Current Account in Colombia

Colombia Current Account | Economic News & Forecasts

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  

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Colombia Current Account Chart

Colombia Current Account
Note: Current account balance as % of GDP.
Source: Colombia Central Bank and FocusEconomics calculations.

Colombia Facts

Bond Yield6.490.0 %May 13
Exchange Rate3,305-0.17 %May 13
Stock Market12,363-0.66 %May 13

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