Colombia Economic Outlook
February 18, 2020According to preliminary GDP data, economic growth moderated marginally in the fourth quarter of 2019 amid somewhat softer domestic demand dynamics, after having expanded at the fastest pace in over four years in Q3. That said, the economy gained momentum when looking at 2019 as a whole: Low interest rates, higher disposable incomes and higher remittance inflows fueled household consumption, while upbeat business confidence and VAT deductions on capital good purchases supported fixed investment. In other news, on 3 February the government updated its Financing Plan for 2020. The plan maintains a narrower fiscal deficit target of 2.2% of GDP, with tax revenue expected to remain unchanged from 2019 at 14.3% of GDP, despite lower corporate taxes owing to the recently approved tax reform.
Colombia Economic GrowthEconomic growth should remain healthy this year, underpinned by fixed investment growth—amid lower corporate taxes and fiscal exemptions—and still-solid private consumption growth. Key risks to the outlook include a fairly elevated external debt burden, as well as social unrest and political tensions, which could hurt consumer and investor confidence. FocusEconomics panelists project GDP to grow 3.2% in 2020, which is unchanged from last month’s forecast, and 3.2% again in 2021.
Colombia Economy Data
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|Bond Yield||6.08||0.0 %||Dec 30|
|Exchange Rate||3,287||-0.17 %||Jan 01|
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Colombia Economic News
March 16, 2020
The Colombian peso dived sharply in early March amid the rapid spread of the coronavirus pandemic and the significant drop in oil prices.
March 13, 2020
Industrial production from the manufacturing sector increased 3.7% in an annual basis in the first month of 2020, following the revised 3.5% rise in December (previously reported: +3.2% year-on-year) and marking the highest reading since July 2019, according to the Statistical Institute (DANE).
March 6, 2020
bet360备用网址Consumer prices rose 0.67% over the previous month in February, accelerating from January’s 0.42% increase and marking the fastest rise in two years.
March 3, 2020
Business conditions in Colombia’s manufacturing sector continued to improve in February, although at a softer pace than in January.
March 2, 2020
bet360备用网址Exports jumped 11.7% in January over the same month a year earlier, contrasting the 1.9% year-on-year drop in December.