GDP growth in 2022 was driven by trade, maintenance, transportation, storage, housing and food supply; Manufacturing industries and artistic, entertainment and recreational activities and other service activities, the total contribution of which was 4.5 percentage points.
DANE’s director, Piedad Urdinola, explained that gross domestic product (GDP) growth for 2020 and 2021 was revised to remain at -7.3% and 11% respectively.
As for last year’s quarterly growth compared to 2021, it was 7.8% in the first year; 12.3% in the second; 7.8% in the third quarter and 2.9% in the fourth.
The growth between October November and December 2022 is mainly explained by entertainment and leisure activities.
Urdinola explained that there is usually a moderation in economic growth in the last quarter of each year.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
