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


Current prices CRC trillion




% real change



24.8 4.1 4.0 4.0


©OECD Observer No 308 Q4 2016    

Economic data

GDP growth: -9.8% Q2/Q1 2020 2020
Consumer price inflation: 1.3% Sep 2020 annual
Trade (G20): -17.7% exp, -16.7% imp, Q2/Q1 2020
Unemployment: 7.3% Sep 2020
Last update: 10 Nov 2020

OECD Observer Newsletter

Stay up-to-date with the latest news from the OECD by signing up for our e-newsletter :

Twitter feed

Digital Editions

Don't miss

Most Popular Articles

NOTE: All signed articles in the OECD Observer express the opinions of the authors
and do not necessarily represent the official views of OECD member countries.

All rights reserved. OECD 2020