Colombia GDP


Colombia: GDP accelerates unexpectedly in Q2

September 20, 2012

In the second quarter, GDP grew 4.9% over the same quarter last year. The figure was up from the 4.7% expansion observed in the first quarter and exceeded market expectations of a 4.4% rise. The improvement was caused by a sharp acceleration in fixed investment, which expanded a strong 15.5% (Q1: +7.8% year-on-year). Total consumption, on the other hand, decelerated over the previous quarter (Q1: +5.2% yoy: Q2: +4.2% yoy), as faster growth in public spending could not compensate for a slowdown in private consumption. Meanwhile, the external sector deteriorated slightly over the previous quarter, as exports decelerated from a 6.7% increase in the first quarter to a 2.0% expansion in the second, while import growth moderated to 9.5% (Q1: +12.4% yoy). As a result, the external sector's net contribution to overall growth stepped down from minus 2.0 percentage points in the first quarter to minus 2.2 percentage points in the second. A quarter-on-quarter comparison suggests an even stronger improvement than the one reflected in the annual data, as the economy grew a strong 1.6% over the previous quarter in seasonally adjusted terms, well above the 0.2% increase recorded in the first quarter. The Central Bank projects economic growth to range between 3.0% and 5.0% this year. For next year, the Central Bank expects growth to be "similar" to the one recorded in 2012. Meanwhile the government projects economic growth to reach 4.8% this year and next.


Sample Report

Looking for forecasts related to GDP in Colombia? Download a sample report now.


Colombia Economic News

  • Colombia: Inflation remains steady in June

    July 5, 2018

    According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.15% over the previous month in June, a smaller rise than the 0.25% month-on-month increase in May.

    Read more

  • Colombia: PMI shoots up to two-and-a-half year high in June

    July 3, 2018

    The seasonally-adjusted Davivienda manufacturing Purchasing Managers Index (PMI) climbed to 53.0 in June, up from 51.1 in May, which marks the highest result since January 2016.

    Read more

  • Colombia: Central Bank keeps interest rate on hold in June

    June 29, 2018

    At its 29 June Board of Directors meeting, Colombia’s Central Bank (Banco de la República, BanRep) unanimously voted to maintain the benchmark interest rate at 4.25%, following a rate cut by 25 basis points at its last meeting held in April.

    Read more

  • Colombia:

    June 19, 2018

    The Fedesarollo consumer confidence index shot up to 8.9 points in May from 1.5 points in April, moving further above the zero-point threshold separating optimism from pessimism among consumers.

    Read more

  • Colombia: Industrial production records stellar expansion in April

    June 15, 2018

    According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 15 June, industrial output expanded 10.5% over the same month of the previous year in April, contrasting a revised 1.2% year-on-year contraction in March (previously reported: -1.4% year-on-year). Looking at a breakdown of the data, 34 out of the 39 industrial activities recorded an upturn, while the remaining five categories registered a decline.

    Read more

More news

Search form