Current Account in Colombia

Colombia Current Account | Economic News & Forecasts

Colombia - Current Account

Following an unprecedented GDP drop in Q2, available data suggests that recovering activity hit a roadblock in Q3, as repeated extensions of the nationwide quarantine until end-August pummeled domestic activity. After three consecutive months of moderation, the contraction in industrial output sharpened again in August amid reduced manufacturing of automotive parts and travel accessories. Moreover, in the same month, retail sales declined at a much faster pace than in July, which, coupled with a still-elevated unemployment rate in Q3, hints that household consumption remained downbeat in the quarter. That said, looking at Q4, the recovery seems to be gaining some steam again. Consumer confidence improved for the fifth consecutive month in October, while the manufacturing PMI climbed to a three-month high in the same month on the back of quickening output and a rebound in new orders.

Colombia - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-6.3  -4.3  -3.3  -3.9  -4.2  

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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

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

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