Colombia Economic Outlook
July 14, 2015According to data, the Colombian economy grew 2.8% in Q1 2015. The reading was a deceleration from Q4’s 3.5% expansion and marked the lowest growth rate since Q3 2012. The economy has been significantly affected by low oil prices, which has led to major falls in exports every month since October 2014. In May, exports recorded another sharp contraction and the Colombian peso weakened to a multi-year low against the U.S. dollar in the beginning of July. Meanwhile, the conflict between the government and the FARC has intensified since the latter lifted its unilateral ceasefire in April. The south of the country has been the scene of various attacks targeting vital infrastructure such as roadways, power networks and crude oil pipelines. These actions have put the peace talks that were ongoing for almost two years in limbo. However, the FARC’s chief negotiator announced on 8 July a one-month unilateral ceasefire coming into force on 20 July to try to give a new start to negotiations.
Colombia Economic Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
|Bond Yield||7.12||-0.28 %||Jul 29|
|Exchange Rate||2,850||-0.44 %||Jul 29|
|Stock Market||10,091||2.10 %||Jul 29|
Colombia Economic Growth
July 14, 2015Despite the government’s extensive stimulus package to support the economy, subdued exports due to low oil prices will refrain the economy from growing as much as in previous years. LatinFocus panelists expect the economy to grow 3.2% in 2015, which is unchanged from last month’s projection. For 2016, the panel projects economic growth of 3.2% as well.
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Colombia Economic News
July 17, 2015
In May, industrial production contracted 3.9% over the same month of the previous year, which was a steeper contraction than the 3.3% drop recorded in April and largely undershot market expectations of a softer 1.9% decline.
July 15, 2015
The Fedesarrollo consumer sentiment index improved in June, increasing from 13.7 points in May to 14.7 points.
July 13, 2015
In June, consumer prices rose 0.10% over the previous month, which came in below the 0.26% price increase registered in May.
July 7, 2015
In May, exports shrank 38.9% over the same month last year, coming in below April’s 25.6% drop and marking a four-month low.
July 7, 2015
The Colombian peso (COP) has been depreciating rapidly since the second half of May 2015 and hit a multi-year low of 2,693 COP per USD on 7 July.