Economics Index of Economic Activity Central Bank of Costa Rica Index Measurement of Economic Activity economy slowdown economic slowdown Arnoldo André Costa Rica Chamber of Commerce Costa Rican Chamber of Industries Economic outlook Economics Stats Elvira Campos Financial Services Inflation National Chamber of Agriculture and Agribusiness (Costa Rica)

Costa Rica's Economy Losing Strength

Industry, trade and agriculture, which together make up half the country's GDP, are showing signs of slow-down, which in turn will impact growth targets for 2011 and 2012.

Tuesday, November 1, 2011

Costa Rica's economic activity indicator for August displayed an increase of 4.2% for trade, lower than in previous months. Since last May, Industry growth has been stagnant at 3.5% relative to 2010, while the agricultural sector has started to fall.

An article in Nacion.com reports that, "the growth of these three sectors explain, to a large extent, the slowdown in economic activity in general, which has led the country's Central Bank (BCCR) to predict that neither this year or next will the growth targets of 4.5% and 4.7% be met".

Representatives of the Costa Rican chambers of industry, commerce and agriculture have signaled that some of the main causes of the poor growth are the international economy, the exchange rate and the uncertainty surrounding the planned tax reforms.

Source: Nacion.com

Key entities

Pedro Morales Central Bank of Costa Rica Costa Rican Chamber of Industries National Chamber of Agriculture and Agribusiness (Costa Rica) Arnoldo André Costa Rica Chamber of Commerce

Countries

Costa Rica

Insight

Index Measurement of Economic Activity economic slowdown economy slowdown economic crisis Index of Economic Activity Economics

Industry and Trade Expected Better Growth in 2011

December 2011

The industry and commerce sectors in Costa Rica are reporting moderate growth at the end of the year.

The Costa Rican Chamber of Industries had projected growth of between 3.5% and 4%, but recent economic data (IMAE) which showed a slowdown in the economy, have changed the projection to only 2% growth, said Martha Castillo, vice President of the Chamber.

Costa Rica: Economic Slowdown Continues

August 2010

The Monthly Index of Economic Activity (IMAE) shows growth of 2.96% to June, the fourth consecutive month in which year-on-year growth has slowed.

From the maximum year-on-year rate of 6.09% reached in February, the pace of Costa Rica's growth has slipped by around 51.4% to 2.96% in June, completing a somewhat bleak quarter.

Economy slows down in Costa Rica

October 2008

The growth of the Costa Rica economy slowed in August to 3% in relation to the same period in 2007.

The Monthly Index of Economic Activity (IMAE), which measures the total production of goods and services, shows that the economy of Costa Rica continues to grow, but at a rhythm below the 8% with which it began the year, the Central Bank indicated.

Costa Rica: Inflation Not Caused by Growth

November 2010

The variation of IMAE in September was 3.08%, highlighting the slowdown trend observed since February.

February was the month which recorded the highest figure of the year: 6.30%.

However, this indicator has been declining significantly and is converging to the values observed (3.08%) since June of this year, indicating a significant stabilization.

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