Canadian Banking and Residential Mortgages Overview
Colombian Economy
Strong underlying momentum
.
Growth prospects have solidified as the
re-opening has progressed.
Colombia continues to build on its 17 free-trade
agreements with 65 countries that account for
41.7% of global GDP.
Services and consumption, reflecting an
expanding middle class, account for rising
shares of Colombian GDP compared with
traditional strengths in extractive industries.
GDP 2021E: 10.2%
GDP 2022F:
4.5%
GDP 2023F:
3.7%
13.5%
Finance, Insurance,
& Real Estate
10.8%
Other
6.0%
Natural Resources
3.1%
Arts &
Entertainment
18.1%
Wholesale, Retail Trade,
Accommodation & Food Services
12.2%
Manufacturing
COLOMBIAN
GDP BY
INDUSTRY
(Q4-2021)
6.9%
Mining and Oil
& Gas Extraction
4.6%
Construction
3.0%
Information &
Communication
6.8%
Professional,
Scientific,
& Technical
Services
.15.2%
Public Administration
Sources: Scotiabank Economics, Bloomberg, as of February 18, 2022.
Contributions to Colombian GDP Growth
25050
10
y/y % change
15
-5
-10
Other*
Net Exports
-15
Investment
Government
-20
Consumption
Real GDP
-25
18
17
*Statistical discrepancy, subject to revision.
Sources: Scotiabank Economics, Haver Analytics.
19
20
21
21
Top Trading Partners*
United
Others
States
32%
26%
Brazil 5%
Mexico 5%
China
19%
EU 13%
* Trade data updated as of Q3-2021.
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