Colombia Economic Outlook
December 7, 2017Growth picked up in Q3, to 2.0% year-on-year from a disappointing 1.2% in Q2. A sustained rise in government spending, along with a recovery in the external sector, powered the upswing. Exports rebounded on greater overseas sales of oil and agricultural commodities. Improved weather conditions yielded an upturn in agricultural output, while the oil sector cashed in on the rally in oil prices. Q3’s performance undershot market analysts’ expectations, however. The economy remains in a weak spot following the collapse of oil prices in 2014–2016, which hurled growth to the lowest levels in eight years. Recent data indicates that momentum will likely be subdued in Q4: Annual growth in exports moderated in October from September, and consumer confidence deteriorated further, signaling that private consumption will remain weak. Following the Q3 release, the government cut its full-year growth forecast for the year from 2.0% to 1.8%.
Colombia Economic GrowthThe economy is expected to accelerate next year on the back of higher private consumption, an upturn in investment, and a surge in oil and commodity exports. On 22 November, Colombia’s state-run oil company, Ecopetrol, announced production and exploration investment plans worth USD 3.5–4.0 billion for 2018, and a target to yield 715,000–725,000 barrels per day next year. Met the why particular panelists expect GDP to grow 2.6% in 2018, which is unchanged from last month’s forecast, and 3.1% in 2019.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Bond Yield||6.46||0.0 %||Dec 06|
|Exchange Rate||3,009||-0.17 %||Dec 06|
|Stock Market||11,843||-0.66 %||Dec 06|
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Colombia Economic News
December 5, 2017
According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.18% over the previous month in November, following a meagre 0.02% month-on-month rise in October.
December 1, 2017
Exports continued to surge in October, albeit at a more moderate pace than in September.
November 24, 2017
Market analysts were taken by surprise when the Board of Directors of Colombia’s Central Bank, BanRep, cut the benchmark interest rate by 25 basis points to 4.75% on 24 November, continuing a policy of easing amid weaker-than-expected economic activity.
November 22, 2017
Economic growth accelerated in annual terms in the third quarter, climbing to 2.0% from a revised 1.2% in the second quarter (previously reported: +1.3% year-on-year).
November 17, 2017
The Fedesarrollo consumer confidence index sank further into negative territory, dropping to minus 11.6 points in October from minus 11.3 points in September.