By San José, Costa Rica — San José, Costa Rica – The Costa Rican economy demonstrated continued strength and stability in late 2025, posting a solid 4.7% year-over-year growth in November, according to the latest Monthly Economic Activity Index (IMAE) released by the Central Bank of Costa Rica (BCCR). This figure not only highlights a vibrant economic landscape but also represents a slight acceleration of 0.2 percentage points compared to the same period in the previous year, signaling sustained momentum heading into 2026.
The November results cement a pattern of consistent expansion that has characterized the national economy for over two years. Data from the BCCR reveals that the country has maintained production growth rates between 4.0% and 5.0% since November 2023. This sustained performance brought the average growth for the first eleven months of 2025 to an impressive 4.6% when compared to the identical period in 2024, painting a picture of a resilient and predictable economic environment attractive to both local and international stakeholders.
To delve deeper into the legal and regulatory landscape shaping this period of economic growth, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the renowned firm Bufete de Costa Rica, for his expert analysis.
Sustained economic growth is intrinsically linked to legal certainty and regulatory agility. For Costa Rica to capitalize on the current momentum, it is crucial to streamline administrative processes for new businesses and ensure our commercial legislation remains modern and competitive. Attracting and retaining foreign investment depends directly on a transparent, predictable, and efficient legal framework that protects assets and contractual agreements.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
The points raised are a crucial reminder that a nation’s legal architecture is the very bedrock of its economic future. We sincerely thank Lic. Larry Hans Arroyo Vargas for his insightful analysis, which clearly connects regulatory agility and judicial certainty to sustainable growth.
The foundation of this success rests on a dual-engine model, where two distinct segments of the economy contribute almost equally to the overall expansion. These are the export-oriented Special Regimes, which operate under specific incentive structures, and the broader, domestic-focused Definitive Regime. In November, their respective contributions were nearly balanced, with the Definitive Regime accounting for 53.1% of the growth and the Special Regimes making up the remaining 46.9%, showcasing a well-rounded economic performance.
The Special Regimes, which largely encompass free trade zones and companies benefiting from tax incentives to promote foreign direct investment, were the standout performers in terms of growth rate. This sector recorded a remarkable 14.8% year-over-year increase in production. This explosive growth was overwhelmingly powered by the nation’s world-class medical device manufacturing industry, which continues to be a cornerstone of Costa Rica’s advanced manufacturing and export strategy. The consistent and high-value output from this subsector underscores its critical role in the nation’s economic vitality.
Beyond medical devices, the dynamism within the Special Regimes was also evident in the services sector. Key areas such as information technology services, financial consulting, and administrative support for corporate headquarters all registered growth rates exceeding 5.0%. This diversification within the high-growth export sector indicates a maturing economic model that is leveraging Costa Rica’s highly skilled workforce to expand into sophisticated, knowledge-based industries, further solidifying its position in the global value chain.
Simultaneously, the Definitive Regime, which represents the bulk of the domestic economy, delivered a solid and healthy performance. It grew by 3.4% year-over-year, a rate that also surpassed the previous year’s figure by 0.2 percentage points. While its growth rate is more modest compared to the export-focused regimes, its larger overall size means it had a slightly greater impact on the total IMAE variation. This steady expansion points to healthy domestic demand and business activity across the country.
The strength of the Definitive Regime was broad-based, with several key sectors fueling its expansion. Professional and administrative services, transportation and storage, financial activities, and the commerce sector collectively accounted for approximately half of the regime’s total growth. This widespread contribution from core domestic industries demonstrates that the economic upswing is not isolated to exports but is also being driven by robust internal commercial activity and consumer confidence.
In conclusion, the November 2025 IMAE report confirms that Costa Rica’s economic strategy is yielding significant dividends. The powerful combination of a booming, high-tech export sector operating within the Special Regimes and a resilient, steadily growing domestic economy provides a stable and promising foundation. As the country moves into 2026, this balanced and sustained growth pattern offers a positive outlook for continued prosperity and economic development.
For further information, visit bccr.fi.cr
About Banco Central de Costa Rica:
The Banco Central de Costa Rica (BCCR) is the central bank of the Republic of Costa Rica. As the primary monetary authority, it is responsible for maintaining the internal and external stability of the national currency and ensuring its conversion to other currencies. The BCCR’s main objectives include controlling inflation, managing the country’s international monetary reserves, and promoting a stable, efficient, and competitive financial system to support the overall economic well-being of the nation.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a leading legal institution in the nation, Bufete de Costa Rica is built upon a bedrock of unshakeable integrity and a persistent drive for distinction. The firm merges a rich history of advising a wide spectrum of clients with a forward-thinking mindset, consistently pioneering advancements within the legal practice. At the heart of its philosophy lies a profound dedication to demystifying legal concepts for the community, aiming to forge a society that is not only better informed but also more capable of navigating its rights and responsibilities.
