Markets Actual Q2 Q3 Q4 Q1 2022
Currency 3772.60 3804 3842 3880 3919 3996
Stock Market (points) 1248.06 1205 1154 1106 1059 967
Government Bond 10Y (%) 7.09 7.18 7.31 7.44 7.58 7.85

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 2.90 0.9 0.6 0.5 0.5 0.8
GDP Annual Growth Rate (%) 1.10 10 6 5 3.5 3.6
Unemployment Rate (%) 15.10 13.5 13.1 12.8 12.5 12.1
Inflation Rate (%) 3.30 4.6 7.3 5.5 3.2 3.1
Inflation Rate Mom (%) 1.00 0.5 0.4 0.4 0.3 0.3
Interest Rate (%) 1.75 1.75 1.75 1.75 2 2.5
Balance of Trade (USD Billion) -1.80 -0.5 -1.4 0.2 -1.1 -1.2
Current Account (USD Million) -3633.00 -2300 -3500 -3200 -3400 -2800
Current Account to GDP (% of GDP) -3.40 -3.6 -3.6 -3.6 -3.8 -3.8
Government Debt to GDP (% of GDP) 62.80 64 64 64 64 64
Government Budget (% of GDP) -7.80 -8.5 -8.5 -8.5 -5.5 -5.5
Business Confidence (points) -5.10 4.8 5 5.5 3.7 5.5
Consumer Confidence (points) -34.30 -10 -8 3 5 6
Retail Sales MoM (%) 10.30 5 3 4.3 -2 4
Corporate Tax Rate (%) 31.00 34 33 34 34 34
Personal Income Tax Rate (%) 39.00 33 39 39 39 39

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 2.90 0.9 0.6 0.5 0.5 0.8
GDP Annual Growth Rate (%) 1.10 10 6 5 3.5 3.6
GDP (USD Billion) 323.80 310 310 310 310 320
GDP Constant Prices (COP Billion) 208707.11 199242 216017 241509 216012 250204
Gross Fixed Capital Formation (COP Billion) 45730.17 32069 40250 40449 47331 41905
GDP per capita (USD) 7842.90 7700 7700 7700 7700 7800
GDP per capita PPP (USD) 14730.88 14350 14350 14350 14350 14480
GDP From Agriculture (COP Billion) 14233.17 14299 15597 15011 14731 15551
GDP From Construction (COP Billion) 11086.21 9191 11027 11293 11474 11699
GDP From Manufacturing (COP Billion) 25972.74 21190 26511 28581 26882 29610
GDP From Mining (COP Billion) 8863.32 9203 9399 9481 9174 9822
GDP From Transport (COP Billion) 9182.33 7564 8621 9985 9504 10344
GDP From Utilities (COP Billion) 6813.00 6535 6961 7154 7051 7411

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 15.10 13.5 13.1 12.8 12.5 12.1
Unemployed Persons (Thousand ) 3626.00 3600 3400 3200 3050 3200
Population (Million) 50.37 50.91 50.91 51.45 51.45 51.99
Labor Force Participation Rate (%) 60.30 60.3 60.6 61 60.7 62
Minimum Wages (COP/Month) 908526.00 908526 908526 908526 970000 970000
Employed Persons (Thousand) 20465.00 21300 22100 22500 21700 22500
Employment Rate (%) 50.84 51 51.5 52 51.7 53

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 3.30 4.6 7.3 5.5 3.2 3.1
Inflation Rate Mom (%) 1.00 0.5 0.4 0.4 0.3 0.3
Consumer Price Index CPI (points) 108.84 110 113 111 111 115
Core Consumer Prices (points) 107.98 107 107 111 108 110
Core Inflation Rate (%) 2.79 2.3 2.2 2 1.8 2.3
Producer Prices (points) 135.08 135 135 130 133 132
Food Inflation (%) 9.52 4.8 4.2 3.7 3.2 4
Producer Prices Change (%) 18.77 17 14 8.9 3.2 1.5
CPI Housing Utilities (points) 107.22 109 112 111 110 115
CPI Transportation (points) 107.41 107 111 111 110 114
Export Prices (points) 134.33 115 115 114 114 113
Import Prices (points) 137.82 131 130 130 130 128

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 1.75 1.75 1.75 1.75 2 2.5
Interbank Rate (%) 1.75 1.76 1.76 1.76 2.01 2.26
Money Supply M0 (COP Billion) 93239.97 93000 91700 91200 90800 90000
Money Supply M1 (COP Billion) 165721.31 165000 145000 125000 117000 105000
Money Supply M3 (COP Billion) 626145.37 630000 600000 580000 565000 555000
Foreign Exchange Reserves (USD Million) 59143.96 57800 57500 57300 56900 56800
Deposit Interest Rate (%) 3.38 3.38 3.38 3.38 3.63 3.88
Money Supply M2 (COP Billion) 575393.06 575000 545000 530000 522000 500000
Central Bank Balance Sheet (COP Billion) 271883.00 274833 278998 283163 287327 299821

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (USD Billion) -1.80 -0.5 -1.4 0.2 -1.1 -1.2
Current Account (USD Million) -3633.00 -2300 -3500 -3200 -3400 -2800
Current Account to GDP (% of GDP) -3.40 -3.6 -3.6 -3.6 -3.8 -3.8
Imports (USD Billion) 4.70 4 4.1 4.5 4.3 4.6
Exports (USD Billion) 2.91 3.5 2.7 3 3.2 3.4
External Debt (USD Million) 153628.40 150100 150300 150600 151300 151500
Foreign Direct Investment (USD Million) 2211.23 2350 2600 2700 1800 3000
Capital Flows (USD Million) -3162.43 -2100 -2400 -2650 -1800 -2800
Remittances (USD Million) 563.80 510 570 610 540 630

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (% of GDP) 62.80 64 64 64 64 64
Government Budget (% of GDP) -7.80 -8.5 -8.5 -8.5 -5.5 -5.5
Government Budget Value (COP Billion) -11328.49 -7800 -9000 -4047 -6300 -5500
Government Spending (COP Billion) 37730.57 40550 39419 39259 39051 40672
Government Revenues (COP Billion) 11922.57 10500 13200 12600 11400 13000
Fiscal Expenditure (COP Billion) 23251.05 19500 19000 18900 19100 18500
Military Expenditure (USD Million) 10133.00 10100 10100 10100 10300 10300

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 31.00 34 33 34 34 34
Personal Income Tax Rate (%) 39.00 33 39 39 39 39
Sales Tax Rate (%) 19.00 19 19 19 19 19
Social Security Rate (%) 30.50 30.5 30.5 30.5 30.5 30.5
Social Security Rate For Companies (%) 20.50 20.5 20.5 20.5 20.5 20.5
Social Security Rate For Employees (%) 10.00 10 10 10 10 10

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) -5.10 4.8 5 5.5 3.7 5.5
Industrial Production (%) 63.70 15 6.5 7 3 3.5
Total Vehicle Sales (Units) 7734.00 8800 9600 9000 8500 9600
Car Registrations 19648.00 22800 23200 25000 24700 26000
Leading Economic Index (%) 28.70 15 6.5 5 2.4 3.9
Industrial Production Mom (%) 1.30 2 0.8 1 1.2 1.4
Manufacturing PMI (points) 46.70 50 52 52.5 51.8 53
Cement Production (Tonnes) 1135900.00 1180000 1200000 1190000 1165000 1250000
Capacity Utilization (%) 78.69 80.2 80.5 80.7 78 81

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -34.30 -10 -8 3 5 6
Retail Sales MoM (%) 10.30 5 3 4.3 -2 4
Retail Sales YoY (%) 75.00 7 8.5 6 4 4.5
Consumer Spending (COP Billion) 157805.35 142706 148804 159197 163329 164928
Private Sector Credit (COP Million) 249592.32 357696 345928 267539 275260 277171
Consumer Credit (COP Billion) 161642.65 171742 165716 168419 167300 174482
Gasoline Prices (USD/Liter) 0.63 0.6 0.57 0.68 0.51 0.49
Households Debt To GDP (% of GDP) 32.00 28.5 28.3 28.3 28.3 28

Housing Actual Q2 Q3 Q4 Q1 2022
Housing Index (points) 101.55 146 148 148 150 155


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.