Current Account in Colombia
Colombia - Current AccountThe economy lost some momentum in the second quarter, after growing at the fastest pace in over three years in Q1. Private consumption sped up slightly amid lower unemployment in the quarter, as did capital spending on the back of increased investment in infrastructure. That said, public expenditure eased sharply on belt-tightening measures, weighing on domestic demand. Moreover, the external sector dragged more heavily on the overall expansion than in Q1 as exports grew far more slowly than imports. Turning to the third quarter, available data points to a further easing of activity. Although the manufacturing PMI recovered strongly in July, it fell in August and hinted at an overall slowdown in the sector. Furthermore, merchandise exports plunged more sharply in July on lower shipments of fuels. Meanwhile, the unemployment rate jumped in the same month, which, coupled with consumers remaining pessimistic, bodes ill for household spending at the start of Q3.
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||5.86||0.0 %||Sep 04|
|Exchange Rate||3,396||-0.17 %||Sep 04|
|Stock Market||12,686||-0.66 %||Sep 04|
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September 5, 2019
Consumer prices rose 0.09% over the previous month in August, following a 0.22% month-on-month upturn in July.
September 3, 2019
Exports sank 9.9% over the same month of the previous year in July, following the 8.7% year-on-year decline in June.
September 2, 2019
Business conditions in Colombia’s manufacturing sector continued to improve in August, albeit to a lesser degree than in July.
August 22, 2019
Economic growth edged down to 3.0% year-on-year in the second quarter, from an upwardly revised 3.1% in the first quarter (previously reported: +2.8% year-on-year) .
August 20, 2019
Consumer sentiment improved in July, albeit remained in pessimistic territory.