National Accounts: GDP by Expenditure: Constant Prices: Less: Imports of Goods and Services for Costa Rica
CRINAEXKP07STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,942,625,430,000.00
Year-over-Year Change
56.15%
Date Range
1/1/1991 - 7/1/2023
Summary
This economic trend measures the constant-price imports of goods and services for Costa Rica, which is a key component of the country's GDP by expenditure.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The imports of goods and services represent the total value of all goods and services purchased from other countries by Costa Rican residents. This metric is an important indicator of Costa Rica's international trade and integration with the global economy.
Methodology
The data is collected and calculated by the Central Bank of Costa Rica based on national accounts.
Historical Context
This trend is closely watched by policymakers and economists to understand Costa Rica's trade balance and broader economic performance.
Key Facts
- Imports of goods and services account for over 30% of Costa Rica's GDP.
- Costa Rica has run a trade deficit for the past decade as imports have outpaced exports.
- High-tech manufacturing and tourism are major drivers of Costa Rica's imports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the constant-price imports of goods and services for Costa Rica, which is a key component of the country's GDP by expenditure.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of Costa Rica's international trade and integration with the global economy, providing insights into the country's trade balance and broader economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Costa Rica based on national accounts.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers and economists to understand Costa Rica's trade balance and broader economic performance, which informs policy decisions related to trade, exchange rates, and macroeconomic management.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Less: Imports of Goods and Services for Costa Rica (CRINAEXKP07STSAQ), retrieved from FRED.