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Colombia Economic Activity April 2023

Colombia: Economic activity records largest drop in over two years in April

Economic activity decreased 0.8% compared to the same month of the previous year in April, which contrasted March’s 1.5% increase. The figure marked the worst reading since February 2021. The notable deterioration was largely due to contractions in the agriculture and industrial sectors, and a slowdown in the services sector.

On a monthly basis, economic activity decreased 1.0% in seasonally adjusted terms in April, contrasting March’s 0.3% expansion. Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 4.8% in April, down from March’s 5.7%.

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