Colombia’s GDP expanded 17.6 percent year-on-year in the second quarter of 2021, following a 1.1 percent advance in the previous period and above market expectations of 15.6 percent. Output advanced faster for manufacturing (32.5 percent vs 7 percent in Q1); public administration, defense, education, and health (9 percent vs 3.4 percent) and agriculture (3.8 percent vs 3.7 percent). Also, production rebounded for both mining (7.1 percent vs -14.8 percent) and construction (17.3 percent vs -6.6 percent). On a seasonally adjusted quarterly basis, the economy shrank 2.4 percent, after a 2.9 percent expansion in Q1. It was the first quarterly contraction since the three months to June of 2020. source: Dane, Colombia

GDP Annual Growth Rate in Colombia averaged 3.48 percent from 2001 until 2021, reaching an all time high of 17.60 percent in the second quarter of 2021 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 September of 2021.

GDP Annual Growth Rate in Colombia is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.

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Colombia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
17.60 1.10 17.60 -15.80 2001 - 2021 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-15 04:00 PM Q3 -9% -15.8% -8.6% -8.8%
2021-02-15 05:00 PM Q4 -3.6% -8.5% -4.3% -4.5%
2021-05-14 04:00 PM Q1 1.1% -3.6% -1% -1.1%
2021-08-17 04:30 PM Q2 17.6% 1.1% 15.6% 10%
2021-11-16 04:00 PM Q3 17.6%


News Stream
Colombia Economy Grows More than Estimated in Q2
Colombia’s GDP expanded 17.6 percent year-on-year in the second quarter of 2021, following a 1.1 percent advance in the previous period and above market expectations of 15.6 percent. Output advanced faster for manufacturing (32.5 percent vs 7 percent in Q1); public administration, defense, education, and health (9 percent vs 3.4 percent) and agriculture (3.8 percent vs 3.7 percent). Also, production rebounded for both mining (7.1 percent vs -14.8 percent) and construction (17.3 percent vs -6.6 percent). On a seasonally adjusted quarterly basis, the economy shrank 2.4 percent, after a 2.9 percent expansion in Q1. It was the first quarterly contraction since the three months to June of 2020.
2021-08-17
Colombia Economy Unexpectedly Expands in Q1
Colombia's economy expanded 1.1 percent year-on-year in the first quarter of 2021, following a 3.6 percent drop in the previous period and against market expectations of a 1 percent contraction. It was the first expansion since the COVID-19 outbreak, as manufacturing production rebounded sharply (7.0 percent vs -0.2 percent in Q4) while output advanced further for public administration, defence, education, and health (3.5 percent vs 2.6 percent) and agriculture (3.3 percent vs 2.4 percent). On a seasonally adjusted quarterly basis, the GDP grew 2.9 percent, following a revised 6.1% gain in the previous quarter.
2021-05-14
Colombia Economy Contracts Less than Expected in Q4
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.
2021-02-15
Colombia Economy Contracts More than Estimated in Q3
Colombia's economy shrank 9% year-on-year in the third quarter of 2020, following an upwardly revised 15.8% plunge in the prior period. Figures came slightly worse than market expectations of an 8.6% contraction, amid the lingering effects of the pandemic crisis and a prolonged lockdown until end-August. Among hardest-hit sectors, activity fell less in recreation & entertainment (-29.7% vs -37.1% in Q2); construction (-26.2% vs -33.2%) and retail & wholesale trade, transportation, hotels & restaurants (-20.1% vs -34.1%); mining (-19.1% vs -21.6%); manufacturing (-7.2% vs -25.4%) and professional, scientific, technical and administrative & support (-6.1% vs -10.6%). On the other hand, growth was recorded in real estate activities (1.8% vs 2%); finance & insurance (1.5% vs 1%) and agriculture (1.5% vs -0.1%). On a seasonally adjusted quarterly basis, the GDP grew 8.7%, recovering from an upwardly revised 16.1% plunge in the previous period.
2020-11-17

Colombia GDP Annual Growth Rate
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).