The Gross Domestic Product (GDP) in Colombia contracted 2.40 percent in the second quarter of 2021 over the previous quarter. source: Dane, Colombia

GDP Growth Rate in Colombia averaged 0.88 percent from 2001 until 2021, reaching an all time high of 9.40 percent in the third quarter of 2020 and a record low of -14.80 percent in the second quarter of 2020. This page provides - Colombia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Colombia GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.

GDP Growth Rate in Colombia is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Colombia GDP Growth Rate is projected to trend around 0.80 percent in 2022, according to our econometric models.

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Colombia GDP Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2020-11-17 04:30 PM Q3 8.7% -16.1% 9% 9.3%
2021-02-15 05:00 PM Q4 6% 9.4% 6.9% 6.5%
2021-05-14 04:00 PM Q1 2.9% 6.1% 0.5% 0.8%
2021-08-17 04:30 PM Q2 -2.4% 2.9% -2.2% 0.5%
2021-11-16 04:00 PM Q3

Colombia Last Unit Reference Previous Highest Lowest
GDP Growth Rate -2.40 percent Jun/21 2.90 9.40 -14.80
GDP Annual Growth Rate 17.60 percent Jun/21 1.10 17.60 -15.80
GDP Constant Prices 213141.52 COP Billion Jun/21 208707.11 238714.59 100710.10
Gross Fixed Capital Formation 38428.56 COP Billion Jun/21 45730.17 49982.51 9542.00
GDP From Utilities 6482.17 COP Billion Jun/21 6514.38 6876.97 2895.00
GDP From Transport 8916.00 COP Billion Jun/21 9182.33 11437.74 4460.00
GDP From Mining 8947.73 COP Billion Jun/21 8863.32 12711.10 4899.00
GDP From Manufacturing 25129.84 COP Billion Jun/21 25972.74 27283.34 9441.00
GDP From Construction 10391.50 COP Billion Jun/21 11086.21 15375.17 2927.00
GDP From Agriculture 13537.32 COP Billion Jun/21 14233.17 14714.33 5454.00

Colombia GDP Growth Rate
Colombia is the fourth biggest economy in Latin America. In recent years, the country has been growing rapidly, mostly due to a rise in exports of commodities such as oil, coal and coffee. The biggest and the fastest growing sector of Colombian economy is services (53 percent of GDP) including: financing, insurance, real estate and business services; community, social and personal services; trade, repairs, restaurants and hotels and transport, warehousing and communication. Manufacturing, mining and quarrying create 20 percent of the wealth. Other sectors include: government (10 percent), agriculture, hunting, forestry and fishing (6.3 percent); construction (6 percent) and electricity, gas and water distribution (4 percent).