Economic Performance in 2000
During the first quarter of year 2000
important economic achievements were reached. First of all, the GDP presented an annual
growth of 2.23%, this represents the first positive growth after 6 quarters of negative
rates. Second, during this first quarter, the balance of payments current account deficit
showed a small moderation on its growth; it fell from a 1.1% of GDP at the end of 1999 to
a 0.9% in first quarter of year 2000. Inflation rate, measured with the Consumer Price
Index, presented in March a value of 9.7%, even though this was 0.5 percentage points
higher than the one observed in December 1999, it stills represents one of the lowest ever
registered since 1970. At the same time, the Producer Price Index stood at a value of
13.7%, 1 percentage point over the one observed in December 1999. On the other hand, the
unemployment rate reached in March the value of 20.2% (2.2 percentage points higher than
the one observed in December 1999), becoming one of the highest levels of unemployment
ever seen in the history of the country.
ECONOMIC
PERFORMANCE IN 2000
YEARS |
GROWTH |
UNEMPLOYMENT
RATE
(%) |
CURRENT
ACCOUNT
(% of GDP) |
INTERNATIONAL
RESERVES
(Months of imports
of goods and services) |
GDP
(%) |
CPI
(%) |
PPI
(%) |
1990 |
4.3 |
32.4 |
29.9 |
10.6 |
1.3 |
5.9 |
1991 |
2.0 |
26.8 |
23.1 |
9.4 |
5.5 |
8.9 |
1992 |
4.1 |
25.1 |
17.8 |
9.8 |
1.8 |
8.8 |
1993 |
5.4 |
22.6 |
13.2 |
7.8 |
-4.0 |
6.9 |
1994 |
5.8 |
22.6 |
20.7 |
8.0 |
-4.5 |
7.0 |
1995 |
5.2 |
19.5 |
15.4 |
9.5 |
-5.1 |
6.3 |
1996 |
2.1 |
21.6 |
14.5 |
11.3 |
-5.0 |
7.2 |
1997 |
3.4 |
17.7 |
17.5 |
12.0 |
-5.6 |
6.5 |
1998 |
0,48 p |
16.7 |
13.5 |
15.6 |
-5,3 p |
6,0 p |
1999 |
-4,29 p |
9,2 |
12.7 |
18,0 p |
-1,1 p |
7,1 p |
2000 |
2.23 p* |
9,7 * |
13.7* |
20,2 p* |
-0,9 p* |
7,0 p* |
|
p: Provisional.
*: Up to March.
Since 1994, the statistics correspond to the new measurement of the Balance of Payment,
according to the Balance of Payment Methodology of the 5th Edition International
Monetary Fund Balance of Payment Manual .
Source: National Administrative Department of Statistics (DANE), National Planning
Department ( DNP) and Banco de la República.
|
