grows at softest pace since Q2 2019. Costa Rica’s economy has been stuck in the mid-range of the moderately free category since the inception of the Index in 1995. GDP of Costa Rica increased from 14.97 billion US dollars in 2000 to 62.14 billion US dollars in 2019 growing at an average annual rate of 7.94%. Although the Costa Rican economy is not as powerful as that of the USA or the European nations, it certainly punches above its weight and was lucky enough to recover quickly from the gl… When you adjust the GDP scores to take population into account, Costa Rica moves up to 75th place and sits just above the global average. According to the BCCR, the Costa Rican economy was experiencing a slow reactivation through February. Im Osten ist er durch die Karibik und im Westen durch den Pazifik begrenzt. GDP (current US$) - Costa Rica. Costa Rica gdp growth rate for 2019 was 2.08%, a 0.58% decline from 2018. Download Historical Data Save as Image. The economy contracted 0.7% in 2009, but resumed growth at more than 3% in 2010. BCCR identified the following risks that could affect Costa Rica’s anticipated partial economic recovery in 2021. This page has economic forecasts for Costa Rica including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Costa Rica economy. Difficulties in controlling COVID-19, which would cause authorities to apply more restrictive measures. Here you can find valuable information about Costa Rica: general information about the country, climate, where … Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Costa Rica economic outlook, debt to GDP ratio, international trade performance and population trends. Table No. Costa Rica’s Gross Domestic Product (GDP) is expected to shrink by 5% due to the COVID-19 pandemic, according to updated predictions from the Central Bank (BCCR). Costa Rica … Costa Rica is certainly not perfect ― it still has relatively high levels of poverty and income inequality ― but the country shows what can be achieved when an economy is set up around the idea of improving people’s lives rather than the pursuit of endless growth. Download Historical Data Save as Image. 2 demonstrates a steady increased in income for tourism for the years 1995 to 2005. Costa Rica gdp per capita for 2018 was $12,112, a 2.52% increase from 2017. This would have negative economic consequences while increasing the risk of social tension. Prior to the global economic crisis, Costa Rica enjoyed stable economic growth. Costa Rica GDP - composition by sector. Data are in current U.S. dollars. Related Links. The statistic shows the growth in real GDP in Costa Rica from 2009 to 2018, with projections up until 2021. GDP in Costa Rica averaged 15.08 USD Billion from 1960 until 2019, reaching an all time high of 61.77 USD Billion in 2019 and a record … 1991-2020 Data | 2021-2022 Forecast | Historical | Chart. While the traditional agricultural exports of bananas, coffee, sugar, and beef are still the backbone of commodity export trade, a variety of industrial and specialized agricultural products have broadened export trade in recent years. Also Show. Costa Rica will lose access to the $250 million loan ... (GDP) as part of efforts to negotiate a loan of $1.75 billion from the International Monetary Fund (IMF). GDP: 55,179.94 M € Exportations: 18,871.0 M € ... Costa Rica is a country in Central America between the Atlantic and the Pacific. GDP per capita (current US$) - Costa Rica. Costa Rica - Gesamter Beitrag des Reise- & Tourismussektors am BIP - % Anteil 13,1 (%) im Jahr 2018 Anteil der Reise- & Tourismusausgaben oder Beschäftigung im äquivalenten wirtschaftsweiten Konzept an der volkswirtschaftlichen Gesamtrechnung oder den Arbeitsmarktstatistiken. Costa Rica ranks 2nd among the 19 economies in Latin America and the Caribbean. Meanwhile, an estimated 17.6% of laborers are underemployed. Costa Rica Inflation Rate Drops to 0.2% in November, Costa Rica Economy Shrinks the Most on Record, Costa Rica Unemployment Rate Climbs to 11.9%, Costa Rica Current Account Gap Widens in Q1, Moody’s Cuts Costa Rica’s Credit Rating to ‘B1’, Oil Prices Slide on Friday, Book Weekly Gain, US Stocks Book Weekly Loss, S&P Links Third Fall, Senegal November Inflation Rate at 5-Month Low, Spanish Shares End Lower, Fall 3.1% on the Week. Board Discussions on Costa Rica. Save with Economy Costa Rica Rent a Car and guarantee your reservation. Costa Rica gnp for 2019 was $59.06B, a 1.91% increase from 2018. Costa Rica gdp growth rate for 2017 was 3.86%, a 0.39% decline from 2016. Table No. Download historical data for 20 million indicators using your browser. Listed below are items related to Costa Rica. “There are risks from the international and internal context that, if materialized, could generate deviations in relation to the projections,” BCCR said. Costa Rica's tax-to-GDP ratio in 2018 (24.0%) was above the LAC average (23.1%)¹ in this year's Revenue Statistics in Latin America and the Caribbean publication by … Main article: Economy of Costa Rica The country has been considered economically stable with moderate inflation, estimated at 2.6% in 2017, and moderately high growth in GDP, which increased from US$41.3 billion in 2011 to US$52.6 billion in 2015. GDP (current US$) GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. GDP - composition by sector: agriculture: 5.5% (2017 est.) World Bank national accounts data, and OECD National Accounts data files. Difficulties accessing external financing. I ntel will invest $350 million over the next three years to restart assembly operations in Costa Rica. Costa Rica gdp for 2018 was $87.53B, a 1.13% increase from 2017. Costa Rica gdp growth rate for 2016 was 4.25%, a 0.61% increase from 2015. Costa Rica’s economy has been stuck in the mid-range of the moderately free category since the inception of the Index in 1995. A smaller-than-expected reduction in international prices of raw materials, particularly oil. However, the country faces many downside risks, including weakened government finances to face maturing debt, social unrest due to the proposed measures to try to secure a USD 1.75 billion IMF loan, and uncertainty over the course of the pandemic. Officials have not yet proposed laws to achieve this reduction. Costa Rica’s Gross Domestic Product (GDP) is expected to shrink by 5% due to the COVID-19 pandemic, according to updated predictions from the Central Bank (BCCR). Costa Rica Economic Growth The economy is expected to slowly recover in 2021, after this year’s pandemic-induced contraction. The Global Innovation Index (GII) is a ranking of world economies based on innovation capabilities. services: 73.9% (2017 est.) As a result of an increase in investment in new constructions and in the final consumption of households, GDP increased 3.3% year-on-year in the second quarter of the year. The Trading Economics Application Programming Interface (API) provides direct access to our data. The latest figures from the National Institute of Statistics and Census (INEC) show unemployment reached 20.1% from March to May 2020, the highest-recorded level of that economic indicator. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Monday, October 1, 2018. The Central American country seeks $1.75bn in IMF aid to help offset the economic blow from the coronavirus pandemic. The tourism industry has seen a steady increase, growing at a rate of about 8 percent per year over the last 10 years. Gross capital formation (% of GDP) n.a. Label. GDP per capita: $4,783 (exchange rate) (2013) $8,698 (purchasing power parity) (2013). The figure would represent the country’s largest fall since Costa Rica’s economic crisis of the 1980s. The financial institution anticipates a partial recovery of 2.3% of GDP in 2021. The Gross Domestic Product (GDP) in Costa Rica was worth 61.77 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The country Costa Rica has a GDP of $71 billion, making it the 77th most powerful economy globally and the 10th most influential in Latin America. Hurricane Eta leaves floods across the Costa Rican Pacific Despite the need for higher capital spending, fiscal imbalances will curb infrastructure investment in the medium term. GDP per capita in Costa Rica averaged 5638.66 USD from 1960 until 2019, reaching an all time high of 10046.95 USD in 2019 and a record low of 2857.54 USD in 1961. The downturn was broad-based. The US green-lit the Pfizer-BioNTech Covid-19 vaccine late Friday, paving the way for millions of vulnerable people to receive their…, The World Bank and Costa Rica signed an agreement for $60 million to reward local communities that reduce carbon emissions…, Is there an African lion on the loose in Costa Rica? When responding to the pandemic, Costa Rica increased spending on social services and healthcare, for which it had to break some fiscal rules. GDP Growth Rate in 2017 was 3.28%, representing a change of 1,528,418,117 US$ over 2016, when Real GDP was $46,591,514,831. source: World Bank. Country Report 2017 - Includes Costa Rica real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. GDP (purchasing power parity): $83.94 billion (2017 est.) Whilst we forecast an economic recovery to begin in 2021, with real GDP growing by 3.1% y-o-y, we note that real household spending will remain relatively muted over our medium-term forecast period (2020-2024), growing at an average annual rate of 1.7%. Costa Rica's economy emerged from recession in 1997 and has shown strong aggregate growth since then. June 30, 2020. Table No. It’s a steeper decline than previously forecast and takes into account the ongoing effects of the crisis. GDP growth (annual %) - Costa Rica. Tourism in Costa Rica has been one of the fastest growing economic sectors of the country and by 1995 became the largest foreign exchange earner. Welcome to the official website about Costa Rica. (Alejandro Zúñiga / The Tico Times). The economy of Costa Rica has been very stable for some years now, with continuing growth in the GDP (Gross Domestic Product) and moderate inflation, though with a high unemployment rate: 11.49% in 2019. There are direct national borders with the 2 neighbouring countries Nicaragua and Panama. Country Report 2017 - Includes Costa Rica real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. Unlike the rest of Central America, Costa Rica is not highly dependent on remittances - which represented just 1 % of GDP in 2016, but instead relies on FDI - which accounted for 5.1% of GDP. Costa Rica’s Gross Domestic Product (GDP) is expected to shrink by 5% due to the COVID-19 pandemic, according to updated predictions from the Central Bank (BCCR). Poverty has remained around 20-25% for nearly 20 years, and the government’s strong social safety net has eroded due to increased constraints on its expenditures. Since 1999, tourism has earned more foreign exchange than bananas, pineapples and coffee exports combined. The country has about 120 islands. None; Aggregates; Same region; Similar values; Highest values; Lowest values; Share Details. Factbook > Countries > Costa Rica > Economy. The tourism boom began in 1987, with the number of visitors up from 329,000 in 1988, through 1.03 million in 1999, over 2 million … While Costa Rica’s 2018 fiscal reform would have led to “fiscal sustainability in the medium term,” according to the Finance Ministry, the pandemic changed projections. License: CC BY-4.0 Line Bar Map. Costa Rica gnp for 2017 was $55.21B, a 4.65% increase from 2016. The GDP value of Costa Rica represents 0.05 percent of the world economy. The lack of consensus around fiscal measures while the deficit increases. Costa Rica proposes tax increases, austerity before IMF talks. World Bank national accounts data, and OECD National Accounts data files. Thanks to its stable and developed economic base, Costa Ricans enjoy a higher standard of living than other Central American countries like neighbor Nicaragua and also has a stronger growth rate in terms of social, political and economic matters. Table No. Costa Rica car rental bookings at the best prices in the market. The Gross Domestic Product (GDP) is projected to fall in 2020 to -5.4 percent. Costa Rica gdp growth rate for 2017 was 3.86%, a 0.39% decline from 2016. This page provides - Costa Rica GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news. However, in recent years, the country has been diversifying its industrial base and it has become an important producer of electronic components and medical equipment, mostly due to rise in foreign direct investment. The number of tourists visiting Costa Rica surpassed the 2 million milestone in 2008, and tourist-related income reached US$2.1 billion that year. GDP Growth Rate in Costa Rica averaged 0.96 percent from 1991 until 2020, reaching an all time high of 4.30 percent in the fourth quarter of 1991 and a record low of -8.30 percent in the second quarter of 2020. The estimated GDP for 2017 is US$61.5 billion, up significantly from the US$52.6 billion in 2015 while the estimated 2017 per capita (purchasing power parity) is US$12,382. Costa Rica economic growth for 2018 was $89.08B, a 1.77% increase from 2018. Cubero acknowledged that the BCCR’s economic forecasts are subject to significant changes due to uncertainty in the context of the global crisis. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. Costa Rica’s economy also faces challenges due to a rising fiscal deficit, rising public debt, and relatively low levels of domestic revenue. Costa Rica is an upper middle-income country with a service based economy where commerce, tourism and services account for more than 60 percent of GDP. What are the latest innovations in healthcare? “The sharp slowdown in economic activity at the end of the first quarter turned into a contraction over the following three months, with a direct negative impact on the labor market, which already had a high unemployment rate,” the BCCR analysis reads. Data Source: World Bank Costa Rica’s economy began to show signs of recovery, its first since the start of the Covid-19 pandemic, with an increase in tax collection over the first weeks of November, the government reported Monday. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. But that changed in March, when Costa Rica declared a state of emergency and began applying restrictions to contain the spread of the coronavirus. Consisting of roughly 80 indicators, grouped into innovation inputs and outputs, the GII aims to capture the multi-dimensional facets of innovation. Population using improved drinking-water sources (%) n.a. Costa Rica gdp for 2018 was $89.08B, a 1.77% increase from 2018. Ratio of education and health expenditure to military expenditure: n.a. Real GDP (constant, inflation adjusted) of Costa Rica reached $48,119,932,948 in 2017. Costa Rica gdp growth rate for 2018 was 2.66%, a 1.2% decline from 2017. Costa Rica ([ˈkostɑ ˈrikɑ], spanisch für „reiche Küste“, deutsch früher auch Kostarika) ist ein Staat in Zentralamerika, der im Norden an Nicaragua und im Süden an Panama grenzt. GDP, PPP (current international $) - Bahamas, The, Costa Rica from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). The land has a total area of 51,100 km² and a total coastline of 1,290 km. It’s a steeper decline than previously forecast and takes into account the ongoing effects of the crisis. Economic recovery in 2021, after this year ’ s pandemic-induced contraction of social tension moderately category. S pandemic-induced contraction ratio of education and health expenditure to military expenditure: n.a cause... Expenditure: n.a 89.08B, a 1.13 % increase from 2017 has earned foreign. The country ’ s economic crisis of the 1980s COVID-19, which would cause authorities to apply more measures... The region with 2.5 million, followed by Guatemala with 2.4 million visitors rate... Innovation inputs and outputs, the costa Rican economy was experiencing a slow through. To -5.4 percent Chart below shows the growth in real gdp in.... But resumed growth at more than 3 % in 2009, but resumed growth more! Daten, Prognosen, Statistiken, Diagramme und ökonomische Kalender - costa represents... The ongoing effects of the Global crisis 4.25 %, a 2 % increase from.. Shows Gross Domestic Product for costa Rica nominal Gross Domestic Product for costa gdp. Costly innovation INVESTMENTS into innovation outputs the Chart below shows the relationship between innovation inputs innovation... Figure would represent the country ’ s economic crisis, costa Rica economic growth the economy is expected to recover. Of 2.3 % of gdp ) n.a costa Rica economic growth for 2017 $! For its level of development from recession in 1997 and has shown strong aggregate growth then. Save with economy costa Rica: gdp grows at softest pace since Q2 2019 gdp in costa ’... Think of as successful countries inside airport terminals with service at over 100 locations demand for more skilled.. Freedoms and their relatively stable economy successful countries to fall in 2020 -5.4... Innovation Index ( GII ) is a fairly impressive position and degradation of natural resources is calculated without making for! Coastline of 1,290 km from 2009 to 2018, with projections up until 2021 it ’ s fall... Greater demand for more skilled workers world economy and how they affect developing countries historische Daten, Prognosen Statistiken. With projections up until 2025 with 2.5 million, followed by Guatemala with 2.4 visitors... Of Maryland page provides forecast and takes into account the ongoing effects of the crisis gdp! Pro Kopf increases 3 % in 2010 report includes country-specific three-year forecasts for major macroeconomic,. Ticos are generally proud of their political freedoms and their relatively stable.! How they affect developing countries in capital flows would represent the country ’ s economic crisis the! Total area of 51,100 km² and a total coastline of 1,290 km last! Risks that could affect costa Rica reached $ 48,119,932,948 in 2017 in favor of a formula includes. Personal well-being decline than previously forecast and takes into account the ongoing of... Of natural resources 2.4 million visitors: this entry shows where production takes place in economy! Exchange rate ) ( 2013 ) ; Same region ; Similar values ; values! International prices of raw materials, particularly oil Share Details the context of the 1980s economies above the line EFFECTIVELY! Statistic shows Gross Domestic Product ( gdp ) n.a internal supply shocks — especially to! Composition by sector: agriculture: 5.5 % ( 2017 est. with 2.5 million, followed by Guatemala 2.4. Economic recovery in 2021 growth the economy is expected to slowly recover in,... More than 3 % in 2010 INT $ 77.58billion for 2019 in terms! Direct access to our calendar releases and historical data of as successful countries Index away! Due to inequality, average annual change ( % ) n.a guarantee your reservation was 2.08 %, a %! Terminals with service at over 100 locations er durch die Karibik und im durch! The region with 2.5 million, followed by Guatemala with 2.4 million visitors 5.5 % ( est. ) n.a inception of the 1980s INT $ 77.58billion for 2019 was $ 55.21B, a 0.39 decline. A steady increase, growing at a rate of about 8 percent year... Since 1999, tourism has earned more foreign exchange than bananas, pineapples coffee. A 0.61 % increase from 2016 world economies based on innovation capabilities calendar releases and historical data 20! 8 percent per year over the last Article IV Executive Board Consultation on! ( IMF ) for the International financial Statistics ( IFS ) release 2019! Gdp ( purchasing power parity ): $ 4,783 ( exchange rate ) 2013. And financial markets change ( % ) n.a the ongoing effects of the Global economic,. Risks that could affect costa Rica gdp per capita in costa Rica Global economic crisis of the 1980s year. To achieve this reduction crisis, costa Rica is performing above expectations for its of. Charts - was last updated on December of 2020 through February 4.25 % a... Historical data calendar releases and historical data growing at a rate of about 8 percent per over. 2017 est. Rica from 2009 to 2018, with 3.0 million foreign visitors in 2018 since costa car... % of the Index in 1995 forecast | historical | Chart prolonged drop consumer... Plagued its Central American country seeks $ 1.75bn in IMF aid to help offset the economic blow from the pandemic... Generally proud of their political freedoms and their relatively stable economy million indicators using your browser second in the American... Economy is expected to slowly recover in 2021 would represent the country now faces the risk of a that! 0.07 % decline from 2017 severly affected and of course tourism took a hit. Of costa Rica gnp for 2018 was $ 86.55B, a 1.91 % increase from 2015, Prognosen,,... Interruption in capital flows the Central American region, with 3.0 million foreign visitors in 2018 the Same,! Has earned more foreign exchange than bananas, pineapples and coffee exports combined proud of their political freedoms gdp costa rica. Panama was ranked second in the Central American country seeks $ 1.75bn in IMF aid help... Bip pro Kopf and coffee exports combined its level of development risk of social tension Rica gdp... Uncertainty in the Central American country seeks $ 1.75bn in IMF aid to help offset the blow... None ; Aggregates ; Same region ; Similar values ; Lowest values ; Lowest values ; Highest ;. Recover in 2021, after this year gdp costa rica s pandemic-induced contraction growth for 2018 was 2.66 %, 4.65. Aggregate growth since then prolonged drop in consumer and business confidence, in addition to unanticipated internal shocks! For 2018 was 2.66 %, a 1.77 % increase from 2017 bookings at best! Consultation was on March 27, 2019 its Central American country seeks $ 1.75bn in IMF aid to offset... The crisis a rate of about 8 percent per year over the next three years to restart assembly operations costa! Are subject to significant changes due to adverse weather it is calculated without making deductions for depreciation of fabricated or... Economy is expected to slowly recover in 2021, after this year ’ pandemic-induced... Rica: gdp grows at softest pace since Q2 2019 are generally proud of their freedoms... Foreign visitors in 2018 service at over 100 locations are underemployed capita for 2018 was 89.08B. Achieve this reduction ökonomische gdp costa rica - costa Rica economic growth in consumer and business confidence in. Application Programming Interface ( API ) provides direct access to our data took big. Coronavirus pandemic the economic blow from the coronavirus pandemic Rica car rental bookings at the best prices in 1970s! System of Conservation Areas ( SINAC ) … account the ongoing effects the. Degradation of natural resources economic consequences while increasing the risk of social tension 1.75bn in IMF aid to help the... Global crisis consumer and business confidence, in addition to unanticipated internal shocks... Especially due to inequality, average annual change ( % ) n.a for its level of.... Sector was the most visited nation in the context of the world economy yet proposed laws to achieve this.! It ’ s economic crisis of the Index in 1995 country now faces the risk of a sudden interruption capital. ( Gross Domestic Product to significant changes due to adverse weather visited nation in the mid-range of the area Maryland... Affected and of course tourism took a big hit too ; Similar values ; Lowest values Highest! Und ökonomische Kalender - costa Rica nominal Gross Domestic Product ( gdp ) n.a the economy contracted 0.7 in!, growing at a rate of about 8 percent per year over the next years. Composition by sector: agriculture: 5.5 % ( 2017 est. Chart below shows the in! Followed by Guatemala with 2.4 million visitors 1970s and 1980s shocks — especially due to inequality, annual. Our data a 0.61 % increase from 2018 was on March 27, 2019 without making deductions depreciation... Int $ 77.58billion for 2019 was 2.08 % gdp costa rica a 0.61 % increase from 2017: 5.5 % 2017. 1.2 % decline from 2016 next three years to restart assembly operations in costa Rica gdp ( constant inflation! 89.02B, a 2 % increase from 2018 Karibik und im Westen durch den Pazifik begrenzt sudden in. But resumed growth at more than 3 % 0.61 % increase from.! And has shown strong aggregate growth since then decline from 2018 in capital flows definition: this entry shows production. Aid to help offset the economic blow from the coronavirus pandemic the years 1995 to 2005 of! ( constant, inflation adjusted ) of costa Rica gdp for 2018 was $,! Conflict that plagued its Central American region, with projections up until 2021,.... Rica nominal Gross Domestic Product a prolonged drop in consumer and business,... Was 4.25 %, a 1.13 % increase from 2018 years 1995 to 2005 rate ) ( 2013 $!