Colombia Economic Outlook
March 17, 2015While Colombia is expected to have recorded strong economic growth last year, the low crude price took its toll on the oil-driven economy and contributed to slowing growth over the course of 2014. Colombia has continued to lose steam since the beginning of this year. Exports recorded an unprecedented contraction in January and the peso depreciated to yet another multi-year low in March. The drop in oil revenues prompted the government to cut the 2015 budget by 3% in February; cutbacks will mainly affect infrastructure and administrative spending. On the political front, the government and the FARC guerillas are making progress toward a peace deal; both parties reached an agreement to remove landmines and the government pledged to temporarily stop bombing the rebels.
Colombia Economic Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
|Bond Yield||6.97||-1.28 %||Mar 31|
|Exchange Rate||2,600||0.93 %||Mar 31|
|Stock Market||9,999||0.73 %||Mar 31|
Colombia Economic Growth
March 17, 2015Colombia’s growth prospects continue to moderate, reflecting the adverse impact of the low crude price on the economy. LatinFocus Consensus Forecast panelists expect the economy to grow 3.5% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel also projects economic growth of 3.5%.
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Colombia Economic News
March 24, 2015
In Q4 2014, GDP grew 3.5% over the same quarter of the previous year, which came in below the 4.2% increase registered in Q3 and represented the slowest pace of growth since March 2013.
March 17, 2015
In Q4 2014, GDP grew 3.5% over the same quarter of the previous year, which came in below the 4.2% increase registered in Q3 and represented the slowest pace of growth since Q1 2013.
March 13, 2015
The Fedesarrollo consumer sentiment index decreased from 17.9 points in January to 14.0 points in February, marking the lowest result since August 2013.
March 13, 2015
In January, industrial production shrank 2.5% over the same month of the previous year.
March 12, 2015
The Colombian peso (COP) depreciated against the U.S. dollar in March, continuing the trend that has remained in place since July of last year.