Colombia - Real Government Consumption





Colombia: Real Government Consumption

Mnemonic G$.ICOL
Unit Bil. 2015 COP, CDASA
Adjustments Calendar Adjusted and Seasonally Adjusted
Quarterly 0.52 %
Data 2022 Q2 40,874
2022 Q1 40,663

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 6/30/2022

Colombia: GDP

Reference Last Previous Units Frequency
Government Consumption 2022 Q2 52,593 50,585 Bil. COP, CDASA Quarterly
Investment 2022 Q2 84,100 76,809 Bil. COP, CDASA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2022 Q2 63,022 64,303 Bil. COP, CDASA Quarterly
Nominal Gross Domestic Product 2022 Q2 359,647 339,203 Bil. COP, CDASA Quarterly
Private Consumption 2022 Q2 260,135 239,362 Bil. COP, CDASA Quarterly
Real Fixed Investment (gross fixed capital formation) 2022 Q2 44,149 44,277 Bil. 2015 COP, CDASA Quarterly
Real Government Consumption 2022 Q2 40,874 40,663 Bil. 2015 COP, CDASA Quarterly
Real Gross Domestic Product 2022 Q2 244,115 240,577 Bil. 2015 COP, CDASA Quarterly
Real Investment 2022 Q2 51,165 49,709 Bil. 2015 COP, CDASA Quarterly
Real Private Consumption 2022 Q2 186,695 179,992 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.