Colombia’s economy expanded by 2.9% year-on-year in the fourth quarter of 2022, following an upwardly revised 7.8% advance in the previous period and missing market expectations for 4% growth. This was the weakest growth rate since the first quarter of 2021, as output slowed markedly in transport & storage (7.2% vs 16.4% in Q3); information & communication (5.7% vs 14.2%); manufacturing (2.7% vs 6.9%) and professional, scientific & technical; administrative services (3.9% vs 8.4%). Concomitantly, declines were seen in construction (-1.9% vs 13.5%), mining (-1.7% vs 2.9%), hotels & restaurants (-2.5% vs 26.4%), wholesale & retail trade (-0.2% vs 3.8%) and agriculture (-4.2% vs -1.5%).On a seasonally adjusted quarterly basis, the GDP increased by 0.7%, up from a downwardly revised 0.5% rise in the previous quarter and better than market estimates of a 0.3% contraction. The Colombian GDP grew 7.5% in 2022, below the government's estimates of 8% and market forecasts of 7.9%. source: Dane, Colombia

GDP Annual Growth Rate in Colombia averaged 3.89 percent from 2001 until 2022, reaching an all time high of 18.90 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 March of 2023.

GDP Annual Growth Rate in Colombia is expected to be 1.20 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 2.00 percent in 2024, according to our econometric models.

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Colombia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-11-15 04:00 PM Q3 7% 12.8% 6.7% 4.7%
2023-02-15 04:00 PM Q4 2.9% 7.8% 4% 3.3%
2023-05-15 05:30 PM Q1 2.9% 1.9%


Related Last Previous Unit Reference
GDP Growth Rate 0.70 0.50 percent Dec 2022
GDP Annual Growth Rate 2.90 7.80 percent Dec 2022
GDP Constant Prices 257792.06 247968.19 COP Billion Dec 2022
Gross Fixed Capital Formation 50015.07 49010.92 COP Billion Dec 2022
GDP from Utilities 7272.38 7204.70 COP Billion Dec 2022
GDP from Transport 12829.47 12812.01 COP Billion Dec 2022
GDP from Mining 9567.08 9440.26 COP Billion Dec 2022
GDP from Manufacturing 30217.43 30537.31 COP Billion Dec 2022
GDP from Construction 11067.98 11146.72 COP Billion Dec 2022
GDP from Agriculture 13931.12 14680.70 COP Billion Dec 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
2.90 7.80 18.90 -15.80 2001 - 2022 percent Quarterly
Constant Prices, NSA, 2015=100

News Stream
Colombia Q4 GDP Growth Misses Forecasts
Colombia’s economy expanded by 2.9% year-on-year in the fourth quarter of 2022, following an upwardly revised 7.8% advance in the previous period and missing market expectations for 4% growth. This was the weakest growth rate since the first quarter of 2021, as output slowed markedly in transport & storage (7.2% vs 16.4% in Q3); information & communication (5.7% vs 14.2%); manufacturing (2.7% vs 6.9%) and professional, scientific & technical; administrative services (3.9% vs 8.4%). Concomitantly, declines were seen in construction (-1.9% vs 13.5%), mining (-1.7% vs 2.9%), hotels & restaurants (-2.5% vs 26.4%), wholesale & retail trade (-0.2% vs 3.8%) and agriculture (-4.2% vs -1.5%).On a seasonally adjusted quarterly basis, the GDP increased by 0.7%, up from a downwardly revised 0.5% rise in the previous quarter and better than market estimates of a 0.3% contraction. The Colombian GDP grew 7.5% in 2022, below the government's estimates of 8% and market forecasts of 7.9%.
2023-02-15
Colombia Economy Expands More Than Expected
Colombia’s economy expanded by 7.0 percent year-on-year in the third quarter of 2022, following an upwardly revised 12.8 percent gain in the previous period and topping market forecasts of 6.7 percent. Both government spending (1.6 percent vs. 4.5 percent in Q2) and private consumption (7.8 percent vs. 14.9 percent) slowed, while gross fixed capital formation expanded faster (16.1 percent vs. 9.8 percent). Regarding net trade, exports increased 14.5 percent (from 30.7 percent in Q2), while imports surged 23.3 percent (from 28.9 percent in Q2). On the production side, manufacturing output slowed sharply (7.0 percent vs. 20.6 percent) while mining production rebounded (2.5 percent vs. -0.1 percent). On a seasonally adjusted quarterly basis, the economy grew by 1.6 percent, following a downwardly revised 1.3 percent rise in the previous quarter and well above market estimates of a 0.2 percent increase.
2022-11-15
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