Colombia Economic Outlook
June 12, 2018Colombia is gearing up for the second round of the presidential race to be held on 17 June, in which right-wing candidate Iván Duque will face off left-wing contender Gustavo Petro. Duque, a business-friendly candidate, is still the favorite to clinch the presidency. On the economic front, the recovery from the oil price shock of 2014–2015 is underway. The latest release shows GDP expanded 2.2% year-on-year in the first quarter, an acceleration from the previous quarter. Average growth in both retail sales and industrial production rebounded in Q1. Retail sales picked up throughout the quarter against a steady rise in consumer confidence and low levels of inflation. Exports continued growing at a strong rate in the first quarter, albeit losing some pace from the fourth quarter. Going into Q2, consumer confidence entered positive territory for the first time in over two years in April.
Colombia Economic GrowthThe economy is expected to speed up this year, with growth being buoyed in the medium-term by expansions in oil exploration activities, which should benefit from higher oil prices. That said, reliance on oil exports will leave the economy exposed to the same kinds of external shocks that triggered a slowdown in 2015–2016. Investment in the non-oil sector will therefore be essential to boosting growth. FocusEconomics panelists expect GDP to grow 2.5% in 2018, which is unchanged from last month’s forecast, and 3.0% in 2019.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||6.62||0.0 %||Jun 14|
|Exchange Rate||2,863||-0.17 %||Jun 14|
|Stock Market||12,282||-0.66 %||Jun 14|
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Colombia Economic News
June 5, 2018
According to the National Department of Administrative Statistics (DANE), consumer prices increased 0.25% over the previous month in May, a softer upturn compared to the 0.46% rise in April.
June 1, 2018
The seasonally-adjusted Davivienda manufacturing Purchasing Managers Index (PMI) dropped to 51.1 in May after rising to a 19-month high of 52.1 in April.
June 1, 2018
According to the National Department of Administrative Statistics (DANE), the annual pace of expansion in exports rocketed to 38.5% in April, up from a meagre 1.4% in March.
May 22, 2018
According to the latest GDP data released by the National Statistical Institute (DANE) on 22 May, the economy grew 2.2% in the first quarter, picking up from a revised 1.8% figure in the final quarter of 2017 (previously reported: +1.6% year-on-year).
Colombia: Colombia gears up for presidential election, with center-right candidate the favorite to win
May 14, 2018
Colombia is set to hold the first round of its important presidential election on 27 May.