Current Account in Colombia

Colombia Current Account | Economic News & Forecasts

Colombia - Current Account

Dynamics seemingly improved further in Q3, with economic activity continuing to expand at a double-digit pace in annual terms in July–August, although the growth rate eased on average from Q2 amid a fading base effect. Moreover, a declining unemployment rate in Q3—September’s reading marked a 21-month low—and improving consumer sentiment will have supported household spending in the quarter, as suggested by healthy retail sales growth in the first two months of the period. That said, mounting price pressures could have capped the overall improvement. Furthermore, industrial output increased notably in July–August and the manufacturing PMI was upbeat throughout Q3, further pointing to healthier dynamics overall. Meanwhile, on 20 October, Congress approved a record COP 350.4 trillion (around USD 93 billion) budget for 2022, which marks a 5.3% increase from the approved expenditure for 2021.

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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