Saturday, 26 September 2020

Costa Rica’s Economic Activity Remains Low

During January 2019, the Monthly Index of Economic Activity – Indice Mensual de Actividad (IMAE) –  in Costa Rica reported a 1.6% year-on-year increase, which is less than the 3.2% recorded in the same month last year.

With the exception of construction, all economic activities were less dynamic than in January 2018. The Central Bank of Costa Rica (BCCR) reported that agricultural activity and trade showed negative variations.

The report reviews “… The trend series of the Monthly Economic Activity Index presented in January 2019 a 1.6% year on year variation, 1.4 percentage points lower than the same period of the previous year, with an average variation in the last twelve months of 2.5% (3.2% in January 2018).

Although the low growth in production since the end of 2018 is maintained, the available information suggests an interruption of the deceleration process observed since May of the previous year.

- paying the bills -

Agricultural activity decreased 1.2%, because of the negative evolution of the exportable supply of bananas and pineapples. The lower production in the banana activity is explained by the water deficit in the Caribbean area, which affected the quality and quantity of bunches.

Pineapple production was affected by the increase in the world supply of this product, mainly from the Philippines and Thailand, and the consequent drop in international prices, which led to a reduction in the number of hectares cultivated.

Commercial activity contracted by 0.2% (growth of 2.4% in January 2018) as a result of lower sales of consumer durables (electrical appliances and vehicles), possibly affected by uncertainty and consumer pessimism.”

See BCCR report.

- paying the bills -
- paying the bills -
Previous articleAyA Humor
Next articlePescado Frito y Imperial

Related Articles

Banco Scotiabank to cancel credit cards of 20,000 clients to meet interest rate cap

(QCOSTATICA) Scotiabank Costa Rica announced this week it will cancel, over...

Central Bank defines maximum interest rate for credit cards

(QCOSTARICA) The Banco Central de Costa Rica (Central Bank) published early...

MOST READ

Chirripó Park once again welcomes tourists in search of fresh air and cleansing the mind

(QCOSTARICA) Starting in October, the Chirripó National Park will once again receive tourists who await landscapes of starry skies, silent mountain sunrises and fresh...

COVID-19 in Costa Rica: 1,890 cases and 39 deaths in 48 hours

(QCOSTARICA) The Ministry of Health reported on Monday, a total of 1,187 new cases of COVID-19 for Sunday and 703 for Monday, for a...

When will tourists from more US destinations be allowed? This is what the ICR says

(QCOSTARICA) One of the main connection points between Costa Rica and the United States is the state of Florida. However, that state is still...

COVID-19 Costa Rica: 1,338 new cases for Saturday, Sept 19

(QCOSTARICA) The new norm for daily cases is 1000 plus daily and the number of deaths hovering near 20 almost every day. For Saturday, September...

Canadians flying to Costa Rica with Air Canada will have free COVID travel insurance

(QCOSTARICA) As part of its return to international flights, Air Canada will provide free travel insurance to its customers for new bookings made between...

CNE reveals how the money from the traffic fines is used

(QCOSTARICA) Applauded by some and rejected by others, the sanitary vehicle restriction is one of the most controversial measures that emerged as a strategy...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.