Colombia - Nominal Gross Domestic Product





Colombia: Nominal Gross Domestic Product

Mnemonic GDP.ICOL
Unit Bil. COP, CDASA
Adjustments Calendar Adjusted and Seasonally Adjusted
Quarterly 5.78 %
Data 2021 Q4 320,776
2021 Q3 303,250

Series Information

Source National Administrative Department of Statistic (DANE) - Colombia
Release GDP - Current and Constant Prices
Frequency Quarterly
Start Date 3/31/1994
End Date 12/31/2021

Colombia: GDP

Reference Last Previous Units Frequency
Government Consumption 2021 Q4 51,418 51,708 Bil. COP, CDASA Quarterly
Investment 2021 Q4 56,912 60,744 Bil. COP, CDASA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2021 Q4 57,766 53,575 Bil. COP, CDASA Quarterly
Nominal Gross Domestic Product 2021 Q4 320,776 303,250 Bil. COP, CDASA Quarterly
Private Consumption 2021 Q4 229,805 217,861 Bil. COP, CDASA Quarterly
Real Fixed Investment (gross fixed capital formation) 2021 Q4 40,628 40,355 Bil. 2015 COP, CDASA Quarterly
Real Government Consumption 2021 Q4 40,613 40,348 Bil. 2015 COP, CDASA Quarterly
Real Gross Domestic Product 2021 Q4 238,481 228,725 Bil. 2015 COP, CDASA Quarterly
Real Investment 2021 Q4 40,916 42,449 Bil. 2015 COP, CDASA Quarterly
Real Private Consumption 2021 Q4 176,187 168,326 Bil. 2015 COP, CDASA Quarterly

Release Information

For Colombia, the expenditure approach to GDP from the quarterly national accounts, from 1994, and the income approach, from 2016.

Expenditure approach

Active:

  • Framework: UN SNA 2008
  • Measurements:
    • Billions of Colombian pesos at constant year-2015 prices (Bil. 2015 COP)
    • At current prices (Bil. COP)
    • Quarter-over-quarter percent change (% Q/Q)
    • Year-over-year percent change (% Y/Y)
  • Adjustment: Calendar day adjusted and seasonally adjusted (CDASA)
  • Native frequency: Quarterly
  • Start date: Uniformly 1994Q1

Predecessors:

  • At 2005 prices ("_05")
  • At 2000 prices ("_00")
  • At 1994 prices ("94")

Income approach

  • Measurements:
    • Billions of Colombian pesos at current prices (Bil. COP)
    • Year-over-year percent change (% Y/Y)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Quarterly
  • Start date: Uniformly 2016Q1

Gross Domestic Product (GDP) is the monetary value of all domestic finished goods and services. The Departmento Administrativo Nacional de Estadistica (DANE) reports GDP at constant prices to adjust for inflations. Data is also reported at current prices. The data set includes quarterly chain-linked percent change of GDP and its components.  

GDP and its components are indexed 2015 = 100 and are not seasonally adjusted (NSA) or calendar day and seasonally adjusted (CDASA). DANE calculated GDP from the point of view of supply and demand using the following equation:

GDP = SVA + Tx GDP = GCF + FBKF + ? Inv + X - M
Where:

  • GDP = Gross Domestic Product
  • GCF = Final Consumption Expenditure
  • VA = Added value of branches of activity
  • At basic prices FBKF = Gross Fixed Capital Formation
  • Tx = Net taxes on products that include: ? Inv = Change in Inventories
  • + Taxes and duties on imports X = Exports
  • + Non-deductible VAT M = Imports
  • + Other Taxes on products
  • - Product subsidies

Gross Domestic Product (GDP) is the monetary value of all domestic finished goods and services. The Departmento Administrativo Nacional de Estadistica (DANE) reports GDP at constant prices to adjust for inflations. Data is also reported at current prices. The data set includes quarterly chain-linked percent change of GDP and its components.

The data are preliminary when first released, and become provisional four months later.

Concurrent with the change in currency reference year for the quarterly national accounts during 2018Q1, the source redefined their treatment of insurance premium payments, which shifted final consumption expenditure to the private institutional sector from government.