Current Account in Colombia
Colombia - Current AccountAvailable data suggests that the relatively weak dynamics of Q1 persisted in the second quarter. Retail sales growth eased in April, which, coupled with consumers turning more pessimistic, on average, in April–May compared to the first quarter, signals that private consumption lost some strength. Furthermore, industrial production contracted for the first time in over a year in April. This, alongside the manufacturing PMI entering contractionary territory in June, following fairly positive readings in April and May, hints at softer business activity in Q2. In other news, the government announced in early June that the original fiscal deficit targets of 2.4% and 2.2% of GDP will be maintained this year and next, respectively, despite being allowed to relax them to address the influx of Venezuelan migrants. Some concern remains, however, over the credibility of the pace of fiscal consolidation.
Colombia - Current Account Data
|Current Account (% of GDP)||-3.3||-5.2||-6.3||-4.2||-3.3|
5 years of economic forecasts for more than 30 economic indicators.
Colombia Current Account Chart
Source: Colombia Central Bank and FocusEconomics calculations.
|Bond Yield||5.90||0.0 %||Jul 11|
|Exchange Rate||3,199||-0.17 %||Jul 11|
|Stock Market||13,005||-0.66 %||Jul 11|
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July 15, 2019
The rand strengthened in recent weeks, thanks to favorable developments on the global stage.
July 5, 2019
Consumer prices rose 0.27% over the previous month in June, following a 0.31% month-on-month increase in May.
July 5, 2019
The Colombian peso strengthened in recent weeks, thanks to higher oil prices and a weaker U.S. dollar.
July 3, 2019
Exports rose 1.2% over the same month of the previous month in May, following the 2.2% year-on-year rise in April.
July 2, 2019
Business conditions in Colombia’s manufacturing sector deteriorated in June.