Production reached average growth of 5.4% in 2023


(Archive/CRH).

The evolution of Costa Rica’s production maintained positive figures last year, according to the Monthly Index of Economic Activity (IMAE) for December published this Monday by the Central Bank of Costa Rica (BCCR).

In previous December, it grew year-on-year by 4.4% and was 0.3 percentage points (pp) higher than the figure for the same month of the previous year. However, slowed down by 0.4 pp in relation to the previous month.

With this result, 2023 production reached a average growth of 5.4% with respect to 2022.

According to the BCCR, in December the following factors stood out:

  • He definitive regime maintained the greatest contribution to the growth of the IMAE (64.3%).
  • The expansion at double-digit rates in the productive activity of the special regimesalthough at a slower pace given the notable dynamism of 2022.
  • The moderation in the expansion of the construction with private destination observed from October 2023.

In December last year, around 46.0% of the contribution to production growth of the definitive regime (3.3%) was determined by the trade (21.3%), transportation and storage (14.8%) and manufacturing (10.4%).

Although at moderate rates, transportation services also grew. public administration, the group called “other services” and construction. The final regime reached an increase of 3.5% by 2023.

The production of the special regimes In December it grew 10.4% and in 2023 it increased on average 17.0%.

Manufacturing advanced year-on-year by 12.7% associated with medical implementsand as indicated in other reports, the activities of professional services and IT services grew at a good pace, although they slowed down, given the extraordinary increases in production observed starting in the third quarter of 2022.

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