Economic Growth Will Remain Robust In 2014
BMI View: We forecast real GDP growth in Colombia to accelerate from 4.3% in 2013 to 4.5% in 2015, driven by stronger private consumption and fixed investment. Moreover, following a weak performance in 2013, we expect exports to pick up throughout 2014, further bolstering economic growth.
Real GDP growth in Colombia came in at 5.1% year-on-year (y-o-y) in Q313, driven by a sharp uptick in gross fixed capital investment, and we expect economic activity to remain robust in 2014 as a two-year long household deleveraging comes to an end in the coming months bolstering household spending. In addition, we anticipate a recovery in exports in 2014, as the labour-strikes that disrupted key export-oriented sectors through most of 2013 have mostly been resolved. We expect real GDP growth to stabilise in the 4.0%-5.0% range in the coming quarters, and forecast the economic growth to accelerate from 4.3% in 2013 to 4.5% in 2015.
Investment And Private Consumption Will Remain Key Drivers Of Growth
|Multi-Year Growth Acceleration On Track|
|Colombia - Real GDP Growth|