Colombia | Weekly update BBVA Tracker: Consumption. 20 January, 2021.

Summary

After the expansion of mobility restrictions in most of the country, consumption has deteriorated further in recent days, dropping 18% annually in January. The service sectors are in a sharp decline in recovery and many are at levels recorded prior to the end of strict confinement.

Key points

• Key points:
• In the first half of January, drugstore spending grew 26% annually while department stores grew 15%.
• Spending on restaurants is once again one of the most affected by the new restrictions, with annual falls of around 50%.
• Spending on clothing loses share quickly in January, which is replaced by spending on food and health goods.
• Only in Cartagena, a city that has imposed fewer restrictions on mobility, is there an acceleration in consumption in January compared to the previous month.
• Spending on clothing in Bogotá has fallen 62% so far this month, although in the last week it showed falls of up to 90% per year.

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