2024-08-16 21:43:23
The Colombian economy showed growth in the second quarter of 2024, with the Gross Domestic Product (GDP) increasing by 2.1% compared to the same period of the previous year, according to Piedad Urdinola, director of the National Administrative Department of Statistics (DANE).
This result was driven mainly by the performance of the agricultural sector, which includes the agriculture, livestock, hunting, forestry and fishing.
During the mentioned quarter, this sector registered a notable increase of 10.2%, consolidating itself as the economic activity that contributed the most to GDP growth. National. The strength of this area highlights the importance of the Colombian countryside in the country’s economic structure, as well as the positive impact it can generate in other sectors.
Other areas also performed favourably. Public administration and defence, together with compulsory social security schemes, education and health care activities, all registered growth of 4.8%. These activities, essential for social well-being, continue to be pillars in the country’s economic structure.
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On the other hand, artistic, entertainment, recreational and other service activities, including the activities of individual households as employers, also stood out with a growth of 11.1%. This sector, although not as large as others, showed a remarkable recovery and contributed significantly to the country’s economic dynamism.
GDP balance in the first half of 2024
Analyzing the behavior of GDP during the first half of the year, a cumulative growth of 1.5% is observed compared to the same period in 2023. The agricultural sector was once again the protagonist, with an increase of 8% and a contribution of 0.8 percentage points to the annual variation of GDP.
Public administration and defence, along with education and health care, also registered growth of 5.1% during the first six months of the year. Likewise, artistic, recreational and service activities also maintained their upward trend, with an increase of 9.5%.
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