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 2.4 %
Data 2021 Q2 216,845
2021 Q1 222,167

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 6/30/2021

Colombia: GDP

Reference Last Previous Units Frequency
Government Consumption 2021 Q2 48,912 45,709 Bil. COP, CDASA Quarterly
Investment 2021 Q2 53,923 60,335 Bil. COP, CDASA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2021 Q2 50,327 54,034 Bil. COP, CDASA Quarterly
Nominal Gross Domestic Product 2021 Q2 280,917 278,567 Bil. COP, CDASA Quarterly
Private Consumption 2021 Q2 204,106 194,589 Bil. COP, CDASA Quarterly
Real Fixed Investment (gross fixed capital formation) 2021 Q2 38,428 45,499 Bil. 2015 COP, CDASA Quarterly
Real Government Consumption 2021 Q2 40,117 38,019 Bil. 2015 COP, CDASA Quarterly
Real Gross Domestic Product 2021 Q2 216,845 222,167 Bil. 2015 COP, CDASA Quarterly
Real Investment 2021 Q2 38,392 46,964 Bil. 2015 COP, CDASA Quarterly
Real Private Consumption 2021 Q2 162,362 158,934 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.