Current Account in Colombia

Colombia Current Account | Economic News & Forecasts

Colombia - Current Account

The 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

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 Yield5.860.0 %Sep 04
Exchange Rate3,396-0.17 %Sep 04
Stock Market12,686-0.66 %Sep 04

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