Banco de la República, gif (4471 bytes)


Gross domestic product growth

According to preliminary estimates by the National Planning Department (DNP) for the second quarter of 1999, the Colombian economy continue registering a reduction started in 1998. Gross Domestic Product decreased by 7,56% from the rates showed in the same period of 1998. This decrease is primarily due to the behavior of the roasted non-decaffeinated coffee (-28.48%), construction (-24.0%), manufacturing (-17.03%), trade, restaurants and hotels (-9.45%) and finance and services (-16.71%) sectors. Sectors that showed a positive rate of growth were Mining and Quarry Exploitation (8.79%). On the other hand, the social services, common and personals sector increased by 2.07%, while the transport, storage and communication showed a negative growth rate of -3.36% in the same period.

REAL GDP GROWTH BY SECTOR %

 

SECTOR

1990

1991

1992

1993

1994

1995

1996 pr

1997 p

1998 p

1999p Q1

1999p Q2

AGRICULTURE and CATTLE, FISHERY, FORESTRY and HUNTING

7.46

2.85

0.75

0.67

-0.28

2.56

0.87

0.38

0.60

1.22

-4.93

a. Roasted non-decaffeinated coffee 1/

24.72

3.45

9.96

-16.10

-11.64

1.09

-6.35

-2.44

12.84

3.12

-28.48

b. Agriculture and Cattle without coffee

3.28

2.54

-2.10

6.59

2.92

3.19

2.94

0.73

-1.04

1.16

-0.69

c.. Fishery, forestry and hunting

3.85

5.50

1.30

-2.41

-3.05

-4.49

-10.10

2.49

-4.17

-4.09

-4.44

MINING AND QUARRY EXPLOITATION

5.92

-0.64

-3.88

-1.66

1.62

21.68

7.69

3.41

7.94

12.78

8.79

ELECTRICITY, GAS AND WATER

3.77

3.06

-5.80

14.03

6.16

5.08

2.84

5.29

0.87

-5.68

-4.60

MANUFACTURING 2/

1.95

2.06

1.90

4.78

3.20

3.81

-3.84

2.79

-0.28

-18.58

-17.03

CONSTRUCTION

-13.07

0.25

7.26

18.20

19.23

4.21

-0.48

-3.87

-11.33

-14.66

-24.00

TRADE, REPAIRS, RESTAURANTS AND HOTELS

2.82

0.43

2.55

9.14

6.08

8.23

-0.33

2.57

-0.20

-8.65

-9.45

TRANSPORT, STORAGE AND COMMUNICATION

3.74

3.44

5.33

4.35

5.80

4.74

4.51

6.26

2.57

-3.88

-3.36

Transport

1.74

2.42

5.78

4.45

5.54

3.53

3.60

1.51

0.03

-6.98

-6.77

Mail Services and telecomunications

11.99

7.25

3.72

3.96

6.78

9.13

7.65

17.92

8.70

3.25

4.35

FINANCIAL, INSURANCE, REAL STATE AND SERVICE INSTITUTIONS

6.20

4.94

3.54

5.29

13.02

8.32

4.73

3.10

-2.81

-7.46

-7.03
Finance and services 3/

9.29

6.18

4.07

6.38

18.77

13.01

5.75

2.47

-10.76

-17.31

-16.71

Housing

2.90

3.53

2.92

4.00

6.10

2.00

3.20

3.33

2.82

2.19

2.35

SOCIAL SERVICES, COMMON AND PERSONALS 4/

2.75

1.03

8.51

1.05

3.81

6.86

9.44

6.01

1.66

2.18

2.07

Domestic

2.00

2.00

2.00

2.40

2.39

2.40

1.80

-1.04

-1.05

-1.05

-1.06

Public administration services (Government)

2.85

-0.32

12.52

0.20

2.74

7.67

10.90

7.85

2.28

3.47

3.13

Minus: Imputed banking services

-3.36

9.30

-3.61

13.80

16.20

20.06

9.20

4.20

-14.82

-17.55

-6.95

Value added subtotal

4.13

2.10

3.10

3.75

4.71

5.52

2.00

3.00

0.60

-4.71

-6.59

Plus taxes except IVA

n.a

n.a

n.a.

n.a.

n.a.

n.a.

n.a.

3.66

-2.00

-12.10

-15.17

Minus : Subventions

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

12.30

4.00

1.85

0.15

Plus non deducible IVA

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

6.44

-3.00

-16.21

-16.88

Plus: Duties and taxes on imports

9.76

-1.35

36.68

48.19

25.99

10.64

2.80

11.61

1.00

-30.00

-29.19

GROSS DOMESTIC PRODUCT

4.28

2.00

4.05

5.39

5.81

5.83

2.05

3.24

0.39

-5.77

-7.56

n.a.: Not available.
pr: Preliminary.
p : Provisional.
1/  Include parchment coffee and coffee thrashing.
2/  Without coffee trashing.
3/  Until 1996, included services,non financial and non real state institutions.
4/  Include learning , social and health services.

Source: National Administrative Department of Statistics(DANE).