Gross Domestic Product Per Capita for Costa Rica
PCAGDPCRA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,587.15
Year-over-Year Change
83.54%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) Per Capita for Costa Rica is an important economic indicator that measures the country's economic output per person. It provides insights into the overall standard of living and productivity of the Costa Rican population.
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
GDP per capita is calculated by dividing the country's total GDP by its population. It is a widely used metric to compare the economic performance and development of different countries over time. Economists and policymakers rely on this data to assess a nation's economic health and living standards.
Methodology
The data is collected and calculated by the World Bank based on official government sources.
Historical Context
This metric is often used to evaluate a country's economic progress, guide policy decisions, and benchmark its performance against regional or global peers.
Key Facts
- Costa Rica's GDP per capita was $12,585 in 2021.
- GDP per capita in Costa Rica has grown by 58% over the past 20 years.
- Costa Rica ranks 57th globally in terms of GDP per capita.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per capita for Costa Rica measures the country's total economic output divided by its population, providing an indicator of the average standard of living and productivity.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a crucial metric for evaluating a country's economic development, competitiveness, and progress over time. It allows economists and policymakers to assess the overall prosperity and living standards of the Costa Rican population.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on official government sources and national accounts information.
Q: How is this trend used in economic policy?
A: Governments, international institutions, and analysts use GDP per capita to benchmark Costa Rica's economic performance, guide policy decisions, and compare the country's development to regional and global peers.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of one to two years, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Costa Rica (PCAGDPCRA646NWDB), retrieved from FRED.