Colombia’s economy contracted by a more moderate 9% y/y in Q3 2020

Although Colombia’s real GDP declined by a hefty 9% y/y in Q3 2020 it was a slower pace of contraction than the revised Q2 2020 fall of 15.8% y/y caused by the restrictions imposed to stop the spread of COVID-19. 

Construction sector output plunged by 26.2% y/y, mining and quarrying was down by 19.1% y/y and wholesale, retail, transport and storage, food and distribution by 20.1%. However, some sectors exhibited growth, including agriculture (1.5%), finance (also 1.5%) and real estate (1.8%).

Sign in for further data and analysis on Colombia’s economy on the CEIC Colombia's Economy in a Snapshot – Q4 2020 report.