Costa Rica GDP Annual Growth Rate

Last Release

Mar 31, 2024

Actual

4.6

Units In

5.3

Frequency

Quarterly

Next Release

Dec 31, 2024

Time to Release

3 Months 1 Days 18 Hours

Highest	Lowest	Average	Date Range	Source
10.29 Sep 2021	-7.16 Jun 2020	4.26 %	1992-2024	Central Bank of Costa Rica

The biggest sector of Costa Rica’s economy is services, which accounts for 63 percent of GDP. Within services the most important segments are: transport, communication and warehousing (16 percent of GDP); trade, restaurants and hotels (15 percent) and community, personal and social services (9 percent). Manufacturing, mining and quarrying create 21 percent of the wealth. Agriculture, forestry and fishing contribute for 9 percent of the output and construction and water and electricity distribution for the remaining 7 percent.

Latest Updates

Costa Rica’s GDP grew by 4.2% year-on-year in the second quarter of 2024, slowing from the downwardly revised 4.6% expansion in the preceding quarter. Growth accelerated in transportation & storage (8% vs. 7.3% in Q1), information & communication (6.5% vs. 5.1%), public administration (0.8% vs. 0.5%), and professional, scientific, technical, administrative activities & support services (6.3% vs. 6.1%). Conversely, production slowed in agriculture, forestry & fishing (1.1% vs. 4.1%), construction (2.6% vs. 3.4%), mining & quarrying (3.3% vs. 6.1%), and wholesale & retail trade (4.8% vs. 5.1%), while electricity, water & sanitation services contracted (-0.3% vs. 0.1%). On a seasonally adjusted quarterly basis, the economy grew by 0.91%, down from 0.78% in the previous period.