Costa Rica GDP Annual Growth Rate

Last Release

Dec 31, 2023

Actual

5.3

Units In

5.6

Frequency

Quarterly

Next Release

Sep 28, 2024

Time to Release

2 Months 29 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
10.29 Sep 2021	-7.16 Jun 2020	4.26 %	1992-2023	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 4.9% year-on-year in the first quarter of 2024, matching the downwardly revised 4.9% expansion in the preceding quarter. Growth accelerated in mining & quarrying (10.4% vs. 9.7% in Q4 2023) and electricity, water & sanitation services (1.2% vs. 0.5%), while rebounding in public administration (0.2% vs. -0.1%). However, production slowed in agriculture, forestry & fishing (2.8% vs. 3.1%), construction (0.2% vs. 10.4%), professional, scientific, technical, administrative activities & support services (7.8% vs. 8.7%), wholesale & retail trade (4.7% vs. 5%), transportation & storage (4% vs. 6.4%), and information & communication (2.7% vs. 3.3%). On a seasonally adjusted quarterly basis, the economy grew by 0.78%, down from 1.8% in the previous period.