Fiscal Year Gross Domestic Product for Colombia
COLNGDPFY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,467,626,594,654,180.00
Year-over-Year Change
120.40%
Date Range
1/1/2011 - 1/1/2024
Summary
The Fiscal Year Gross Domestic Product (GDP) for Colombia measures the total economic output of the country over a 12-month fiscal period. It is a key indicator of Colombia's economic health and growth.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Fiscal Year GDP for Colombia represents the market value of all final goods and services produced within the country during its fiscal year, which runs from January to December. It is a comprehensive measure of a nation's economic activity and is widely used by policymakers, analysts, and investors to assess Colombia's economic performance.
Methodology
The data is collected and calculated by Colombia's national statistics agency, DANE, based on surveys and economic data.
Historical Context
Fiscal Year GDP is an important metric for evaluating Colombia's macroeconomic policies and tracking its integration with global markets.
Key Facts
- Colombia is the fourth-largest economy in Latin America.
- GDP growth in Colombia averaged 3.3% from 2010 to 2019.
- The services sector accounts for over 60% of Colombia's GDP.
FAQs
Q: What does this economic trend measure?
A: The Fiscal Year Gross Domestic Product (GDP) for Colombia measures the total value of all goods and services produced within the country over a 12-month fiscal period.
Q: Why is this trend relevant for users or analysts?
A: Fiscal Year GDP is a key indicator of Colombia's overall economic performance and growth, making it relevant for policymakers, investors, and analysts assessing the country's macroeconomic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Colombia's national statistics agency, DANE, based on surveys and economic data.
Q: How is this trend used in economic policy?
A: Fiscal Year GDP is used by Colombian policymakers and international institutions to evaluate the country's macroeconomic policies and its integration with global markets.
Q: Are there update delays or limitations?
A: The Fiscal Year GDP data for Colombia is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Fiscal Year Gross Domestic Product for Colombia (COLNGDPFY), retrieved from FRED.