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Colombia’s economy is slowly growing. Here are the results Gross Domestic Product (GDP) The first quarter of this year.
(Read more: Food prices rose 0.9%, third straight month of increases)
According to Dane data, between January and March 2024, The annual economic change was 0.7%. This outcome is driven by areas such as public administration and defence; compulsory social security programmes; education, human health and social service activities.
This small increase not only exacerbated the slowdown affecting Colombia’s economy; This is also a call for attention to establish a roadmap Take actions that will help it reactivate.
Now, if we extend this idea to a more global perspective, how is Colombia performing in terms of growth compared to other countries in the region?
(Read more: China’s foreign trade grew 8.6% year-on-year in May)
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Juan Pablo Rueda/ Works Collection
(Read more: U.S. adds jobs in May, but unemployment rises)
Latin American GDP
The Brazilian Institute of Geography and Statistics (IBGE) reported that in the first quarter of 2024 Brazil’s economy grew by 0.8%. The result slightly exceeded experts’ expectations, who put the figure at between 0.6% and 0.7%.
Turning to Chile, the central bank reported that in the first three months of the year Chile’s economy grew by 2.3%. Although the figure fell short of expectations, it marked the Southern nation’s best quarterly close in the past two years.
The Central Reserve Bank of Peru (BCRP) reported that the Peruvian economy Year-on-year growth of 1.4% in the first three months. The country thus broke the negative trend that had been consolidating since 2022 due to falling inflation and social conflicts.
(See: Brazil imposes 20% tax on international purchases)
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(More: Ecuador receives $1 billion in credit agreement with IMF)
As for Mexico, between January and March 2024, Aztec country’s GDP grew 1.9% In fact, the result put its economy close to analysts’ expectations for 2% growth.
Although Argentina and Ecuador did not provide corresponding data for the first quarter, the World Bank’s forecasts for these countries are Will end the year with -2.8% and 0.7%respectively.
(Read more: OECD inflation rate remains stable at 5.7% in April)
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