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.