INSUBCONTINENT EXCLUSIVE:
This brings the full-year growth to 1.7%, a slight improvement from the 0.6% recorded in 2023.The National Administrative Department of
Statistics (DANE) will confirm these figures on February 17, but the projections suggest a steady, albeit slow, rebound
The quarterly performance revealed uneven progress.GDP grew by 0.7% in the first quarter, accelerated to 2.1% in the second, and stabilized
at 2% in the third and fourth quarters
However, a minor contraction between the second and third quarters highlighted lingering challenges.Private sector activity fueled much of
the growth, particularly in services, agriculture, and mining
Sub-sectors like trade, transportation, and accommodation benefited from recovering private consumption and easing inflation, which fell to
an estimated 5.4% by year-end.Public sector contributions were limited due to fiscal austerity measures and a 1.2% annual decline in public
administration activity in November
Agriculture remained strong thanks to stable weather conditions, while mining faced setbacks from reduced coal and petroleum
(Photo Internet reproduction)Manufacturing and construction saw slower growth due to weak investment and high borrowing costs
trends, particularly for durable goods
However, private investment stagnated amid economic uncertainty.Looking ahead to 2025, analysts project GDP growth of up to 2.8%, driven by
stronger domestic demand and lower interest rates
Yet structural challenges like high unemployment and regional disparities persist.For investors and policymakers, these figures underscore
the need for balanced strategies that stimulate growth while addressing long-term vulnerabilities.
