Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
  • About us
  • Support us
  • Contact Us
  • Intelligence
  • Advertising
  • Newsletter
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
Colombia car factory
(Photo: Intereconomia)
Economy

Colombia GDP grows 4.28% in Q2, led by construction

by Samuel Moldovan September 17, 2014

Colombia’s economy grew 4.28% in the second quarter, buoyed by strong performance in the construction sector, according to Colombian statistics agency DANE.

The increase in Gross Domestic Product (GDP), calculated over the same period (April-June) in 2013, is greater than the average quarterly GDP growth rate of 4.19% since 2008.

Out of the nine industries tracked by DANE, construction led the charge with a 10.15% increase, followed by financial services at 6.12% and social services at 5.81%. Only two industries, mining and manufacturing, reported downturns from the 2013 second quarter.

Construction’s thrust was primarily due to an 18% increase in civil engineering projects, where financial services grew mainly because of an 8.82% rise in leasing actions, and social services mainly because of health and education activity increases.

Though most industries reported higher total GDP contributions than they did during January-March, none of them beat their year over year first quarter growth rates (except financial services, rising a meager .08% more).

Colombia’s economic growth since 2000

Growth in the first quarter of this year was 6.51%.

However, Colombia’s second quarter growth was greater than some of its toughest regional competitors – Brazil’s economy contracted 0.9%, while Peru and Chile grew by 1.7% and 1.9%, respectively.

The Colombian Central Bank has raised interest rates five months in a row to 4.5%, believing the economy to be operating at “near its potential,” according to finance minister Luis Cardenas.

Sources

  • DANE GDP Statistics (DANE)
  • Colombia Growth Slows More Than Forecast Amid Rebel Attacks (Bloomberg)
Central BankeconomyGDP

Trending

  • Tensions in Colombia over lost COVID-19 vaccine shots

  • Colombia’s COVID-19 vaccination campaign shows first cracks

  • Coronavirus crisis bankrupted 500K of Colombia’s small businesses

Weekly interviews and news updates

Related articles

  • Colombia’s top bankers could face 4 years in prison, but evidence of tax evasion ignored

  • Colombia not considering new coronavirus lockdown

  • Colombia’s central bank elects IMF executive as new president

  • Facebook
  • Twitter
  • Linkedin
  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top