Gross domestic product growth
According to the National Statistics Administrative Department’s (DANE) provisional estimates, during 1999 the Colombian economy decreased with respect to the rate of growth registered in 1998. Gross Domestic Product decreased in 4.48% from a 0.48% growth rate showed in 1998. In 1999 the sector with the mayor decrease is primarily the construction sector (-24.33%), manufacturing industry (-12.81%), commerce, restaurants and hotels (-8.89%). Mining and quarry exploitation, and social services, common and personals continued showing a positive growth rate, its value added increased in a 6.58% and 4.31% respectively. In 1999, the majority of sectors registered lower growth rates than the ones registered in 1998.
REAL GDP GROWTH BY
SECTOR %
|
SECTOR |
1995 |
1996 |
1997 |
1998
p |
1999
p |
|
AGRICULTURE
and LIVESTOCK, FISHING, FORESTRY and HUNTING |
3.73 |
(1.24) |
0.65 |
0.60 |
(0.37) |
|
MINING
AND QUARRY EXPLOITATION |
14.57 |
7.29 |
3.69 |
6.66 |
6.58 |
|
ELECTRICITY,
GAS AND WATER |
2.58 |
4.90 |
0.96 |
0.86 |
(3.81) |
|
MANUFACTURING
INDUSTRY |
5.54 |
(1.38) |
0.51 |
(0.28) |
(12.81) |
|
CONSTRUCTION |
1.90 |
(12.94) |
2.18 |
(11.98) |
(24.33) |
|
COMMERCE,
REPAIRS, RESTAURANTS AND HOTELS |
3.83 |
(0.91) |
1.68 |
(0.20) |
(8.89) |
|
TRANSPORT,
STORAGE AND COMMUNICATION |
6.51 |
3.83 |
5.82 |
3.45 |
(2.98) |
|
FINANCIAL,
INSURANCE, REAL STATE AND SERVICE INSTITUTIONS |
8.63 |
5.17 |
4.92 |
(2.56) |
(7.29) |
|
SOCIAL
SERVICES, COMMON AND PERSONAL |
8.96 |
16.18 |
7.19 |
1.68 |
4.31 |
|
Minus:
Imputed banking services |
26.00 |
16.74 |
2.72 |
(14.81) |
(25.13) |
|
Subtotal
value added |
5.20 |
2.15 |
3.47 |
0.67 |
(3.66) |
|
Plus
taxes except IVA |
1.41 |
3.16 |
(4.28) |
(1.23) |
(9.64) |
|
Minus:
Subsidies |
(0.87) |
8.00 |
9.14 |
5.03 |
1.85 |
|
Plus
non deducible IVA |
5.26 |
(0.04) |
5.84 |
(2.57) |
(15.21) |
|
Plus:
Duties and taxes on imports |
12.06 |
0.90 |
10.60 |
0.86 |
(18.77) |
|
GROSS
DOMESTIC PRODUCT |
5.20 |
2.06 |
3.43 |
0.48 |
(4.48) |
|
p : Provisional.
Source: National Administrative Department of Statistics(DANE). |
