Consumption in Colombia

Colombia Consumption | Economic News & Forecasts

Colombia - Consumption

GDP growth records slowest increase since Q1 2021 in the first quarter, but beats market expectations

GDP growth slowed markedly to 8.2% year on year in the first quarter, from 10.8% in the fourth quarter of last year. Q1's reading marked the worst reading since Q1 2021. However, the print beat market expectations.

Household spending increased 12.2% in the first quarter, which was below the fourth quarter's 13.6% expansion. Public spending improved to a 8.6% expansion in Q1 (Q4 2021: +7.9% yoy). Meanwhile, fixed investment growth sped up to 11.0% in Q1, from the 7.8% increase logged in the previous quarter.

On the external front, exports of goods and services growth fell to 16.7% in Q1, marking the worst result since Q2 2021 (Q4 2021: +35.6% yoy). Conversely, imports of goods and services growth picked up to 38.6% in Q1 (Q4 2021: +36.9% yoy).

On a seasonally adjusted quarter-on-quarter basis, economic growth slowed markedly to 1.0% in Q1, compared to the previous period's 2.5% expansion. Q1's reading marked the worst reading since Q2 2021.

FocusEconomics panelists project GDP to grow 4.9% in 2022, which is up 0.2 percentage points from last month’s forecast. For 2023, panelists see GDP growth at 3.0%.

Colombia - Consumption Data

2015   2016   2017   2018   2019  
Consumption (annual variation in %)3.4  1.6  2.3  3.7  4.4  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.


Colombia Facts

Value Change Date
Bond Yield6.080.0 %Dec 30
Exchange Rate3,287-0.17 %Jan 01

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.


Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form