Colombia Economic Outlook
April 19, 2016On the surface, recent indicators do not give a clear picture of Colombia’s economic panorama. In February, industrial production index growth reached a nearly-two-year high and the unemployment rate fell by almost two percentage points. Industrial production has shown strong gains in recent months as the newly-upgraded Cartagena refinery is ramping up operations. Tarnishing these positive developments is the sharp decrease in consumer confidence in the beginning of the year. Consumers are seeing inflation picking up as scarce food supply in the wake of one of the worst droughts on record is pushing up food prices. In addition, a weakening peso is exerting upside pressure on prices of imported goods. At the same time, the security situation in the country is becoming increasingly tenuous as the government missed its deadline to sign a peace deal with long-standing rebel groups FARC and ELN.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Bond Yield||8.12||-0.49 %||Apr 28|
|Exchange Rate||2,875||-2.00 %||Apr 28|
|Stock Market||10,083||-0.04 %||Apr 28|
Colombia Economic Growth
April 19, 2016The Central Bank’s measures to slow inflation and curb the expanding current account deficit will drag on growth in 2016. The unpredictable effects of El Niño and the back-and-forth movement toward an OPEC-led oil production freeze are increasing the uncertainty of Colombia’s outlook. Analysts expect the economy to grow 2.4% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel projects economic growth of 3.0%.
Colombia Economic News
April 18, 2016
The Colombian peso (COP) had been appreciating steadily since February as it followed a rally in oil prices ahead of a 17 April meeting of OPEC and non-OPEC countries in Doha.
April 14, 2016
The Fedesarrollo consumer sentiment index ticked up from February’s minus 21.0 points to minus 20.1 points in March.
April 5, 2016
In March, consumer prices rose 0.94% over the previous month, which was a smaller increase compared to the 1.28% rise registered in February and beat market expectations of a 0.68% increase.
April 5, 2016
In February, exports shrank 26.7% over the same month last year, which was a less severe contraction than January’s 36.6% drop.
March 18, 2016
At its 18 March monetary policy meeting, the Central Bank (BanRep) decided to step up its tightening cycle by increasing the policy interest rate by 25 basis points to 6.50%.