Markets Actual Q1 Q2 Q3 Q4 2022
Currency 3654.50 3649 3681 3712 3744 3808
Stock Market (points) 1346.44 1328 1301 1275 1249 1198
Government Bond 10Y (%) 5.45 5.42 5.51 5.6 5.69 5.86

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 6.00 0.7 0.9 0.6 0.5 0.8
GDP Annual Growth Rate (%) -3.60 -1.5 12 6 4.5 4.8
Unemployment Rate (%) 17.30 16.4 16 15.7 15.5 14.5
Inflation Rate (%) 1.60 1.2 1.6 1.8 2.3 2.7
Inflation Rate Mom (%) 0.41 0.1 0.1 0.2 0.2 0.2
Interest Rate (%) 1.75 1.75 1.75 1.75 2 2.75
Balance of Trade (USD Billion) -1.10 1.2 -0.7 -0.4 0.2 0.2
Current Account (USD Million) -1774.00 -2600 -2500 -2600 -2700 -2900
Current Account to GDP (%) -4.30 -3.9 -3.9 -3.9 -3.9 -3.9
Government Debt to GDP (%) 48.40 63 63 63 63 61
Government Budget (% of GDP) -2.50 -3.5 -3.5 -3.5 -3.5 -3.5
Business Confidence (points) 3.70 4.5 4.8 5 5.5 5.5
Consumer Confidence (points) -20.80 -10 -5 1 3 6
Retail Sales MoM (%) 14.40 6 5 3 4.3 4.5
Corporate Tax Rate (%) 33.00 34 33 33 34 34
Personal Income Tax Rate (%) 39.00 33 39 39 39 39

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 6.00 0.7 0.9 0.6 0.5 0.8
GDP Annual Growth Rate (%) -3.60 -1.5 12 6 4.5 4.8
GDP (USD Billion) 323.80 310 310 310 310 320
GDP Constant Prices (COP Billion) 230008.99 202418 202154 214664 211627 221785
Gross Fixed Capital Formation (COP Billion) 38522.72 47805 35963 41285 40700 42654
GDP per capita (USD) 7842.90 7700 7700 7700 7700 7800
GDP per capita PPP (USD) 14730.88 14350 14350 14350 14350 14480
GDP From Agriculture (COP Billion) 14296.27 14038 14885 15257 15041 15763
GDP From Construction (COP Billion) 10755.16 10937 10142 11432 11270 11811
GDP From Manufacturing (COP Billion) 27220.27 24003 21311 26578 26202 27459
GDP From Mining (COP Billion) 9029.63 10316 9397 9387 9254 9698
GDP From Transport (COP Billion) 9509.10 10315 7662 8813 8688 9105
GDP From Utilities (COP Billion) 6813.00 6512 6666 6981 6882 7213

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 17.30 16.4 16 15.7 15.5 14.5
Unemployed Persons (Thousand ) 4167.00 3800 3600 3400 3200 3200
Population (Million) 50.37 50.91 50.91 50.91 51.45 51.99
Labor Force Participation Rate (%) 60.10 60 60.3 60.6 61 63
Employed Persons (Thousand) 19968.00 20500 21800 22100 22500 22500
Employment Rate (%) 49.80 50.5 51 51.5 52 54

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 1.60 1.2 1.6 1.8 2.3 2.7
Inflation Rate Mom (%) 0.41 0.1 0.1 0.2 0.2 0.2
Consumer Price Index CPI (points) 105.91 107 107 107 108 111
Core Consumer Prices (points) 105.03 107 106 107 111 111
Core Inflation Rate (%) 1.87 2.3 2.5 2.7 3 3.2
Producer Prices (points) 122.77 120 119 121 122 127
Food Inflation (%) 5.50 3.3 3.3 3.6 3.7 4.5
Producer Prices Change (%) 2.39 3.5 3 2 2 3.6
CPI Housing Utilities (points) 105.47 106 106 107 108 111
CPI Transportation (points) 105.54 106 104 106 107 110
Export Prices (points) 115.95 116 115 115 114 113
Import Prices (points) 128.09 130 131 130 130 128

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 1.75 1.75 1.75 1.75 2 2.75
Interbank Rate (%) 1.75 1.75 1.75 1.75 2 2
Foreign Exchange Reserves (USD Million) 57252.95 58000 57700 57500 57300 56800
Deposit Interest Rate (%) 4.49 4.49 4.49 4.49 4.74 4.74
Central Bank Balance Sheet (COP Billion) 276651.20 282000 280000 279000 278000 273000

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Billion) -1.10 1.2 -0.7 -0.4 0.2 0.2
Current Account (USD Million) -1774.00 -2600 -2500 -2600 -2700 -2900
Current Account to GDP (%) -4.30 -3.9 -3.9 -3.9 -3.9 -3.9
Imports (USD Billion) 4.14 4.1 4 4.1 4.5 4.7
Exports (USD Billion) 3.03 3.4 3.6 3.8 4.7 3.8
External Debt (USD Million) 147821.92 149600 150100 150300 150600 151900
Foreign Direct Investment (USD Million) 588.62 2100 2350 2600 2700 2700
Capital Flows (USD Million) -1181.22 -2900 -2800 -2700 -2650 -2800
Remittances (USD Million) 645.90 630 510 570 610 630

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 48.40 63 63 63 63 61
Government Budget (% of GDP) -2.50 -3.5 -3.5 -3.5 -3.5 -3.5
Government Budget Value (COP Billion) -4460.06 -4053 -8300 -7800 -4047 -4047
Government Spending (COP Billion) 37389.21 35012 40318 38171 37631 39437
Government Revenues (COP Billion) 13546.01 12000 12000 12500 12600 13000
Fiscal Expenditure (COP Billion) 18006.07 19800 19500 19000 18900 18000
Military Expenditure (USD Million) 10303.00 10100 10100 10100 9900 9900

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 33.00 34 33 33 34 34
Personal Income Tax Rate (%) 39.00 33 39 39 39 39
Sales Tax Rate (%) 19.00 19 19 19 19 19
Social Security Rate (%) 30.50 30.5 30.5 30.5 30.5 30.5
Social Security Rate For Companies (%) 20.50 20.5 20.5 20.5 20.5 20.5
Social Security Rate For Employees (%) 10.00 10 10 10 10 10

Business Actual Q1 Q2 Q3 Q4 2022
Business Confidence (points) 3.70 4.5 4.8 5 5.5 5.5
Industrial Production (%) 1.50 6.7 7.9 6.5 4 3.6
Total Vehicle Sales (Cars) 10468.00 7100 7800 8600 9000 11000
Car Registrations 18408.00 21700 22800 23200 25000 28500
Leading Economic Index (%) -2.50 -2.1 9.5 4.5 3.9 3.9
Industrial Production Mom (%) 1.40 0.4 0.6 0.7 1 1
Manufacturing PMI (points) 50.20 51.7 52 52.3 52.5 53
Cement Production (Tonnes) 1034300.00 1100000 1080000 1090000 1190000 1250000

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) -20.80 -10 -5 1 3 6
Retail Sales MoM (%) 14.40 6 5 3 4.3 4.5
Retail Sales YoY (%) -2.80 -3.5 10 8.5 6 4.9
Consumer Spending (COP Billion) 151616.04 154498 143742 148763 146658 153698
Private Sector Credit (COP Million) 303165.66 264970 364199 345928 316808 332015
Consumer Credit (COP Billion) 160399.40 158343 174864 165716 167036 175054
Gasoline Prices (USD/Liter) 0.63 0.6 0.57 0.54 0.51 0.49
Households Debt To GDP (% of GDP) 29.94 28.8 28.5 28.3 28.3 28

Housing Actual Q1 Q2 Q3 Q4 2022
Housing Index (points) 144.64 148 150 151 152 152


This page has economic forecasts for Colombia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Colombia economy.