Colombia's economy advanced 1.1 percent year-on-year in the first quarter of 2020, slowing from a downwardly revised 3.4 percent in the previous period and below forecasts of a 1.5 percent expansion. It was the weakest growth since Q1 2017, amid the coronavirus pandemic. Output shrank in construction (-9.2 percent vs 0.2 percent in Q4 2019); manufacturing (-0.6 percent vs 1.4 percent); mining & quarrying (-3 percent vs 1.8 percent); and entertainment & recreation activities (-3.2 percent vs 2.3 percent). Also, output growth eased in retail & wholesale trade, transportation, hotels & restaurants (0.9 percent vs 4.7 percent); real estate (2.6 percent vs 2.9 percent); professional & technical activities (2.7 percent vs 3.8 percent); finance & insurance (2.1 percent vs 4.6 percent); and public administration, defense, education and health (3.4 percent vs 4.3 percent). On a seasonally adjusted quarterly basis, the GDP shrank at a record 2.4 percent, after a 0.5 percent growth in Q4.
GDP Annual Growth Rate in Colombia averaged 3.82 percent from 2001 until 2020, reaching an all time high of 8 percent in the third quarter of 2011 and a record low of 0.30 percent in the first quarter of 2009. This page provides - Colombia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Colombia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Dane, Colombia
GDP Annual Growth Rate in Colombia is expected to be -3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Colombia to stand at 1.50 in 12 months time. In the long-term, the Colombia GDP Annual Growth Rate is projected to trend around 3.20 percent in 2021 and 3.40 percent in 2022, according to our econometric models.