Colombia GDP Growth Rate

The Gross Domestic Product (GDP) in Colombia expanded 0.80 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Colombia is reported by the Dane, Colombia. GDP Growth Rate in Colombia averaged 1.09 Percent from 2001 until 2013, reaching an all time high of 3.50 Percent in the second quarter of 2002 and a record low of -0.90 Percent in the first quarter of 2002. Colombia is the third biggest economy in Latin America. From 2001 to 2012, the country has been growing at an average rate of 1 percent on quarter over quarter basis, mostly due to a rise in exports of commodities. Colombia has been a major exporter of oil, coal and coffee. Yet, in order to reach its full growth potential the country needs to improve its infrastructure, security and reduce income inequality. This page provides - Colombia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.80 0.80 3.50 -0.90 1.79 | 2014/03 2001 - 2013 Percent Quarterly

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Colombia GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-06-20 05:00 PM Colombia
GDP Growth Rate QoQ
Q1 2013 0.3% 1.7% (R) 1.99%
2013-09-19 05:06 PM Colombia
GDP Growth Rate QoQ
Q2 2013 2.2% 0.3% 1.09%
2013-12-19 04:00 PM Colombia
GDP Growth Rate QoQ
Q3 2013 1.1% 2.1% (R) 1.73%
2014-03-20 04:50 PM Colombia
GDP Growth Rate QoQ
Q4 2013 0.8% 0.8% (R) 1.54%
2014-06-19 04:00 PM Colombia
GDP Growth Rate QoQ
Q1 2014 0.8% 1.79%
2014-09-18 04:00 PM Colombia
GDP Growth Rate QoQ
Q2 2014 1.62%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 0.80 2013-12-31 0.80 3.50 -0.90 1.79 2014-03-31 Percent [+]
GDP Annual Growth Rate 4.90 2013-12-31 5.40 8.00 0.40 4.73 2014-03-31 Percent [+]
GDP per capita 4252.38 2012-12-31 4143.00 4252.38 1452.07 4462.36 2014-06-30 USD [+]
GDP per capita PPP 9124.45 2012-12-31 8889.74 9124.45 5182.86 9592.29 2014-06-30 USD [+]
GDP Constant Prices 124601.00 2013-11-15 123590.00 124601.00 3862.00 128181.17 2014-06-30 COP Billion [+]
Gross Fixed Capital Formation 34027.00 2013-11-15 34200.00 34472.00 9533.00 34552.27 2014-03-31 COP Billion [+]
GDP 369.80 2012-12-31 336.30 369.80 4.00 428.33 2014-06-30 USD Billion [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' 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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