Colombia's economy shrank 9% year-on-year in the third quarter of 2020, following an upwardly revised 15.8% plunge in the prior period. Figures came slightly worse than market expectations of an 8.6% contraction, amid the lingering effects of the pandemic crisis and a prolonged lockdown until end-August. Among hardest-hit sectors, activity fell less in recreation & entertainment (-29.7% vs -37.1% in Q2); construction (-26.2% vs -33.2%) and retail & wholesale trade, transportation, hotels & restaurants (-20.1% vs -34.1%); mining (-19.1% vs -21.6%); manufacturing (-7.2% vs -25.4%) and professional, scientific, technical and administrative & support (-6.1% vs -10.6%). On the other hand, growth was recorded in real estate activities (1.8% vs 2%); finance & insurance (1.5% vs 1%) and agriculture (1.5% vs -0.1%). On a seasonally adjusted quarterly basis, the GDP grew 8.7%, recovering from an upwardly revised 16.1% plunge in the previous period. source: Dane, Colombia
GDP Annual Growth Rate in Colombia averaged 3.42 percent from 2001 until 2020, reaching an all time high of 8 percent in the third quarter of 2011 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 December of 2020.
GDP Annual Growth Rate in Colombia is expected to be -4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Colombia to stand at 7.00 in 12 months time. In the long-term, the Colombia GDP Annual Growth Rate is projected to trend around 4.80 percent in 2021 and 3.40 percent in 2022, according to our econometric models.