Gross domestic product growth
According to the preliminary results
of the National Statistics Administrative Department (DANE), the Gross Domestic
Product’s annual growth rate for the first quarter of 2001 was of 1.75%. The pace of
growth decreased by 0.74 percentage points over the growth of the same period of 2000.
Comparing the annual growth rates of this two periods, this decrease is due to slight
growth of the electrical, gas and water sector (1.89%), manufacturing industry sector
(2.22%), trade sector (2.94%), transportation (2.75%) and social, services, communal and
personal sector (-0.58%). On the other hand, the mining exploitation sector (-5.49%) and
the construction sector (-3.38%) prolonged damage during several quarters, contributed
negatively to growth. On the contrary, the good behavior of the agricultural sector and
the financial, insurance, real state and service institution sector, exhibited annual
growth rates of 4.29% and 0.98% respectively, and which together triggered the first
quarter of 2001 economic growth.
REAL GDP GROWTH BY
SECTOR %
| SECTOR |
1996 |
1997 |
1998 |
1999 p |
2000 p |
2000 p 1/
I quarter |
2001 p 1/
I quarter |
| AGRICULTURE
AND LIVESTOCK, FISHING, FORESTRY AND
HUNTING |
-1.24 |
0.65 |
0.08 |
-0.04 |
5.22 |
2.62 |
4.29 |
| MINING AND QUARRY EXPLOITATION |
7.29 |
3.69 |
14.13 |
4.74 |
-5.76 |
-0.41 |
-5.49 |
| ELECTRICITY, GAS AND WATER |
4.90 |
0.96 |
1.41 |
-3.49 |
2.72 |
4.13 |
1.89 |
| MANUFACTURING
INDUSTRY |
-1.38 |
0.51 |
0.30 |
-12.48 |
9.67 |
8.39 |
2.22 |
| CONSTRUCTION |
-12.94 |
2.18 |
-9.09 |
-24.55 |
-1.46 |
-9.05 |
-3.38 |
| COMMERCE, REPAIRS, RESTAURANTS AND HOTELS |
-0.91 |
1.68 |
-2.29 |
-8.86 |
5.20 |
4.06 |
2.94 |
| TRANSPORTATION, STORAGE AND COMMUNICATIONS |
3.83 |
5.82 |
3.11 |
-3.00 |
3.68 |
3.53 |
2.75 |
| FINANCIAL, INSURANCE, REAL STATE AND SERVICE
INSTITUTIONS |
5.17 |
4.92 |
-2.05 |
-6.38 |
0.04 |
-1.46 |
0.98 |
| SOCIAL SERVICES, COMMUNAL AND PERSONAL |
16.18 |
7.19 |
2.75 |
4.02 |
-1.08 |
1.21 |
-0.58 |
| Minus:
Imputed banking services |
16.74 |
2.72 |
-9.25 |
-23.31 |
-7.65 |
-14.02 |
-3.72 |
| Subtotal value added |
2.15 |
3.47 |
0.87 |
-3.55 |
2.89 |
2.74 |
1.54 |
| Plus taxes except IVA |
3.16 |
-4.28 |
3.26 |
-7.43 |
-4.53 |
-8.96 |
n.a. |
| Minus:
Subsidies |
8.00 |
9.14 |
18.64 |
1.14 |
16.26 |
25.12 |
n.a. |
| Plus non deducible IVA |
-0.04 |
5.84 |
-6.23 |
-13.53 |
5.31 |
3.61 |
n.a. |
| Plus: Duties
and taxes on imports |
0.90 |
10.60 |
-1.41 |
-18.58 |
8.34 |
10.67 |
n.a. |
| GROSS DOMESTIC PRODUCT |
2.06 |
3.43 |
0.56 |
-4.25 |
2.80 |
2.49 |
1.75 |
|
p : Provisional.
n.a.: Not available
1/:Annual Growth.
Source: National
Administrative Department of Statistics(DANE). |
