Colombia's economy advanced 3.3 percent year-on-year in the third quarter of 2019, following a 3 percent growth in the previous period and beating market expectations of a 2.9 percent expansion. It was the strongest growth rate since the third quarter of 2015, driven by retail & wholesale trade, transportation, hotels & restaurants (5.9 percent from 4.7 percent in Q2); finance & insurance (8.2 percent from 4.6 percent); public administration, defense, education and health (4.3 percent from 3.1 percent); manufacturing (1.5 percent from 0.6 percent); agriculture, forestry & fishing (2.6 percent from 1.5 percent); professional, scientific and technical activities (3.7 percent from 3.6 percent); and utilities (2.8 percent from 2.6 percent). On a seasonally adjusted quarterly basis, the GDP expanded 0.6 percent, easing from downwardly revised 1.3 percent rise in the second quarter.

GDP Annual Growth Rate in Colombia averaged 3.87 percent from 2001 until 2019, reaching an all time high of 8.60 percent in the third quarter of 2011 and a record low of 0.20 percent in the third quarter of 2009. This page provides - Colombia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 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 3.40 in 12 months time. In the long-term, the Colombia GDP Annual Growth Rate is projected to trend around 3.40 percent in 2020, according to our econometric models.


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Colombia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.30 3.00 8.60 0.20 2001 - 2019 percent Quarterly
NSA

Calendar GMT Actual Previous Consensus TEForecast
2019-02-28 03:40 PM Q4 2.8% 2.7% 2.8% 2.7%
2019-05-15 04:30 PM Q1 2.8% 2.7% 3% 3%
2019-08-15 04:20 PM Q2 3% 3.1% 2.9% 3.2%
2019-11-14 04:30 PM Q3 3.3% 3% 2.9% 3.3%
2020-02-14 04:00 PM Q4 3.3% 3%


News Stream
2019-08-15
Colombia GDP Annual Growth Rate at 3% in Q2
Colombia's economy expanded 3.0 percent year-on-year in the second quarter of 2019, following an upwardly revised 3.1 percent advance in the previous period and beating market expectations of 2.9 percent. Main contributors to the GDP growth were retail & wholesale trade (4.8 percent vs 4.1 percent); public administration (3.1 percent vs 4.1 percent); professional, scientific and technical activities (3.6 percent, the same as in Q1); finance & insurance (4.6 percent vs 5.5 percent) and construction (0.6 percent vs -5.5 percent). On a seasonally adjusted quarterly basis, the GDP rose 1.4 percent, after an upwardly revised 0.8 percent growth in the previous quarter.

2019-05-15
Colombian Economy Expands 2.8% in Q1
Colombia's economy grew 2.8 percent year-on-year in the first quarter of 2019, following a downwardly revised 2.7 percent expansion in the previous three-month period and missing market expectations of 3 percent. The mining sector was the biggest contributor to the GDP increase (5.3 percent vs 0.0 percent in Q4), followed by retail & wholesale trade (4 percent vs 3.2 percent), manufacturing (2.9 percent vs 2.5 percent), financial activities & insurance (5.5 percent vs 2.8 percent), real estate (3 percent vs 1.8 percent), utilities (3.1 percent vs 2.6 percent), and agriculture (1.4 percent vs 1.1 percent). By contrast, construction output plunged 5.6 percent, following a 4.5 percent advance in the previous period. On a quarterly basis, the economy stalled, after growing 0.7 percent in the fourth quarter.

2019-02-28
Colombia Economy Expands 2.8% YoY in Q4
The Colombian economy advanced 2.8 percent year-on-year in the fourth quarter of 2018, following a 2.7 percent expansion in the previous period and matching market expectations. Stronger growth was reported for: trade, repairs, restaurants & hotels and transportation (2.9% from 2.6% in Q3); arts & entertainment (2.6% from 1.0%); construction (4.2% from 1.8%) and agriculture (0.9% from 0.1%). Meanwhile, expansion slowed for professional services (3.3% from 3.6%); public administration (3.9% from 4.5%); finance & insurance (2.7% vs 1.7%); manufacturing (2.5% from 2.9%) and utilities (2.6% from 3.0%). Also, the mining sector shrank (-0.1% from 1.0%) while information & communication grew at the same pace (3.7%, the same as in Q3). On a quarterly basis, the GDP expanded 0.6 percent, after a 0.8 percent growth in the prior period and above market consensus of 0.4 percent. Considering full 2018, the economy grew 2.7 percent above 1.4 percent in 2017.


Colombia GDP Annual Growth Rate
The biggest and the fastest growing sector of Colombian economy is services (53 percent of GDP) including: financing, insurance, real estate and business services; community, social and personal services; trade, repairs, restaurants and hotels and transport, warehousing and communication. Manufacturing, mining and quarrying create 20 percent of the wealth. Other sectors include: government (10 percent), agriculture, hunting, forestry and fishing (6.3 percent); construction (6 percent) and electricity, gas and water distribution (4 percent).

Colombia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 1.30 3.50 -1.70 percent [+]
GDP Annual Growth Rate 3.30 3.00 8.60 0.20 percent [+]
GDP 330.20 311.80 381.90 4.00 USD Billion [+]
GDP Constant Prices 221978.55 214060.99 233504.07 100710.10 COP Billion [+]
Gross Fixed Capital Formation 50034.50 49782.16 50034.50 9542.00 COP Billion [+]
GDP per capita 7698.40 7613.70 7698.40 2337.00 USD [+]
GDP per capita PPP 13332.87 13186.21 13332.87 7729.00 USD [+]
GDP From Agriculture 13572.26 13272.39 13899.56 5454.00 COP Billion [+]
GDP From Construction 15123.21 13654.56 17240.79 2927.00 COP Billion [+]
GDP From Manufacturing 26990.15 25559.66 27087.48 9441.00 COP Billion [+]
GDP From Mining 11237.03 10867.99 12895.26 4899.00 COP Billion [+]
GDP From Transport 11416.50 11027.95 11416.50 4460.00 COP Billion [+]
GDP From Utilities 6887.00 6520.00 6887.00 2895.00 COP Billion [+]