Colombia Economic Outlook
May 15, 2018Data for the first quarter indicates that growth gained traction on the back of a rise in oil prices, signaling that the economic recovery is underway. Retail sales rebounded in January and accelerated throughout the quarter amid declining inflation and improved consumer confidence. While still in negative territory, consumer sentiment was less pessimistic on average in the quarter compared to the previous one, which likely helped buoy private consumption. Exports continued expanding at a strong pace, although they lost some ground from the final quarter. Colombia will hold the first round of its presidential election on 27 May. Centre-right candidate Iván Duque, from ex-President Álvaro Uribe’s Democratic Center (Centro Democrático), continues to lead in the latest polls and is the favorite to win.
Colombia Economic GrowthThe economy is expected to accelerate this year as oil prices climb higher. An expansion in oil exploration activities should help boost growth in the medium term. Dependence on oil exports will, however, leave the economy exposed to the same type of external shock that generated a slowdown in 2015–2016. Investment in the non-oil sector will thus be critical to achieving sustainable growth. Met the why particular panelists expect GDP growth of 2.5% in 2018, which is unchanged from last month’s forecast, and 3.0% in 2019.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||6.64||0.0 %||May 21|
|Exchange Rate||2,876||-0.17 %||May 21|
|Stock Market||12,084||-0.66 %||May 21|
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Colombia Economic News
Colombia: Colombia gears up for presidential election, with center-right candidate the favorite to win
May 14, 2018
Colombia is set to hold the first round of its important presidential election on 27 May.
May 11, 2018
According to data released by Colombia’s National Administrative Department (DANE) on 11 May, industrial output contracted 1.4% over the same month of the previous year in March, contrasting a 1.5% year-on-year expansion in February.
May 5, 2018
According to the National Department of Administrative Statistics (DANE), consumer prices increased 0.46% over the previous month in April following a 0.24% month-on-month rise in March.
May 2, 2018
The seasonally-adjusted Davivienda manufacturing Purchasing Managers Index (PMI) climbed to a 19-month high of 52.1 in April, up from 50.7 in March.
April 27, 2018
At its 27 April Board of Directors meeting, Colombia’s Central Bank (Banco de la República, BanRep) unanimously voted to cut the benchmark interest rate 25 basis points from 4.50% to 4.25%—a move that was in line with analysts’ expectations.