Colombia GDP


Colombia: Economic growth slows in the third quarter

December 23, 2010

In the third quarter, GDP added 3.6% over the same quarter last year. The reading represented a deceleration over the 4.4% expansion recorded in the second quarter (previously reported: +4.5% year-on-year) and fell short of last month's LatinFocus Consensus Forecast, which had seen the economy growing 4.8%. Despite the third quarter deceleration, the economy has now recovered from the slowdown experienced in 2009. The deceleration in the third quarter was mostly driven by domestic demand. Total consumption grew 4.2% year-on-year in the third quarter (Q2: +4.1% yoy) while gross fixed investment inched down from a 2.9% expansion in the second quarter to 2.7%. On the other hand, the net contribution from the external sector to overall growth improved slightly over the second quarter. Exports accelerated from 2.1% in the second quarter to a 5.4% expansion in the third. Meanwhile, imports expanded 20.3% year-on-year in the third quarter, up from the 19.1% growth tallied in the previous quarter. As a result, the overall contribution from the external sector inched up from a 3.6 percentage point detraction in the second quarter to minus 3.4 percentage points in the third. At the sector level, the deceleration was led by a decline in agriculture, which contracted 0.9% in the third quarter (Q2: +0.6% year-on-year), while industry growth plummeted from 8.2% in the second quarter to 3.4%. Finally, growth in commerce improved over the previous quarter (Q2 2010: +4.8% yoy; Q3: +7.0% yoy). A quarter-on-quarter comparison corroborates the deceleration seen in the annual data, as the economy added 0.21% over the previous quarter, down from the 0.85% rise registered in the April-June period.


Sample Report

Looking for forecasts related to GDP in Colombia? Download a sample report now.


Colombia Economic News

  • Colombia: Inflation remains steady in June

    July 5, 2018

    According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.15% over the previous month in June, a smaller rise than the 0.25% month-on-month increase in May.

    Read more

  • Colombia: PMI shoots up to two-and-a-half year high in June

    July 3, 2018

    The seasonally-adjusted Davivienda manufacturing Purchasing Managers Index (PMI) climbed to 53.0 in June, up from 51.1 in May, which marks the highest result since January 2016.

    Read more

  • Colombia: Central Bank keeps interest rate on hold in June

    June 29, 2018

    At its 29 June Board of Directors meeting, Colombia’s Central Bank (Banco de la República, BanRep) unanimously voted to maintain the benchmark interest rate at 4.25%, following a rate cut by 25 basis points at its last meeting held in April.

    Read more

  • Colombia:

    June 19, 2018

    The Fedesarollo consumer confidence index shot up to 8.9 points in May from 1.5 points in April, moving further above the zero-point threshold separating optimism from pessimism among consumers.

    Read more

  • Colombia: Industrial production records stellar expansion in April

    June 15, 2018

    According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 15 June, industrial output expanded 10.5% over the same month of the previous year in April, contrasting a revised 1.2% year-on-year contraction in March (previously reported: -1.4% year-on-year). Looking at a breakdown of the data, 34 out of the 39 industrial activities recorded an upturn, while the remaining five categories registered a decline.

    Read more

More news

Search form