On May 15, 2024, new data revealed a slight uptick in Colombia's GDP growth for the first quarter of the year. The Gross Domestic Product expanded by 1.1% in Q1 2024, marking a modest increase from the 1.0% growth recorded in the fourth quarter of 2023.
This quarter-over-quarter comparison indicates a continued, albeit slow, momentum in economic activity as Colombia navigates post-pandemic recovery and various global economic challenges. The previous quarter's data, which also showed a 1.0% growth, was registered in the fourth quarter of 2023, serving as a baseline for evaluating the recent performance.
Economic analysts are observing these incremental changes closely, as they potentially signal the beginnings of a steady upward trajectory for Colombia's economy. While the growth rate remains modest, consistent positive adjustments can build investor confidence and potentially cascade into more significant economic improvements.
