Costa Rica Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
Costa Rica's real effective exchange rate was 119.07 in 2024, ranked 89th globally. This represents a 3.6% increase from 2023. Data from BIS, covering 1980–2024.
Overview
Costa Rica's real effective exchange rate stood at 119.07 in 2024, a rise of +4.10 from 2023. Based on recent trends, this figure is projected to reach 119.78 by 2025. Costa Rica ranked 89th globally.
Costa Rica’s real effective exchange rate (REER) stood at 119.07 in 2024, placing the country 89th in the global ranking and closely aligned with peers such as Estonia (118.28) and Saudi Arabia (119.66). The REER series, which spans 45 years, began at an all‑time high of 141.11 in 1980 before plunging to a trough of 76.90 the following year, reflecting the volatility of the early 1980s external shock and subsequent policy adjustments. Since that sharp decline, the index has trended upward, driven by a combination of modest appreciation of the colón, relative price stability, and the gradual integration of Costa Rica’s economy into global value chains. The upward trajectory has moderated in recent years, with the 2024 figure still below the 1980 peak yet markedly higher than the 1981 low, indicating a more balanced external competitiveness. Continued fiscal discipline, diversification of export markets, and resilience to commodity price swings will be pivotal in shaping whether the REER maintains its current moderate appreciation or reverts toward earlier levels.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 127.66 | - | - |
| 2026* trend | 123.72 | - | - |
| 2025* trend | 119.78 | - | - |
| 2024 | 119.07 | +4.10 | #89 |
| 2023 | 114.98 | +15.10 | #82 |
| 2022 | 99.88 | +1.88 | #52 |
| 2021 | 98.00 | −9.87 | #46 |
| 2020 | 107.87 | +1.12 | #82 |
| 2019 | 106.75 | +0.63 | #82 |
| 2018 | 106.12 | −2.42 | #80 |
| 2017 | 108.54 | −5.43 | #84 |
| 2016 | 113.97 | −0.79 | #89 |
| 2015 | 114.75 | +8.33 | #91 |
| 2014 | 106.42 | −4.14 | #83 |
| 2013 | 110.57 | +4.38 | #92 |
| 2012 | 106.19 | +4.37 | #87 |
| 2011 | 101.82 | +1.82 | #76 |
| 2010 | 100.00 | +9.72 | #29 |
Detected Pattern
Analysis
Costa Rica matched the Orthodox Tightening Cycle pattern in 1995. Historically, 57% of countries showing this pattern (177 out of 311) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
Costa Rica's real effective exchange rate was 119.07 in 2024. Ranked 89th globally. This represents a 3.6% increase from the previous year.
Costa Rica's real effective exchange rate peaked at 141.11 in 1980.
The lowest real effective exchange rate in Costa Rica was 76.90 in 1981.
Costa Rica ranks 89th globally in real effective exchange rate as of 2024.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
Costa Rica's real effective exchange rate is projected to reach 119.78 by 2025 based on trend extrapolation.
The real effective exchange rate of Costa Rica in 2024 was 119.07. This ranks 89th in the world.
Cite this page
@misc{historysaid_costa-rica_reer,
title = {Costa Rica Real Effective Exchange Rate},
url = {https://historysaid.com/costa-rica/reer/},
publisher = {HistorySaid},
year = {2026}
}