Costa Rica Economy Records a 4 Percent Increase

A report by Navtej Kohli – Costa Rica economy grows by 4 percent this September.

The Costa Rican economy grew nearly 4.13 percent in September, as compared to the same month last year, says the Central Bank’s Monthly index of Economic Activity (IMAE). The index, which is designed to gauge the monthly fluctuations in economic sectors, reports that the economy has marked an average 4 percent growth in five of the last 6 months and has not shown a negative growth figure since July 2009.

Navtej Kohli Costa Rica resident says that the growth in economy has reflected on the business ventures as well. In September, the economic growth was pushed by a 16 percent increase in investment in the national service sector, including back office operations and call centers. Other sectors like transportation, storage and communications sectors also grew by 7.3 percent as compared to September last year. Trade, construction, and industrial sectors also showed a positive growth.

The recent arrival of América Móvil and Telefónica to the Costa Rican telecommunications market, as well as the continued arrival of foreign investment, is expected to bolster economic activity during the final seven weeks of the year

Furthermore, the economy is expected to boost further in the next seven weeks, following the addition of América Móvil and Telefónica to the Costa Rican telecommunications industry, besides the continued arrival of foreign investment.

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