Balance of Payments: Services: Expenditure for Costa Rica
CRIB6DBSE01CXCUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,996,490,000.00
Year-over-Year Change
62.34%
Date Range
1/1/1999 - 10/1/2024
Summary
The Balance of Payments: Services: Expenditure for Costa Rica measures the value of services imports, including travel, transportation, and other service categories, by Costa Rican residents. This metric provides insights into the country's service trade balance and overall economic activity.
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 Balance of Payments: Services: Expenditure for Costa Rica is a key indicator of the country's international trade in services. It tracks the total value of services purchased by Costa Rican residents from foreign providers, offering insights into consumer demand, business investment, and the nation's engagement with the global economy.
Methodology
The data is collected and reported by Costa Rica's central bank based on surveys and administrative records.
Historical Context
Policymakers and analysts use this metric to assess Costa Rica's trade competitiveness, current account position, and overall economic performance.
Key Facts
- Costa Rica's services expenditure peaked at $6.4 billion in 2019.
- Services imports account for over 20% of Costa Rica's total imports.
- The COVID-19 pandemic caused a 37% drop in services expenditure in 2020.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Services: Expenditure for Costa Rica measures the total value of services purchased by Costa Rican residents from foreign providers, including travel, transportation, and other service categories.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Costa Rica's service trade balance, consumer demand, and overall economic engagement with the global economy, which is crucial for policymakers and analysts assessing the country's competitiveness and performance.
Q: How is this data collected or calculated?
A: The data is collected and reported by Costa Rica's central bank based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Costa Rica's trade competitiveness, current account position, and overall economic performance, which informs policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the central bank, and there may be occasional delays or revisions due to the nature of international trade data collection.
Related Trends
Amount Outstanding of International Debt Securities for Issuers in Non-Financial Corporations (Corporate Issuers), All Maturities, Residence of Issuer in Costa Rica
IDSNFAMRIAOCR
Producer Prices Index: Economic Activities: Manufacturing: Domestic for Costa Rica
CRIPIEAMP02IXOBQ
Geographical Outreach: Number of Commercial Banks for Costa Rica
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Interest Rates: 3-Month or 90-Day Rates and Yields: Interbank Rates: Total for Costa Rica
CRIIR3TIB01STM
Gross National Income for Costa Rica
MKTGNICRA646NWDB
Inflation, consumer prices for Costa Rica
FPCPITOTLZGCRI
Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Costa Rica (CRIB6DBSE01CXCUQ), retrieved from FRED.