Economy

Colombia Economy

Despite the global vagaries of the mining business and potential volatility in hydrocarbons, a combination of economic liberalisation, free trade agreements and entry to a variety of trade blocs has assured steady growth for Colombia over the past few years. After expanding 6.6% in 2011 and 4% in 2012, Colombia’s economy experienced a slowdown during much of the first half of 2013, registering GDP growth of just 2.6% in the first quarter. Nonetheless, the sound performance of the construction sector, along with strong public investments, recovery in the hydrocarbons industry and restored consumer confidence, allowed Colombia to finish 2013 with solid growth of 4.7%. While the first quarter of 2014 displayed a slight slowdown, with GDP expanding by just 2.9%, large-scale investments in infrastructure point to continued growth in 2014, with the central bank forecasting GDP to expand by 5%. This chapter contains interviews with José Ángel Gurría, Secretary-General, Organisation for Economic Cooperation and Development (OECD); Enrique García Rodríguez, Executive President, CAF development bank of Latin America; and José Darío Uribe, Governor, Central Bank.

Cover of The Report: Colombia 2014

The Report

This chapter is from the Colombia 2014 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of José Darío Uribe, Governor, Central Bank of Colombia
OBG talks to José Darío Uribe, Governor, Central Bank of Colombia

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×

Product successfully added to shopping cart