November 29, 2018 / 7:09 PM / 10 days ago

Colombia current account deficit narrows to 3.6 pct of GDP through Sept

BOGOTA, Nov 29 (Reuters) - Colombia’s current account deficit narrowed to 3.6 percent of gross domestic product between January and September, from 3.9 percent in the same period of 2017, due to increasing economic growth, the central bank said on Thursday.

Though the deficit was lower in percentage terms in 2018, it was higher in dollar terms - equivalent to $9.02 billion in 2018 and $8.85 billion in 2017.

Current accounts track a country’s net international trade and foreign investments.

The current account deficit was 3.3 percent of GDP at the close of 2017.

Foreign direct investment in Colombia fell 17.6 percent in the first three quarters of 2018 to $8.27 billion compared with the same period the year before, the central bank said in a statement, largely due to lower in investment in the oil sector. (Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb; Editing by Lisa Shumaker)

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