Colombia posts 4.28% rise in Q4 GDP
Colombia's National Statistics Department disclosed that the country's economic growth reached 4.28% in the final quarter of 2004. For the whole year of 2004, economy grew 3.96%. GDP had been expected to rise up to 4% in the fourth quarter due to the slowdown in the farming, coal and oil sectors. Colombia's mining and oil sector growth dropped from 13.4% in 2003 to 2.8% in 2004. On the other hand, industrial sector grew from 4.2% to 4.8% while retail sector rose from 5.4% to 5.6%.