Colombia’s GDP expanded by 12.6 percent year-on-year in the second quarter of 2022, following an upwardly revised 8.6 percent rise and topping market forecasts of 12 percent. It was the strongest growth rate since the third quarter of 2021, mainly driven by retail & wholesale trade (23.3 percent); manufacturing (20.3 percent); information & communication (17.2 percent); technical, scientific & professional activities (12.3 percent) and entertainment, arts & recreational activities (36.5 percent). On a seasonally adjusted quarterly basis, the economy grew by 1.5 percent, following an upwardly revised 1.4 percent rise in the previous quarter and missing market estimates of a 1.7 percent increase. source: Dane, Colombia

GDP Annual Growth Rate in Colombia averaged 3.84 percent from 2001 until 2022, reaching an all time high of 17.50 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 August of 2022.

GDP Annual Growth Rate in Colombia is expected to be 6.30 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 2.50 percent in 2023 and 2.00 percent in 2024, according to our econometric models.

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Colombia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-16 05:30 PM Q1 8.5% 10.8% 7.7% 6.5%
2022-08-16 04:00 PM Q2 12.6% 8.6% 12% 7.5%
2022-11-15 04:00 PM Q3 12.6%


Related Last Previous Unit Reference
GDP Growth Rate 1.50 1.40 percent Jun 2022
GDP Annual Growth Rate 12.60 8.60 percent Jun 2022
GDP Constant Prices 239160.00 227617.00 COP Billion Jun 2022
Gross Fixed Capital Formation 43980.96 40628.97 COP Billion Mar 2022
GDP From Construction 11145.00 11350.00 COP Billion Jun 2022
GDP From Agriculture 13663.00 13879.00 COP Billion Jun 2022
GDP From Mining 9011.00 9130.00 COP Billion Jun 2022
GDP From Utilities 6979.00 6825.80 COP Billion Jun 2022
GDP From Transport 11049.22 11711.29 COP Billion Mar 2022
GDP From Manufacturing 28224.79 30056.99 COP Billion Mar 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
12.60 8.60 17.50 -15.80 2001 - 2022 percent Quarterly
NSA

News Stream
Colombia Q2 GDP Growth Beats Forecasts
Colombia’s GDP expanded by 12.6 percent year-on-year in the second quarter of 2022, following an upwardly revised 8.6 percent rise and topping market forecasts of 12 percent. It was the strongest growth rate since the third quarter of 2021, mainly driven by retail & wholesale trade (23.3 percent); manufacturing (20.3 percent); information & communication (17.2 percent); technical, scientific & professional activities (12.3 percent) and entertainment, arts & recreational activities (36.5 percent). On a seasonally adjusted quarterly basis, the economy grew by 1.5 percent, following an upwardly revised 1.4 percent rise in the previous quarter and missing market estimates of a 1.7 percent increase.
2022-08-16
Colombia Q1 GDP Growth Slows Less than Expected
Colombia’s economic output advanced 8.5 percent year-on-year in the first quarter of 2022, easing from a 10.8 percent expansion in the previous period, but above market expectations of a 7.7 percent increase. Output slowed significantly for mining and quarrying activities (1 percent vs 7 percent in Q4); construction (5.2 percent vs 6.8 percent); wholesale and retail trade (15.3 percent vs 19.4 percent); public administration and defence (6.2 percent vs 7.1 percent). Further, output declined for agriculture (-2.5 percent vs 3.1 percent); and financial and insurance activities (-3.2 percent vs 3.5 percent). On the other hand, production accelerated for the entertainment, arts and recreational activities (35.7 percent vs 32.2 percent); and information and communications (20.6 percent vs 18.9 percent). On a seasonal and calendar adjusted quarterly basis, the economy expanded 1 percent, slowing from a downwardly revised 2.5 percent expansion in the prior period.
2022-05-16
Colombia Q4 GDP Growth Beats Forecasts
Colombia’s economic output advanced 10.8 percent year-on-year in the final quarter of 2021, following an upwardly revised 13.5 percent expansion in the previous period and above market expectations of 8.7 percent. The strongest growth rates were seen in entertainment, arts & recreational activities (31.6 percent vs 31.7 percent in Q3); wholesale & retail trade (21.2 percent vs 34.6 percent); information & communication (18.1 percent vs 13.1 percent); manufacturing activities (11.7 percent vs 18.6 percent); and support & administrative services and technical, scientific & professional activities (10.1 percent vs 12.4 percent). On a seasonal and calendar adjusted quarterly basis, the economy expanded 4.3 percent, slowing from a 6.1 percent expansion in the prior period. Considering 2021 as a whole, GDP jumped 10.3 percent, rebounding solidly from a 7.3 percent contraction in the previous year.
2022-02-15