While the Andean nation’s Finance Ministry forecast 3% growth for the period, GDP expanded just 2.8%, and officials told Bloomberg, 0.3% over the prior quarter.

The news service said the median forecast of 29 economists it surveyed projected growth of 2.7%.

While coal definitely had an impact on the world’s fourth-largest tonnage exporter, Colombia’s performance during the first quarter compares to a 4.8% expansion in Peru, 4.1% in Chile and just 0.8% in Mexico.

President Juan Manuel Santos announced a 5 trillion peso ($US2.6 billion) stimulus package in April aimed at “reactivating” Colombia’s industrial sector and increasing growth this year by 0.7%.

Annual inflation totaled 2% in May, at the lower end of the central bank’s target range, Bloomberg said.

Meanwhile, finance minister Mauricio Cardenas said earlier this month that the country’s economy could grow 4.6% annually without overheating.

That itself is down from a previous projection of 4.8%.

Coal is down an estimated 21% from a year ago due to a pay dispute at Cerrejon earlier this year that resulted in a strike that lasted more than a month.

Not helping matters was the suspension of producer Drummond Colombia’s loading license while the government investigated allegations the company dumped coal into the sea to avoid the sinking of a vessel.

Coal is Colombia’s second largest export commodity after oil.