Colombia | Weekly update BBVA Tracker: Consumption. 19 November, 2020.

Summary

The third and last day without VAT of the year had a very positive balance for the sectors that benefited from this exemption. Consumption during this day was 50% higher than that registered for the two previous days. The clothing and household appliance sectors were some of the big winners.

Key points

• Key points:
• During November, consumption grew 13.7%, driven by the consumption of exempt goods on the day without VAT.
• The clothing sector was one of the winners of the 3rd day without VAT with sales more than double that observed in the first two.
• Sporting articles and books had growth above 100% on the third day without VAT compared to the second day.
• Credit card spending on the day without VAT was accelerated by 7pp more than debit card spending.
• Barranquilla and Pereira registered annual growth of over 10% in the month. Medellín, although in positive, is the city that lags behind.

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