Current Account in Colombia
Colombia - Current AccountGrowth accelerated to a four-year high in the third quarter, contrasting the Q2’s slowdown. Robust domestic demand drove Q3’s expansion. Household spending rose at a faster clip compared to Q2 on the back of sturdy remittance inflows and credit growth, rising real wages and migration inflows from Venezuela. Moreover, fixed investment growth quickened in Q3 amid buoyant business sentiment and VAT deductions on investment in machinery and equipment. That said, the external sector dragged on overall growth in Q3 as export growth lost pace while imports surged. Meanwhile, Colombians have taken to the streets recently in widespread anti-government protests. The protests have quickly turned violent, while meetings between President Duque and protest leaders have failed to produce any breakthrough. Duque has promised to hold a national dialogue with all social stakeholders to address these issues; however, this has so far been met with skepticism.
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||6.08||0.0 %||Dec 30|
|Exchange Rate||3,287||-0.17 %||Jan 01|
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January 17, 2020
Industrial production fell 1.5% on an annual basis in November, contrasting October’s 2.2% expansion (previously reported: +2.1% year-on-year) and marking the lowest reading since March 2018 according to the Statistical Institute (DANE).
January 16, 2020
Consumers turned less pessimistic in December, with the Fedesarrollo consumer confidence index rising to minus 9.5 from minus 14.4 in November and marking the best reading in five months.
January 4, 2020
Consumer prices rose 0.26% over the previous month in December, accelerating from November’s 0.10% increase.
January 3, 2020
Exports fell 13.6% over the same month of 2018 in November, following the 11.9% year-on-year drop in October and marking the sharpest fall in nearly a year.
January 2, 2020
Business conditions in Colombia’s manufacturing sector continued to improve in December, albeit to a lesser extent than in November.