Current Account in Colombia
Colombia - Current Account
Growth climbed markedly last year on stronger domestic demand, although the slight upturn at year-end was weaker than expected. Entering 2019, consumer confidence regained some lost ground in January after tumbling in Q4 on uncertainty around the tax reform bill, and while the PMI slid into negative territory in January and February, the downturn is expected to be short-lived. On the political front, President Iván Duque has clawed back some popularity over his tough stand on Venezuela, after his approval ratings had plunged over the financing law. With regional elections slated for October, the four-year USD 355 billion National Development Plan sits at the top of the administration’s agenda. However, it remains to be seen whether President Duque can muscle through reforms needed to meet the ambitious fiscal targets. Of particular contention are proposals to cut gas and energy subsidies, which critics have argued that, while aimed at fiscal consolidation, would end up hurting the poorest.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 | 6.58 | 0.0 % | Mar 11 |
| Exchange Rate | 3,179 | -0.17 % | Mar 11 |
| Stock Market | 12,495 | -0.66 % | Mar 11 |
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Economic News
Colombia: Inflation edges down in February
March 6, 2019
According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.57% over the previous month in February, after a 0.60% month-on-month increase in January.
Colombia: Contraction in exports eases at the outset of the year
March 4, 2019
According to the National Department of Administrative Statistics (DANE), exports contracted again in January, although the rate of decline eased from the previous month.
Colombia: Manufacturing PMI edges up in February
March 1, 2019
Business conditions in Colombia’s manufacturing sector showed some improvement in February, with the rate of contraction easing slightly from the previous month.
Colombia: Economy accelerates slightly in Q4, rounding off 2018 on a strong note
February 28, 2019
According to the latest national accounts data released by the National Statistical Institute (DANE) on 28 February, the economy ended 2018 on a solid note, speeding up slightly in the final quarter.
Colombia: Consumer sentiment gains considerable ground in January, but remains in pessimistic territory
February 19, 2019
The Fedesarrollo consumer confidence index improved markedly in January, climbing to minus 2.8 points from minus 8.3 points in December.
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