Colombia Economic Outlook
October 13, 2015
The Colombian economy accelerated annually in Q2 thanks to a partial recovery in the external sector. However, a stream of negative data through Q3 suggest that the economy has been losing momentum. In August, exports shrank to a new record low and consumer confidence dipped into negative territory, reaching its lowest value since April 2009. Nevertheless, the Colombian peso regained some ground through September and the first half of October after hitting a multi-year low against the U.S. dollar at the end of August. Meanwhile, on 24 September, Colombian President Juan Manuel Santos and FARC leader Rodrigo Londoño signed a historical deal which sets up a common ground for negotiating on issues of justice and reparations. The two parties committed to reaching a final peace agreement within six months.Colombia Economic Data
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Colombia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 7.78 | -0.26 % | Oct 21 |
| Exchange Rate | 2,961 | 0.80 % | Oct 21 |
| Stock Market | 9,455 | -0.18 % | Oct 21 |
Colombia Economic Growth
October 13, 2015
Despite the efforts of the government and an extensive stimulus plan to counter the adverse commodity shock, low oil prices will dampen exports and drag on growth this year. Panelists participating in the LatinFocus Consensus Forecast expect the economy to grow 2.9% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel projects economic growth of 2.9% as well.Colombia Economic News
Colombia: Colombian peso recovers partially from August’s multi-year low in September
October 7, 2015
The Colombian peso (COP) has been depreciating rapidly since the second half of May 2015.
Colombia: Exports contract at steepest rate on record in August
October 6, 2015
In August, exports shrank 41.6% over the same month last year, coming in below July’s 40.5% drop and marking a new multi-year low.
Colombia: Inflation increases in September
October 6, 2015
In September, consumer prices rose 0.72% over the previous month, which came in above the 0.48% price increase registered in August.
Colombia: Central Bank increases the reference rate for the first time in over a year
September 25, 2015
In a unanimous decision, the seven members of the Central Bank (BanRep) Board decided to increase the reference interest rate by 25 basis points from 4.50% to 4.75% at the Bank’s 25 September monetary policy meeting.
Colombia: GDP growth accelerates in Q2 on positive impulse from external sector
September 23, 2015
GDP grew 3.0% over the same quarter of the previous year in Q2, which came in above the 2.8% increase registered in Q1.
