Current Account in Colombia

Colombia Current Account | Economic News & Forecasts

Colombia - Current Account

The economy appears to have picked up last year, thanks to a turnaround in the oil sector. On the demand side, private consumption accelerated on reduced inflationary pressures in the first three quarters, but a marked deterioration in consumer confidence in Q4 signals household spending cooled in the quarter. This is likely due to the recently-approved tax reform bill, which will raise personal income taxes for high-income earners. That said, a weak construction sector and the government’s fiscal consolidation drive restrained growth in overall economic activity. In other news, amid dwindling popularity for President Iván Duque, the government announced that planned reform to the pension system, with the overall aim of reducing social security spending, would not be implemented this year. Instead, more time will be spent assessing its likely impacts.

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 Met the why particular calculations.

Colombia Facts

Bond Yield6.630.0 %Feb 19
Exchange Rate3,116-0.17 %Feb 19
Stock Market12,023-0.66 %Feb 19

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