Back

LatinNews Daily - 18 November 2020

In brief: Q3 contraction brings Colombia’s economy into recession

* Colombia’s national statistics institute (Dane) has reported that the country’s economy contracted by 9% year-on-year in the third quarter of 2020. This represents an improvement on the 15.8% contraction registered in the second quarter, but demonstrates that the economic impact of the coronavirus (Covid-19) pandemic is still being strongly felt, and brings Colombia officially into economic recession after posting a second consecutive quarter of economic contraction. Dane director, Juan Daniel Oviedo, noted that growth had been registered in a handful of sectors, with the real estate sector growing by 1.8% year-on-year, and the financial and agricultural sectors each growing by 1.5%. However, these advances were outweighed by contractions of 29.7% in the creative sector, 26.2% in construction, 20.1% in commerce, 19.1% in mining, and 7.2% in manufacturing.

End of preview - This article contains approximately 135 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.