Colombia

Colombia Economic Outlook

September 16, 2014

In July, industrial production increased 1.6%, which contrasted the 0.5% decline tallied in June, and despite a significant drop, consumer confidence remained in positive territory in August. On 8 September, Finance Minister Mauricio Cardenas announced a tax reform proposal that would provide funds to finance government spending in 2015. The plan is to lower the wealth tax threshold from COP 1.0 billion to COP 750 million and to introduce progressively-higher tax rates in the four brackets above that level. The reform would also extend the 0.4% tax on financial transactions through 2018. The government expects that these measures will raise more than USD 6.0 billion.

Colombia Economic Data

2009 2010 2011 2012 2013
Population (million)45.045.546.146.647.2
GDP per capita (USD)5,2096,3087,2847,9468,023
GDP (USD bn)234.3287.1335.4370.3378.3
Economic Growth (GDP, annual variation in %)1.74.06.64.14.7
Domestic Demand (annual variation in %)0.25.68.64.64.7
Consumption (annual variation in %)1.65.15.54.74.6
Investment (annual variation in %)-1.34.919.04.66.1
Industrial Production (annual variation in %)-4.64.35.0-0.2-1.7
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)33.834.433.231.734.9
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)-2.1-3.0-2.9-3.1-3.3
Current Account Balance (USD bn)-4.9-8.7-9.7-11.6-12.4
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 Yield6.6-0.12 %Sep 19
Exchange Rate1,9720.07 %Sep 19
Stock Market14,180-0.45 %Sep 19

Colombia Economic Growth

September 16, 2014

Panelists forecast economic growth of 4.9% in 2014, which is unchanged from last month’s projection. For 2015, they see economic growth of 4.7%.

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