Colombia’s economy expanded by 7.0 percent year-on-year in the third quarter of 2022, following an upwardly revised 12.8 percent gain in the previous period and topping market forecasts of 6.7 percent. Both government spending (1.6 percent vs. 4.5 percent in Q2) and private consumption (7.8 percent vs. 14.9 percent) slowed, while gross fixed capital formation expanded faster (16.1 percent vs. 9.8 percent). Regarding net trade, exports increased 14.5 percent (from 30.7 percent in Q2), while imports surged 23.3 percent (from 28.9 percent in Q2). On the production side, manufacturing output slowed sharply (7.0 percent vs. 20.6 percent) while mining production rebounded (2.5 percent vs. -0.1 percent). On a seasonally adjusted quarterly basis, the economy grew by 1.6 percent, following a downwardly revised 1.3 percent rise in the previous quarter and well above market estimates of a 0.2 percent increase. source: Dane, Colombia
GDP Annual Growth Rate in Colombia averaged 3.88 percent from 2001 until 2022, reaching an all time high of 17.50 percent in the second quarter of 2021 and a record low of -15.80 percent in the second quarter of 2020. 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 November of 2022.
GDP Annual Growth Rate in Colombia is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Colombia GDP Annual Growth Rate is projected to trend around 2.50 percent in 2023 and 2.00 percent in 2024, according to our econometric models.