Colombia

Colombia Economic Outlook

October 14, 2014

Recent indicators suggest that the economy remains solid but has entered a less exuberant phase. In Q2, GDP slowed down from Q1’s 6.5% expansion to a 4.3% increase. Exports shrank in August and the Colombian peso weakened in September. The USD 109 billion 2015 budget draft was approved by the congressional economic committee, but it still needs to be accepted by the House of Representatives and the Senate. The government refrained from its plan to increase the budget and sent a tax bill to Congress that aims to cover a financing hole over the course of the next four years by extending existing taxes and introducing a new tax on corporate profits.

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 Yield6.6-1.16 %Oct 23
Exchange Rate2,0570.19 %Oct 23
Stock Market13,3010.84 %Oct 23

Colombia Economic Growth

October 14, 2014

LatinFocus Consensus Forecast panelists project economic growth of 4.9% in 2014, which is unchanged from last month’s projection. For 2015, the panel sees economic growth of 4.6%.

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