Costa Rica's 2024 Purchasing Power Parity (PPP) PDB

The International Monetary Fund (IMF) recorded Costa Rica's Purchasing Power Parity (PPP) GDP in 2024 at 308.56 units. This represents a decrease compared to the previous year's 315.87 units. This decline continues a downward trend observed since 2022.

Over the past three years (2022-2024), Costa Rica's PPP GDP has shown a decline. In 2022 it was recorded at 327.52 units, falling to 315.87 units in 2023, and 308.56 units in 2024. Annual GDP growth shows contraction: -0.79% (2022), -3.56% (2023), and -2.31% (2024).

The unit values presented in this article are the result of IMF calculations of Costa Rica's nominal GDP in national currency against the international dollar. In its publication, the IMF states that this calculation is used for the purpose of compiling a composite group of countries. The resulting data is not presented as the primary source for Purchasing Power Parity (PPP) data.

Compared to the average of the last three years, Costa Rica's current PPP GDP shows a decline. The average PPP GDP from 2022 to 2024 is approximately 323.98 units. This is lower than the average of the last five years.

The highest increase in the data period occurred in 2017 with a value of 340.99 units. The lowest decrease occurred in 2024 with a value of 308.56 units. Anomalies occurred in 2019 and 2020. In 2019, Costa Rica's PPP GDP experienced a significant decrease of 4.05%, followed by a relatively small recovery of 1.17% in 2020.

Regionally, the IMF notes that Costa Rica remains ranked first in Central America in terms of PPP GDP. However, it should be noted that this dominance occurs under conditions of economic contraction.

The IMF also provides projections for Costa Rica's future PPP GDP. Projections show a gradual recovery, with a projected figure of 309.45 units for 2025 and a continued increase to 328.502 units by 2030. Nevertheless, the projected growth rate is relatively moderate, with annual growth ranging from 0.29% to 1.33%. This recovery has not yet restored PPP GDP levels to those seen before 2022.

Compared to other Central American countries, Costa Rica's PPP GDP growth is below that of Nicaragua (4.78%) and Honduras (2.57%). While Costa Rica ranks first in terms of PPP GDP value, its economic growth is slower than some neighboring countries.