Colombia Current Account to GDP

Colombia recorded a Current Account deficit of 3.40 percent of the country's Gross Domestic Product in 2013. Current Account to GDP in Colombia is reported by the Banco de la República de Colombia. Current Account to GDP in Colombia averaged -1.90 Percent from 1980 until 2013, reaching an all time high of 4.10 Percent in 1991 and a record low of -5.30 Percent in 1982. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Colombia Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-3.40 -3.20 4.10 -5.30 -3.42 | 2014/12 1980 - 2013 Percent Yearly

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Colombia Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
Current Account -3395.80 2013-11-15 -3784.80 355.90 -3784.80 -3486.69 2014-03-31 USD Million [+]
Current Account to GDP -3.40 2013-12-31 -3.20 4.10 -5.30 -3.42 2014-12-31 Percent [+]
Capital Flows 4374.93 2013-11-15 5638.00 5638.00 -709.42 4664.47 2014-03-31 USD Million [+]
Crude Oil Production 986.00 2013-10-15 995.00 1031.00 356.00 1022.86 2013-11-30 Thousands Barrels per Day [+]
External Debt -50.74 2014-02-15 3847.52 4018.45 -3130.97 -285.43 2014-03-31 COP Billion [+]
Foreign Direct Investment 4157.60 2013-11-15 4967.40 6773.10 197.20 4885.50 2014-03-31 USD Million [+]
Remittances 1049.31 2013-11-15 1035.46 1311.91 162.44 1059.22 2014-03-31 USD Million [+]
Balance of Trade -0.07 2014-01-15 0.34 0.81 -1.02 0.20 2014-02-28 USD Billion [+]
Exports 4.27 2014-02-15 4.78 5.71 0.02 4.61 2014-03-31 USD Billion [+]
Imports 4.84 2014-01-15 4.94 5.55 0.28 4.46 2014-02-28 USD Billion [+]
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Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


RELATED NEWS

Colombia Leaves Rates on Hold  
At its March 21st, 2014 meeting, Central Bank of Colombia left the benchmark interest rate steady at 3.25 percent and decided to extend its dollar purchase program, and buy up to $1 billion through June.
Colombia Posts $0.7B Trade Deficit  
In the first month of 2014, Colombian trade balance turned into a USD 0.7 billion gap, down from a USD 0.34 billion surplus in the previous month. Compared with the same month last year, the trade gap narrowed 79 percent, as imports shrank at a faster pace than exports.
Colombia Leaves Monetary Policy Unchanged  
At its February 28th, 2014 meeting, Central Bank of Colombia decided to leave the benchmark interest rate unchanged at 3.25 percent, as widely expected, saying that interest rates remain at levels that stimulate aggregate spending.
Colombian Trade Balance Returns to Surplus  
In December of 2013, Colombia’s trade balance turned into a USD 340 million surplus, up from a revised USD 100 million deficit in the previous month. A year earlier, the country recorded a USD 410 million surplus.
Colombia Holds Interest Rate Steady  
Colombia's central bank maintained its benchmark interest rate at 3.25 percent as expected as inflation continues to converge toward the bank’s 3.0 percent target and the economy is poised to pick up pace in 2014.
Colombia Trade Deficit Narrows in November  
Colombia trade balance turned into a USD 100 million deficit in November of 2013, decreasing from a USD 510 million deficit in the previous month and a USD 320 million deficit a year earlier. Exports rose 2.5 percent yoy, after falling in the previous two months.
Colombia Leaves Key Policy Rate on Hold in December  
At its December 20th meeting, Central Bank of Colombia decided by a unanimous vote to leave the benchmark interest rate unchanged at 3.25 percent, as the economy is improving.
Colombia Posts Trade Deficit for the Second Straight Month  
In October of 2013, Colombian trade balance turned into a deficit of USD 0.5 billion, from USD -0.3 billion in the previous month and a surplus of USD 0.23 billion last year. While exports recorded the second highest annual drop this year, imports from the US surged 20.5 percent.
Colombia Monetary Policy Unchanged in November  
Colombia’s Central Bank decided on November 27th to leave the benchmark interest rate on hold at 3.25 percent for the eight straight time, as widely expected.
Colombia Posts Trade Deficit in September  
In September of 2013, Colombian trade balance turned into a 0.3 USD billion deficit, from a 0.23 billion USD surplus a year earlier, as non-monetary gold sales reported a large drop, while imports were up by 10 percent.
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