Country snapshots 2017-18: Costa Rica

Strong recovery but high unemployment

The economy is projected to continue to expand at a strong pace. Growth will be driven by robust household consumption and increased exports due to stronger demand in the US. Investment will be led by public infrastructure planned in the coming years. Inflation is starting to pick up and will return to the central bank’s target range of 2-4% at the end of 2016. 

Although a strong recovery is under way, unemployment rates remain high, especially for the poor who also suffer from high informality and are increasingly leaving the labour force. Targeted policies are needed to make the labour market more inclusive, especially for women. Improving the quality of education and enhancing the effectiveness of cash transfers would help reduce high poverty.  

GDP growth

2013

Current prices CRC trillion

2016

  

2017

% real change

2018

  

24.8 4.1 4.0 4.0

Visit www.oecd.org/eco/economicoutlook.htm

©OECD Observer No 308 Q4 2016    




Economic data

GDP growth: +0.5% Q2 2019 year-on-year
Consumer price inflation: 1.6% September 2019 annual
Trade: -1.9% exp, -0.9% imp, Q2 2019
Unemployment: 5.1% August 2019
Last update: 6 November 2019

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