Economic activity in Costa Rica showed signs of recovery in 2002 after two straight years in which momentum flagged considerably. Gross domestic product grew by 2.6%, boosted by the expansion of domestic demand and an upsurge in exports after two years of decline. Per capita GDP grew by 0.6%, after having shrunk by 0.5% and 0.9% in 2000 and 2001, respectively. At the same time, per capita national income rose for the second year in a row (0.7%) as a result of the less drastic deterioration in the terms of trade and the sharp reduction in profit remittances by foreign firms. The recovery has been gathering strength in 2003 and output is expected to grow by over 4%.

Related Subject(s): Economic and Social Development
Countries: Costa Rica
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