Saturday, 26 September 2020

Slight Improvement in Economic Activity in Costa Rica

After registering a 1.3% year-on-year variation in June, the Indice Mensual de Actividad Economica (IMAE) – Monthly Economic Activity Index – in July reached 1.5%, which is mainly explained by the performance of the special regimes manufacturing sector.

After the first seven months of the year, average growth stood at 1.5%, while the average rate of the last twelve months was 1.8%, both lower than that recorded in the same period last year, reported the Central Bank of Costa Rica (BCCR).

The document notes that “… the speed at which the economy has been slowing year-on-year is the lowest in the last four months. Evolution that matches the behavior of the number of insured registered by the Costa Rican Social Security, which grew 0.1% in July, after decreasing 0.4% in the second quarter of 2019.

Because of their relative importance in the economy (90% participation), the companies of the definitive regime are the ones that explain the deceleration of the general indicator. This group presented a 0.2% growth.

- paying the bills -

The decrease in new commercial and residential buildings, which influenced the lower demand for building materials (cement, glass, earthenware and iron products), freight transport services, engineering and architecture.”

See full report (in Spanish)

- paying the bills -
- paying the bills -
Q Costa Rica
Q Costa Rica
Reports by QCR staff

Related Articles

Do not be alarmed by dollar exchange at ¢600, it is a cyclical behavior

(QCOSTARICA) The behavior of the dollar exchange in recent weeks has...

Sinpe Móvil transfers grow by leaps and bounds in 2020

(QCOSTARICA) Money transfers in Costa Rica through the SINPE Móvil by...

MOST READ

12 years in jail for minor for participating in murder of Karolay Serrano

(QCOSTARICA) The cry for justice for the murder of Karolay Serrano Cordero, 26, was heard Monday afternoon, September 21, in the courts of Heredia,...

COVID-19 was the leading cause of death in hospitals in Costa Rica during August

(QCOSTARICA) Deaths associated with COVID-19 became the leading cause of death in the hospitals in Costa Rica during the month of August. According to data...

COVID-19 Costa Rica: 1,087 new cases for Sept 22; Recovered lags behind 46%

(QCOSTARICA) The Ministry of Health reported 1,087 new cases of COVID-19 for Tuesday, September 22, 2020, bringing the total confirmed cases to 66,689, and...

Why is the ‘Aguila’ on its head? The marketing idea that confused Costa Ricans

(QCOSTARICA) You may or may not have noticed by the 'aguila', the iconic eagle logo of the Imperial beer brand, has been seen with...

Allison Bonilla case: OIJ did not find anything in an alleged grave located by the search team

(QCOSTARICA) An inspection with a dog trained to detect human remains, allowed the Judicial Investigation Agency (OIJ) to rule out finding the remains of...

Costa Rica opens air borders to tourists from Mexico and Jamaica; Ohio added to U.S. list

(QCOSTARICA) Starting October 1, citizens and residents of Mexico, Jamaica and the U.S. state of Ohio are authorized to visit Costa Rica, announced the...

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.