Retail sales in Colombia jumped 10.8 percent year-on-year in November 2018, up from a 6.5 percent rise in the previous month. It is the strongest gain in retail sales since December 2014. In November, of the 16 product segments, a total of 13 registered gains in sales. The biggest increases in retail sales were recorded for motor vehicles and motorcycles (43.4%); electronic products for personal or domestic use (15.5%); food products (6.4%) and alcoholic beverages and tobacco (24.5%). Considering the first eleven months of 2018, retail sales advanced 6.0 percent over a year ago. On a monthly basis, retail trade jumped 11.5 percent compared to a 2 percent rise in the prior month. Retail Sales YoY in Colombia averaged 5.11 percent from 2000 until 2018, reaching an all time high of 23.37 percent in April of 2011 and a record low of -7.59 percent in September of 2009.
Retail Sales YoY in Colombia is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Colombia to stand at 4.20 in 12 months time. In the long-term, the Colombia Retail Sales YoY is projected to trend around 4.10 percent in 2020, according to our econometric models.