This page has economic forecasts for Colombia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Colombia economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.60 0.8 0.9 1 1 1.4 percent
Unemployment Rate 9.50 8.8 9.3 9.2 9.2 9.2 percent
Inflation Rate 3.33 3.2 3.3 3.3 3.5 3.2 percent
Interest Rate 4.25 4.25 4.25 4.5 4.5 4.5 percent
Balance of Trade -1.00 -0.5 -0.5 -0.6 -0.76 -0.6 USD Billion
Government Debt to GDP 48.50 50 52 52 52 53 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 3174.25
3026 3053 3081 3108 3222
Stock Market 1419.91
points
1505 1491 1477 1464 1410
Government Bond 10Y 7.10
percent
6.95 7.02 7.08 7.15 7.42
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.60
percent
0.8 0.9 1 1 1.4
GDP Annual Growth Rate 2.80
percent
2.7 2.8 3 3.2 3.3
GDP 309.19
USD Billion
345 370 370 370 375
GDP Constant Prices 209544.60
COP Billion
232997 206567 215831 216250 248148
Gross Fixed Capital Formation 46630.36
COP Billion
38244 47255 48029 48123 40731
GDP per capita 7600.76
USD
7790 8400 8400 8400 8600
GDP per capita PPP 13254.95
USD
13285 13530 13530 13530 13900
GDP From Agriculture 12945.80
COP Billion
13626 14072 13334 13360 14512
GDP From Construction 13046.86
COP Billion
16884 13057 13438 13464 17982
GDP From Manufacturing 25216.70
COP Billion
27104 24446 25973 26024 28866
GDP From Mining 10709.40
COP Billion
11582 10773 11031 11052 12336
GDP From Transport 10258.45
COP Billion
10820 10201 10566 10587 11523
GDP From Utilities 6210.00
COP Billion
6559 6236 6396 6409 6986
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 9.50
percent
8.8 9.3 9.2 9.2 9.2
Unemployed Persons 2378.34
Thousand
2300 2400 2380 2390 2500
Population 49.29
Million
49.69 50.1 50.1 50.1 50.6
Wages High Skilled 2598000.00
COP/Month
2502030 2480000 2480000 2480000 2508498
Wages Low Skilled 899500.00
COP/Month
828000 834000 834000 834000 850000
Labor Force Participation Rate 64.10
percent
64.5 63.96 63.97 63.96 65
Living Wage Family 1095100.00
COP/Month
1140660 1135353 1135353 1135353 1096364
Living Wage Individual 782100.00
COP/Month
778923 753328 781232 781232 754717
Employed Persons 22703.86
Thousand
22475 22673 22637 22658 22650
Employment Rate 58.28
percent
57.91 58.21 58.16 58.18 58.17
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 3.33
percent
3.2 3.3 3.3 3.5 3.2
Inflation Rate Mom 0.12
percent
0.2 0.4 0.5 0.3 0.3
Consumer Price Index CPI 142.67
Index Points
143 146 147 147 153
Core Consumer Prices 146.50
Index Points
148 150 151 152 158
Core Inflation Rate 3.56
percent
3.5 3.49 3.48 3.48 3.47
Producer Prices 117.52
Index Points
120 120 123 126 141
Food Inflation 2.30
percent
1.4 1.3 1.4 1.4 1.6
Producer Prices Change 7.78
percent
7.9 8.1 8.4 8.4 8.5
CPI Housing Utilities 147.28
Index Points
147 148 150 152 156
CPI Transportation 133.45
Index Points
133 136 137 138 142
Export Prices 118.64
Index Points
109 109 109 110 109
Import Prices 116.58
Index Points
115 117 118 118 118
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 4.25
percent
4.25 4.25 4.5 4.5 4.5
Interbank Rate 4.25
percent
4.26 4.26 4.51 4.51 4.51
Money Supply M0 53646.29
COP Billion
53340 53311 53299 53298 53298
Money Supply M1 100191.52
COP Billion
100306 100313 100311 100311 100311
Money Supply M3 477315.98
COP Billion
484965 490060 495460 500825 547024
Foreign Exchange Reserves 47518.16
USD Million
47532 47544 47547 47550 47553
Deposit Interest Rate 6.00
percent
6 6 6.25 6.25 6.25
Money Supply M2 437095.44
COP Billion
444227 448492 453037 457546 495828
Central Bank Balance Sheet 184042.30
COP Billion
184986 184702 184778 184643 184676
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -1.00
USD Billion
-0.5 -0.5 -0.6 -0.76 -0.6
Exports 3.50
USD Billion
9 10.1 3.53 3.53 7.4
Imports 4.58
USD Billion
3.5 4.7 5.3 4.46 4.2
Current Account -3215.00
USD Million
-1800 -2000 -2200 -2300 -2300
Current Account to GDP -3.30
percent
-2.6 -2.7 -2.7 -2.7 -2.8
External Debt 126191.69
USD Million
127000 127100 127150 127200 127000
Foreign Direct Investment 3661.60
USD Million
3184 3297 3308 3282 3295
Capital Flows -3032.46
USD Million
-2477 -2712 -2825 -2716 -2710
Remittances 528.70
USD Million
490 522 521 521 540
Gold Reserves 12.80
Tonnes
12.81 12.92 12.91 12.92 12.92
Crude Oil Production 860.00
BBL/D/1K
861 861 861 861 861
Terms Of Trade 145.29
Index Points
94.86 93.23 93.07 93.06 92.56
Terrorism Index 5.60
6 5.9 5.9 5.9 5.9
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 48.50
percent
50 52 52 52 53
Government Budget -3.00
percent of GDP
-2.9 -2.8 -2.8 -2.8 -3
Government Budget Value 506.18
COP Billion
-4214 -3832 -4277 -3802 -4047
Government Spending 33019.08
COP Billion
25646 34201 34010 34076 27314
Government Revenues 14947.18
COP Billion
13559 11736 12189 12180 12127
Fiscal Expenditure 14441.00
COP Billion
17773 15568 16465 15982 16175
Military Expenditure 8976.14
USD Million
9305 9395 9395 9395 9400
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence 3.80
Index Points
-1 1.8 3 4.5 5.4
Industrial Production 3.90
percent
1.7 -0.4 7.2 3 2.8
Total Vehicle Sales 13983.00
Cars
13041 12800 12777 12781 12783
Car Registrations 19315.00
19214 19227 19228 19228 19228
Leading Economic Index 2.31
percent
2.7 2.8 2.8 2.9 2.8
Internet Speed 5523.06
KBps
6262 6367 6509 6646 7796
IP Addresses 5185338.00
IP
4579935 4693934 4548981 4654391 4532621
Steel Production 90.00
Thousand Tonnes
98.48 97.16 97.06 97.18 97.15
Manufacturing Pmi 52.00
53.8 54 54.2 54.4 54.6
Cement Production 1083220.00
Tonnes
1150000 1120000 1100000 1097660 1300000
Competitiveness Index 61.63
Points
62.13 62.13 62.13 62.13 64.63
Competitiveness Rank 60.00
60 60 60 60 60
Capacity Utilization 81.29
percent
81.02 81 81 81 81
Corruption Index 37.00
Points
37 37 37 37 37
Corruption Rank 96.00
96 96 96 96 96
Ease of Doing Business 65.00
62 64 64 64 61
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence -0.70
Index Points
4 5 4 4 6
Retail Sales MoM 0.70
percent
1.7 -15 1.64 1.64 1.6
Retail Sales YoY 5.50
percent
3.4 3.8 4.4 5.7 4.1
Consumer Spending 145239.70
COP Billion
91508 148244 149597 149887 97458
Private Sector Credit 210769.60
COP Million
214681 213506 213032 212737 212268
Consumer Credit 130477.27
COP Billion
134230 136910 139532 142099 162888
Households Debt To GDP 25.68
percent of GDP
25.46 25.37 25.34 25.27 25.06
Gasoline Prices 0.78
USD/Liter
0.75 0.71 0.67 0.62 0.53
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Housing Index 128.27
Index Points
133 135 137 139 158
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 34.00
percent
34 34 34 34 34
Personal Income Tax Rate 33.00
percent
33 33 33 33 33
Sales Tax Rate 19.00
percent
19 19 19 19 19
Social Security Rate 30.50
percent
30.5 30.5 30.5 30.5 30.5
Social Security Rate For Companies 20.50
percent
20.5 20.5 20.5 20.5 20.5
Social Security Rate For Employees 10.00
percent
10 10 10 10 10
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 96.30
mm
211 136 200 200 224
Temperature 25.45
celsius
24.61 25.13 25.35 25.35 25.32



Colombia - Economic Forecasts - 2018-2020 Outlook