Colombia - Real Gross Domestic Product
Colombia: Real Gross Domestic Product
| Mnemonic | GDP$.ICOL | |
|---|---|---|
| Unit | Bil. 2015 COP, CDASA | |
| Adjustments | Calendar Adjusted and Seasonally Adjusted | |
| Quarterly | 6.05 % | |
| Data | 2020 Q4 | 215,267 |
| 2020 Q3 | 202,992 | |
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 | 12/31/2020 |
Colombia: GDP
| Reference | Last | Previous | Units | Frequency | |
|---|---|---|---|---|---|
| Government Consumption | 2020 Q4 | 45,531 | 45,464 | Bil. COP, CDASA | Quarterly |
| Investment | 2020 Q4 | 49,397 | 47,963 | Bil. COP, CDASA | Quarterly |
| Nominal Fixed Investment (gross fixed capital formation) | 2020 Q4 | 49,620 | 46,806 | Bil. COP, CDASA | Quarterly |
| Nominal Gross Domestic Product | 2020 Q4 | 266,601 | 245,864 | Bil. COP, CDASA | Quarterly |
| Private Consumption | 2020 Q4 | 185,023 | 169,426 | Bil. COP, CDASA | Quarterly |
| Real Fixed Investment (gross fixed capital formation) | 2020 Q4 | 38,522 | 37,972 | Bil. 2015 COP, CDASA | Quarterly |
| Real Government Consumption | 2020 Q4 | 37,389 | 37,187 | Bil. 2015 COP, CDASA | Quarterly |
| Real Gross Domestic Product | 2020 Q4 | 215,267 | 202,992 | Bil. 2015 COP, CDASA | Quarterly |
| Real Investment | 2020 Q4 | 39,754 | 39,284 | Bil. 2015 COP, CDASA | Quarterly |
| Real Private Consumption | 2020 Q4 | 151,616 | 140,380 | Bil. 2015 COP, CDASA | Quarterly |
Release Information
For Colombia, the expenditure approach to GDP from the quarterly national accounts. Quarterly from 1994.
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 = ΣVA + Tx GDP = GCF + FBKF + Δ 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: Δ Inv = Change in Inventories
- + Taxes and duties on imports X = Exports
- + Non-deductible VAT M = Imports
- + Other Taxes on products
- - Product subsidies
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.
