Canadian Banking and Mortgage Portfolio Overview
Colombian Economy
Gaining momentum
Services account for a rising share of Colombian
GDP compared with traditional strengths in
extractive industries
Colombia continues to build on its 11 free-trade
agreements with 46 countries that account for
41% 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
9.1%
Other
6.2%
Natural Resources
2.8%
Information &
Communication
2.4%
Arts &
Entertainment
COLOMBIAN
GDP BY
INDUSTRY
(Q3 2019)
6.9%
Professional,
Scientific,
& Technical
Services
17.6%
Wholesale, Retail Trade,
Accommodation & Food Services
14.8%
11.9%
Manufacturing
8.1%
Mining and Oil
& Gas Extraction
6.6%
Construction
Public Administration
Top 5 Trading Partners
8
y/y % change
6
4
2
0
-2
-4
-6
16
Contributions to Colombian GDP Growth
Other*
Investment
Net Exports
Government
Consumption
Real GDP
17
18
19
199
*Statistical discrepancy, subject to revision.
Sources: Scotiabank Economics, Haver Analytics.
United
States
Others
42%
28%
Ecuador
3% Brazil Mexico
5% 6%
China
17%
68
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