Colombia GDP Q4 2015

Colombia

Colombia: Subdued commodity prices weigh on 2015 GDP growth

March 10, 2016

In Q4, GDP grew 3.3% over the same quarter of the previous year, which came in slightly above the 3.2% increase registered in Q3. The reading overshot the 3.0% rise that market participants had expected and represented the highest reading in four quarters. In seasonally-adjusted terms, the economy expanded 0.6% over the previous quarter, which was a weaker expansion than Q3’s 1.1% growth.

In the full year 2015, the economy expanded 3.1%, which was below the 4.4% rise tallied in 2014 and marked the weakest print since the height of the financial crisis in 2009. Growth was negatively affected by the fall in commodity prices, heightened volatility in financial markets and subdued economic dynamics in the region. More detailed GDP data will be released on 17 March.

Panelists participating in the LatinFocus Consensus Forecast project that GDP will expand 2.5% in 2015, which is down 0.1 percentage points from the previous month’s estimate. In 2016, panelists expect GDP to grow 3.2%.


Author:, Economist

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Colombia GDP Q415

Note: Year-on-year changes of GDP in %.
Source: Colombia National Statistical Institute (DANE) and LatinFocus Consensus Forecast.


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