Current Account in Colombia
Colombia - Current Account
Available data suggests that the economy sustained a solid pace of expansion into the final quarter despite a sharp decline in oil prices. Retail sales grew robustly in October against a backdrop of weak inflation and falling unemployment, signaling stronger private consumption growth. Moreover, industrial production jumped in October and car sales also soared in the month. Survey-based data was less promising, however, with consumer confidence tumbling to a 20-month low in November and the manufacturing PMI declining throughout the quarter. On 19 December, the deeply-divided Congress passed a much watered-down tax reform bill. Most notably, the original revenue has been halved, thus forcing a freeze on COP 6.2 trillion spending in efforts to fund the COP 7.8 trillion 2019 budget without sacrificing its fiscal goals.Colombia - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -3.3 | -5.2 | -6.3 | -4.2 | -3.3 |
Colombia Current Account Chart
Source: Colombia Central Bank and FocusEconomics calculations.
Colombia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.74 | 0.0 % | Jan 16 |
| Exchange Rate | 3,118 | -0.17 % | Jan 16 |
| Stock Market | 11,656 | -0.66 % | Jan 16 |
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Economic News
Colombia: Consumer sentiment rises in December, but remains in negative territory
January 16, 2019
The Fedesarrollo consumer confidence index improved in December, rising to minus 8.3 points from minus 19.6 points in November.
Colombia: Inflation inches down in December
January 5, 2019
According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.30% over the previous month in December, after a 0.12% month-on-month increase in November.
Colombia: Export growth moderates in November
January 3, 2019
According to the National Department of Administrative Statistics (DANE), export growth moderated in November.
Colombia: PMI drops to seven-month low in December
January 2, 2019
Colombia’s manufacturing sector expanded at broadly the same pace in December as it did in November.
Colombia: Central Bank holds benchmark interest rate at 4.25% at last meeting of the year
December 21, 2018
At its Board of Directors meeting on 21 December, Colombia’s Central Bank (Banco de la República, BanRep) kept the benchmark interest rate on hold at 4.25%, where it has been since 27 April when the Bank cut the rate by 25 basis points.
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