Colombian economy

Colombia Making ‘Remarkably Smooth Adjustment’ to Economic Shocks: IMF

Medellin Herald June 15, 2017

The International Monetary Fund (IMF) announced in a report issued May 31 that Colombia’s economy is starting to rebound – and it’s performing much better than its neighbors following the oil-price collapse nearly three years ago. As a result, real gross domestic product (GDP) growth would

Colombian economy

Antioquia’s Exports Rise 14.7% in 2017, Colombia Up 16%: DANE

Medellin Herald April 4, 2017

The latest report from Colombia’s economic statistics agency (DANE) shows that Antioquia’s exports rose 14.7% year-on-year in the first two months of 2017 — and Antioquia likewise continues to surpass all Colombian departments in total share of exports, at 19.4%. The single biggest reason for the big boost in Antioquia exports was the rise in […]

Colombian economy

Fitch Upgrades Colombia’s Debt Risk Rating to ‘Stable’

Medellin Herald March 13, 2017

Thanks to the Colombian government’s recent tax reform law (see Medellin Herald on December 29, 2016), Wall Street bond rater Fitch has just decided to upgrade Colombia’s debt-risk outlook to “stable,” up from its former “negative” rating. Reacting to the decision, Colombia’s Treasury Minister (Ministro de Hacienda) Mauricio Cardenas said that the Fitch rating will

Colombian economy

Colombia’s 2016 Full-Year GDP Up 2%, Free-Trade Exports Improve Year-on-Year

Medellin Herald February 24, 2017

Colombia’s national economic statistics agency (DANE) announced February 22 that gross domestic product (PIB in Spanish initials) grew 2% year-on-year in 2016, down from 3.1% in 2015. Financial services (up 11%) and real-estate (up 3.2%) led all growth categories, while construction jumped 4.1% and industrial manufacturing rose 3%, according to DANE. Colombia has seen 17

Colombian economy

Colombia’s Industrial Manufacturing Rebounded Sharply in 2016: DANE

Medellin Herald February 14, 2017

Colombia’s national economic statistical agency — Departamento Administrativo Nacional de Estadística, DANE — reported February 14 that its latest monthly manufacturers’ survey (Encuesta Mensual Manufacturera, EMM) shows a strong industrial rebound for full-year 2016. According to the survey, industrial manufacturing rose 3.5% year-on-year in 2016, compared to

Colombian economy

IMF, World Bank Foresee 2.6%/2.5% GDP Growth for Colombia in 2017

Medellin Herald January 23, 2017

The International Monetary Fund (IMF) and the World Bank this month issued nearly identical 2.6% and 2.5% growth projections for Colombia gross domestic product (GDP) in 2017. According to the IMF forecast – divulged in a new report on Latin American economies – Colombia’s 2.6% growth rate projection for 2017 is more than three-times the 0.8% growth […]

Colombian economy

Colombian-American Chamber of Commerce Hails New Import-Export Tools, Rules

Medellin Herald October 20, 2016

The Colombian-American Chamber of Commerce (Cámara de Comercio Colombo Americana) on October 20 hailed recent advances in the “Plan Vallejo” regulatory and reporting scheme that covers imports and exports into-and-out-of Colombia. According to the group (which also calls itself “AmCham Colombia”), the Vallejo Plan now features more-efficient electronic

Colombian economy

Colombia Manufacturing Rebound Strengthens; Up 9.4% Year-on-Year

Medellin Herald October 19, 2016

Colombia’s monthly manufacturing index (“EMM” in Spanish initials) rose 9.4% year-on-year in August 2016 — the latest month for which statistics are available — according to an October 19 report from the national statistics department (Departamento Administrativo Nacional de Estadística-DANE). The recent restart of Ecopetrol’s newly rebuilt “Reficar” refinery

Colombian economy

Colombia’s Free-Trade Zones See 85% Jump in Exports

Medellin Herald August 23, 2016

Colombia’s national statistics agency (Departamento Administrativo Nacional de Estadística, DANE) announced August 22 that exports from various free-trade zones (“zonas francas”) soared 85.7% year-on-year in June 2016, boosted by favorable peso-to-dollar exchange rates. According to DANE, the June 2016 export jump is the largest recorded since 2011 (see chart,

Colombian economy

Truckers, Colombia Government Settle National Strike

Medellin Herald July 22, 2016

Colombia President Juan Manuel Santos and Transport Minister Jorge Eduardo Rojas Giraldo announced July 22 that a 45-days-long national truckers’ strike – aggravated by acts of violence and vandalism against non-strikers — has finally been settled, much to the relief of freight shippers and receivers. According to the settlement agreement, the