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Economic growth

Bogota and Colombia GDP, 2015 - 2024

Annual GDP growth in Colombia

In the fourth quarter of 2024, Bogota's GDP grew 2.8%, close to the 2.3% recorded in the fourth quarter of Colombia's GDP; Bogota's GDP increased 1.2 percentage points compared to the third quarter of 2023, when the city decreased 1.6%.
In its January 2025 monetary policy report, Banco de la República projected total and core inflation of 4.1% and 3.9%, respectively, by the end of 2025.

Source: DANE

Reference period: IV quarter 2024

Source: DANE. April 28, 2025. * Information available for Bogota: fourth quarter of 2024.

Annual GDP growth in Colombia

In the year 2024, Colombia's GDP grew 1.7% with respect to the year 2023 and in the fourth quarter of 2024, the country's GDP grew 2.3% in its original series with respect to the same period of the previous year.

Source: DANE, GDP.

Annual GDP growth rate by sector at constant prices in Colombia

Sector	I-trim 2022 vs 2023	I-trim 2023 vs 2024
Agriculture, livestock, hunting, forestry and fishing	1,03%	5,48%
Mining and quarrying	3,62%	-1,46%
Manufacturing industries	1,51%	-5,88%
Electricity, gas, steam and air conditioning supply; water distribution; sewage disposal and treatment, waste management and environmental sanitation activities	1,57%	4,51%
Construction	-3,07%	0,71%
Wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and warehousing; accommodation and food services	-0,46%	-0,77%
Information and communications	1,93%	-1,63%
Financial and insurance activities	22,99%	-2,96%
Real estate activities	1,87%	1,75%
Professional, scientific and technical activities; Administrative and support service activities; Administrative and support service activities	1,94%	-0,22%
Public administration and defense; compulsory social security schemes; Education; Human health care and social work activities; Human health care and social work activities	0,10%	5,33%
Arts, entertainment, recreation and other service activities; Activities of individual households as employers; undifferentiated activities of individual households as producers of goods and services for their own use	15,25%	5,23%
Gross value added	2,35%	0,67%
Taxes less subsidies on products	6,21%	0,44%
Gross domestic product	2,73%	0,65%

Gross Domestic Product grew 1.7% in 2024 compared to 2023. The economic activities that contributed most to the growth were: Agriculture, livestock, hunting, forestry and fishing, which grew 8.1%; Public administration and defense, which grew 4.2%; and Arts, entertainment, recreation and other service activities, which grew 8.1%.

Source: DANE.

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