Colombia

Economic Activity - Third Quarter 2002

The numbers in detail

The National Statistical Institute (DANE, Departamento Administrativo Nacional de Estadística) reports:

The gross domestic product (GDP) grew 1.87% in the third quarter of the current year in real terms compared with the same period last year.  The third quarter reading exceeded the the first quarter reading of 0.51% but was below the 2.22% expansion registered in the second quarter.

Compared to the previous quarter GDP expanded 0.27%, compared to 1.5% in the second.

As a result, accumulated growth for the first three quarter reached 1.53% over the same period last year.

The following is the growth breakdown by sector of GDP:

GDP by Sector, Q3 2002

Note: Change over same quarter last year.
Source: Departamento Administrativo Nacional de Estadística (DANE) and LatinFocus calculations.

The services sector grew 2.6% and thus improved over the second quarter, when it expanded at an annual rate of 2.2%.  Wholesale and retail activities, restaurants and hotels increased 1.9%  over the second quarter last year (Q2: +0.4% yoy).  Transport, storage and communications added 3.5% (Q2: +2.9% yoy); financial services and real estate augmented 3.9% (Q2: +4.7% yoy) and governmental services increased by 1.6% (Q2: 1.8% yoy).

More detailed information available at the Instituto Nacional de Estadística Geografía e Informática (INEGI).

Forecasts: This indicator is covered in the LatinFocus Consensus Forecast.  For 5-year projections, including quarterly forecasts for the next two years, please click here