Colombia - Real Gross Domestic Product

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.

Further reading

At the source:

• http://www.dane.gov.co/files/investigaciones/fichas/Cuentas_trimestrales_b2000_05_13.pdf
• Annual National Accounts

At IMF (SDDS):

• National accounts