Colombia's economy shrank 3.6% in the fourth quarter of 2020, following an upwardly revised 8.5% contraction in the previous period. Figures came slightly better than market expectations of a 4.3% contraction, despite the reimposition of tighter anti-COVID-19 measures in December. Output fell less primarily in retail & wholesale trade, transportation, hotels & restaurants (-6.6% vs -21.2% in Q3); professional, scientific, technical and administrative & support (-2.5% vs -5.7%); manufacturing (-0.2% vs -6.8%) and arts, entertainment and recreational activities (-7.3% vs -11.3%). Considering the full year of 2020, the economy plunged 6.8%, the first annual contraction in over two decades. On a seasonally adjusted quarterly basis, the GDP grew 6%, slowing from an upwardly revised 9.4% expansion in the third quarter and missing market expectations of a 6.9% rise. source: Dane, Colombia
GDP Annual Growth Rate in Colombia averaged 3.33 percent from 2001 until 2020, reaching an all time high of 7.90 percent in the third quarter of 2011 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 May of 2021.
GDP Annual Growth Rate in Colombia is expected to be 9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Colombia to stand at 3.50 in 12 months time. In the long-term, the Colombia GDP Annual Growth Rate is projected to trend around 3.60 percent in 2022 and 3.40 percent in 2023, according to our econometric models.