Colombia’s current account deficit at 2.7% of GDP in 3rd quarter

Colombia’s current account deficit shrank to 2.7% of gross domestic product (GDP) in the third quarter, the central bank said on Tuesday, while the figure for the first nine months of the year also decreased. The reduction from the 5.2% current account deficit in the third quarter of 2019 was due to lower capital outflows on profits from foreign investment and a smaller foreign trade deficit, the bank said. The deficit for the July-September quarter was equivalent to $1.77 billion, less than the $4.16 billion in the same period last year. Between January and September, the deficit fell to 3.1% of GDP, equivalent to $6.05 billion, from $10.58 billion or 4.4% of GDP in 2019.

Source: Nasdaq