Colombia: Colombia’s national statistics agency (Dane) has released new figures which show the Colombia's domestic economy grew by 1.8% in 2017, above the 1.6% forecast by local analysts but down from 2% in 2016. Five of nine economic sectors showed positive growth, with three – agriculture, cattle, hunting, forestry & fishing (4.9%), financial institutions & insurance (3.8%), and community & social services (3.4%) – registering activity above the average growth rate. The fourth quarter of 2017 registered a variation of 1.6%, compared with 1.8% in the same quarter the previous year. In a press release the trade, industry & tourism minister, María Lorena Gutiérrez, noted that “2017 wasn’t just a difficult year for Colombia”, citing a drop in demand from the main consumer countries and a fall in the prices of many primary goods. Noting that international oil prices had only begun to recover at the end of last year, Gutiérrez said that Colombia's economy would recover in 2018.
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