Colombia | An outstanding performance of Colombia's economy in 1Q14

First quarter of 2014´s economic growth stood at 6.4% YoY, the largest increase since the fourth quarter of 2011. As we expected, construction was the main determinant of strong expansion. The acceleration of the economy versus the previous quarter was significant, reaching an increase of 2.3% QoQ, the highest since 2010. On the supply side, the sectors of construction, agriculture and social services were in the upper range of increases, while industry, transportation and public services were the negative impact of lower external trade and domestic supply shocks during the first period of the year. BBVA Research expects a growth of 4.7% in 2014, but now with a slight upward bias, which will be publish in detail in our next issue of the Colombia Outlook journal in early August.

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