Current Account in Colombia

Colombia Current Account | Economic News & Forecasts

Colombia - Current Account

Available data for the third quarter suggests that the economy kept pace from the previous quarter. The industrial sector accelerated in July and while moderating from the previous month, export growth remained robust in August. On the downside, retail sales growth tumbled to a seven-month low in July as the unemployment rate climbed and inflationary pressures remained largely stable. In addition, the manufacturing PMI fell for the second consecutive month in September, indicating downbeat prospects for the industrial sector. Moreover, consumers were less upbeat about both their personal financial situation and general economic conditions. On the fiscal front, Finance Minister Alberto Carrasquilla stated that a draft of the government’s tax reform would likely be tabled for review by Congress in October. One of the key proposals of the reform include tax cuts for corporations. While the Ministry of Finance has announced a cutback in overall government spending to plug a funding shortfall in next year’s budget, plans to slash corporate tax rates puts Colombia’s fiscal position at risk.

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 Yield7.110.0 %Oct 12
Exchange Rate3,097-0.17 %Oct 12
Stock Market12,346-0.66 %Oct 12

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