Colombian GDP growth beats expectations in Q3
Colombia’s Gross Domestic Product (GDP) rose by 3.3% year-on-year during the third quarter of 2019, beating the market expectation for 2.9% y/y expansion, CEEMarketWatch reported citing figures released by the statistics office DANE.
This is the best performance of the local economy so far this year and it was mainly driven by private consumption which increased 5% y/y. Public consumption growth accelerated to 3.5% y/y during the quarter. Investment also had a positive impact on the country’s GDP after growing 5.5% y/y in Q3.
On the other side, however, Colombia’s external trade had a negative contribution to growth due to the sharp increase in imports and the deceleration of exports.Original source: CEEMarketWatch