Scotiabank Economic and Financial Market Update
Colombia
Gaining momentum
.
Services account for a rising share of Colombian
GDP compared with traditional strengths in
extractive industries
Colombia continues to build on its 10 free-trade
agreements with 42 countries that account for
38% of global GDP
Rising consumption, supported by public
spending, reflects an expanding middle class as
growth gains momentum and converges toward
the economy's underlying potential
13.6%
Finance, Insurance,
& Real Estate
8.7%
Other
6.2%
Natural Resources
2.9%
Information &
Communication
2.4%
Arts &
Entertainment
COLOMBIAN
GDP BY
INDUSTRY
(Q1 2019)
7.2%
Professional,
Scientific,
& Technical
Services
17.4%
Wholesale, Retail Trade,
Accommodation & Food
Services
11.9%
Manufacturing
8.2%
Mining and Oil
& Gas Extraction
-14.7%
6.7%
Construction
Public Administration
8
y/y % change
6
4
2
0
-2
Contributions to Colombian GDP Growth
Other*
Net Exports
Investment
Government
Consumption
Real GDP
16
17
18
19
199
*Statistical discrepancy, subject to revision.
Sources: Scotiabank Economics, Haver Analytics.
Top 5 Trading Partners
United
States
Others
28%
42%
China
17%
Germany Brazil Mexico
3%
5% 6%
Scotiabank®
37
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