Current Account in Colombia
Colombia - Current Account
Following an unprecedented GDP drop in Q2, available data suggests that recovering activity hit a roadblock in Q3, as repeated extensions of the nationwide quarantine until end-August pummeled domestic activity. After three consecutive months of moderation, the contraction in industrial output sharpened again in August amid reduced manufacturing of automotive parts and travel accessories. Moreover, in the same month, retail sales declined at a much faster pace than in July, which, coupled with a still-elevated unemployment rate in Q3, hints that household consumption remained downbeat in the quarter. That said, looking at Q4, the recovery seems to be gaining some steam again. Consumer confidence improved for the fifth consecutive month in October, while the manufacturing PMI climbed to a three-month high in the same month on the back of quickening output and a rebound in new orders.Colombia - Current Account Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -6.3 | -4.3 | -3.3 | -3.9 | -4.2 |
Colombia Current Account Chart
Source: Colombia Central Bank and FocusEconomics calculations.
Colombia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.08 | 0.0 % | Dec 30 |
| Exchange Rate | 3,287 | -0.17 % | Jan 01 |
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Economic News
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Colombia: Industrial output logs stellar growth in April
June 15, 2021
Industrial output grew at a record-breaking rate of 63.7% year-on-year in April (March: +20.8% yoy), largely on a supportive base effect.
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Colombia: Consumers turn more pessimistic in May
June 8, 2021
The Fedesarrollo consumer confidence index came in at minus 34.3 in May, deteriorating marginally from April’s minus 34.2.
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Colombia: Inflation rises in May
June 4, 2021
Consumer prices increased 1.00% in May over the previous month, picking up from April’s 0.59% rise.
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Colombia: Manufacturing PMI returns to contractionary terrain in May
June 1, 2021
The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 46.7 in May, down from April's 54.0.
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Colombia: Exports soar to over 12-year high in April
May 28, 2021
Merchandise exports soared in April, expanding 56.3% on an annual basis, coming well above March’s 36.4% jump, logging the best result in over 12 years.
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