The Colombian economy advanced 2.7 percent year-on-year in the third quarter of 2018, following a 2.8 percent growth in the previous period and matching market expectations. Output rose at a slower pace for: finance & insurance (1.7% vs 2.7% in Q2); professional services (3.6% vs 5.6%); public administration (4.5% vs 5.3%); arts & entertainment (1.0% vs 3.4%); trade, repairs, restaurants & hotels and transportation (2.6% vs 3.7%); manufacturing (2.9% vs 3.6%) and agriculture (0.1% vs 5.8%). In contrast, both the mining sector (1.0% vs -2.6%) and the construction sector (1.8% vs -6.0%) recovered. Also, faster growth was seen in information & communication (3.7% vs 2.5%) and utilities (3.0% vs 2.3%). On quarter, the GDP expanded 0.2 percent, the least in a year, after a 0.6 percent advance in the second quarter and below market expectations of a 0.4 percent rise. GDP Annual Growth Rate in Colombia averaged 3.94 percent from 2001 until 2018, reaching an all time high of 8.50 percent in the third quarter of 2011 and a record low of 0.30 percent in the fourth quarter of 2008.
GDP Annual Growth Rate in Colombia is expected to be 2.70 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 3.20 in 12 months time. In the long-term, the Colombia GDP Annual Growth Rate is projected to trend around 3.30 percent in 2020, according to our econometric models.