Colombia

Colombia Economic Outlook

July 15, 2014

Recent indicators paint a rosy picture of the economy. In the first quarter, GDP grew a strong 6.4% over the previous quarter, which marked both an improvement over the 5.3% expansion recorded in the fourth quarter and the quickest pace of growth in over two years. The acceleration was driven by improving domestic demand, particularly private consumption and investment. Exports tallied a 2.9% expansion in May, which contrasted April’s 13.1% contraction. Consumer confidence rose from May’s 23.2 points to 26.6 points in June.

Colombia Economic Data

2009 2010 2011 2012 2013
Population (million)45.045.546.146.647.2
GDP per capita (USD)5,2096,3087,2847,9468,017
GDP (USD bn)234.3287.1335.4370.3378.0
Economic Growth (GDP, annual variation in %)1.74.06.64.14.3
Domestic Demand (annual variation in %)0.25.68.64.64.9
Consumption (annual variation in %)1.65.15.54.74.8
Investment (annual variation in %)-1.34.919.04.65.7
Industrial Production (annual variation in %)-4.64.35.0-0.2-1.8
Retail Sales (annual variation in %)-0.18.17.84.14.7
Unemployment Rate12.011.810.810.49.7
Fiscal Balance (% of GDP)-3.8-3.5-2.0-1.9-2.2
Public Debt (% of GDP)33.834.433.231.7-  
Money (annual variation in %)5.410.218.916.514.7
Inflation Rate (CPI, annual variation in %, eop)2.03.23.72.41.9
Inflation Rate (CPI, annual variation in %)4.22.33.43.22.0
Inflation (PPI, annual variation in %)-2.24.45.5-3.0-0.5
Policy Interest Rate (%)3.503.004.754.253.25
Stock Market (annual variation in %)53.533.6-18.316.2-11.2
Exchange Rate (vs USD)2,0431,9201,9391,7671,930
Exchange Rate (vs USD, aop)2,1541,8981,8481,7971,869
Current Account (% of GDP)-2.2-3.1-2.9-3.2-3.4
Current Account Balance (USD bn)-5.1-8.9-9.9-11.8-12.7
Trade Balance (USD billion)0.0-0.82.71.0-0.6
Exports (USD billion)32.939.756.960.158.8
Imports (USD billion)32.940.554.259.159.4
Exports (annual variation in %)-12.720.943.35.6-2.2
Imports (annual variation in %)-17.123.134.09.00.5
International Reserves (USD)25.428.532.337.543.6
External Debt (% of GDP)22.922.522.521.324.3

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5 years of Colombia economic forecasts for more than 30 economic indicators.

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Colombia Facts

Value Change Date
Bond Yield6.60.36 %Jul 18
Exchange Rate1,869-0.34 %Jul 18
Stock Market13,9440.29 %Jul 18

Colombia Economic Growth

July 15, 2014

LatinFocus Consensus Forecast panelists forecast economic growth of 4.9% in 2014, which is up 0.3 percentage points from last month’s forecast. For 2015, the panel sees economic growth at 4.6%.

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