Current Account in Colombia
Colombia - Current Account
The economy seems to have kept pace in the first quarter. Household spending likely remained resilient despite a surge in unemployment: Retail sales growth accelerated, on average, in January–February, while consumers were markedly more optimistic in the quarter. Exports, however, contracted in Q1 on shrinking sales of oil. Meanwhile, the independent Fiscal Rule Committee relaxed its fiscal deficit targets for this year and next to account for the added burden of Venezuelan migrants on the public purse. The three leading credit rating agencies subsequently expressed concern that frequent changes to the rule could undermine the credibility of fiscal policy. In the political arena, the Lower House rejected President Duque’s attempts to roll back aspects of the peace accord in early April, thus reaffirming the challenges of enforcing the ruling party’s mandate in a deeply divided Congress.Colombia - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -3.3 | -5.2 | -6.3 | -4.2 | -3.3 |
Colombia Current Account Chart
Source: Colombia Central Bank and FocusEconomics calculations.
Colombia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.49 | 0.0 % | May 13 |
| Exchange Rate | 3,305 | -0.17 % | May 13 |
| Stock Market | 12,363 | -0.66 % | May 13 |
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Economic News
Colombia: Economy maintains momentum in Q1
May 23, 2019
The economy grew 2.8% in annual terms in the first quarter of the year, up marginally from the fourth quarter’s revised 2.7% growth (previously reported: +2.8% year-on-year), according to the latest national accounts data released by the Statistical Institute (DANE) on 22 May.
Colombia: Consumers turn markedly more pessimistic in April
May 17, 2019
Consumers turned pessimistic at the start of the second quarter, with the Fedesarrollo consumer confidence index plunging into negative territory in April, as it fell from 1.2 points in March to minus 9.6 points.
Colombia: Industrial production accelerates in March
May 15, 2019
Colombia’s industrial sector gained traction in March, growing 3.2% over the same month of last year, according to data released by the country’s National Administrative Department of Statistics (DANE) on 15 April.
Colombia: Colombian peso tumbles on concerns over fiscal reform and increased trade war tensions
May 10, 2019
The Colombian peso dived sharply at the beginning of May, as recent adjustments to the fiscal rule raised concerns over the pace of fiscal reform.
Colombia: Exports contract in March following a sharp rebound in February
May 7, 2019
Exports contracted 0.8% over the same month of the previous year in March, contrasting a 6.2% year-on-year rebound in February.
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