[REVISION HISTORY]

Costa Rica economic performance and financial sector trends

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2026-10-16 02:50 UTC → 2026-10-26 18:25 UTC · added ~~removed~~

In the first seven months of 2026, Costa Rica’s goods exports grew by 5% to $13.821 billion, led by medical ~~devices. However,~~ devices ($6.399 billion) and agriculture ($2.371 billion). While Asia saw 31% export growth, the nation’s overall economic expansion slowed to 2.5% year-on-year by July 2026, ~~down~~ a significant drop from 5.7% in July ~~2025.~~ 2025, primarily due to a cooldown in special regimes. A persistent divide remains between tax-exempt free trade ~~zones~~ zones, which accounted for 67% of exports and saw 10.9% productivity growth (2016–2021), and the domestic ~~sector, which~~ sector. The latter employs 88.4% of the workforce but ~~saw~~ experienced a 0.1% productivity decline ~~between 2016 and 2021.~~ in the same period. While Foreign Direct Investment (FDI) grew by 23.4% in the first half of 2026 to $2,739.6 million, the domestic sector faces ~~consolidation~~ hurdles. The GEM National Report 2025-2026 noted a rise in early-stage entrepreneurial activity (from 5.1% to 13.9%), but highlighted that 83% of entrepreneurs started ventures due to employment scarcity, and many struggle with profitability and financing. To address ~~this,~~ these challenges, Ricardo ~~Carvajal, director~~ Carvajal of the Ministry of Economy, Industry and ~~Commerce,~~ Commerce stated ~~that~~ the ~~national~~ focus is shifting ~~from merely creating new startups to~~ toward consolidating existing ~~businesses. With approximately 295,000~~ SMEs in the country, efforts aim to improve access to technology, information, and international markets. Although 88 financing sources exist with rates between 2% and 15.6%, a primary challenge is helping businesses identify specific instruments that meet their needs. rather than just creating startups. In the financial sector, ~~major institutions are adopting new strategic models.~~ Banco Nacional (BN) is ~~transitioning its business model to incorporate~~ incorporating Environmental, Social, and Governance (ESG) standards ~~into its operations and product portfolios~~ under SUGEF oversight. Meanwhile, Banco de Costa Rica (BCR) ~~is expanding~~ continues to expand its reach through the Puntos Tucán ~~network, which processed 409 billion colones across 8.4 million transactions in 2025. BCR also reported providing~~ network and has provided 82.88 billion colones in financing ~~and microcredits~~ to support SMEs.

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