Colombia Economic Outlook
February 14, 2017While recent monthly data suggest that the Colombian economy experienced a slight improvement in Q4, 2016 overall is likely to have been its worst year since the financial crisis, dragged down by the collapse in global oil prices. In November and December exports benefited from a recovery in oil prices and grew at double-digit rates. However, in Q3, industrial production growth remained largely stagnant and consumer confidence continued to sink further into pessimistic territory. On 7 February, the government began peace talks with Colombia’s second largest rebel group—the National Liberation Army (ELN). The negotiations come only a few months after the government secured a historic peace agreement with the FARC. If successful, the country could put an end to over five decades of armed conflict, in which thousands were killed and millions were displaced.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||6.93||0.0 %||Feb 24|
|Exchange Rate||2,890||0.68 %||Feb 24|
|Stock Market||9,940||-0.76 %||Feb 24|
Colombia Economic Growth
February 14, 2017GDP growth is likely to accelerate this year, supported by higher global oil prices and loose monetary policy, now that inflation is under control. Analysts expect the economy to grow 2.4% in 2017, which is unchanged from last month’s forecast. For 2018, our panel projects economic growth of 3.1%.
Colombia Economic News
February 17, 2017
In December, industrial production rose 2.2% annually, up from November’s revised 1.8% increase (previously reported: +1.6% year-on-year).
February 15, 2017
The Fedesarrollo consumer sentiment index plunged from December’s minus 10.7 points to minus 30.2 points in January—the lowest reading since the survey began in November 2001.
February 4, 2017
In January, consumer prices rose 1.02% from the previous month.
February 3, 2017
In December, exports grew a massive 32.7% from the same month of the previous year, which followed the 12.6% expansion in November and represented the largest monthly gain since December 2011.
January 27, 2017
The board of the Central Bank (BanRep) decided to keep the lending rate unchanged at 7.50% in a 4-to-3 decision at its 27 January monetary policy meeting, which was the first to be headed by recently appointed Governor Juan José Echavarría.