GFmag Online Readers Survey 2012
Colombia


Colombia Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Colombia; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankBank of the Republic
International ReservesUS$ 32.355 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 307.845 billion (2009 estimate)
GDP (Purchasing Power Parity)460.406 billion of International dollars (2009 estimate)
Real GDP growth
20002001200220032004200520062007
2.9%1.8%2.5%3.9%5.3%5%7.1%6.3%
2008200920102011*
2.7%1.5%4.3%4.6%

*Estimate

GDP per capita - current pricesUS$ 6,685 (2009 estimate)
GDP per capita - PPP$9,998 International Dollars (2009 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.59%0.6%0.54%0.58%0.58%

**Forecast

GDP - composition by sector
  • agriculture: 8.9% 
  • industry: 38% 
  • services: 53.1% (2011 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
7%(2008)4.2%2.3%3.6%

*Estimate

Unemployment rate
2008200920102011*
10.6%12%11.8%(2009)11.5%

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
32.5%32.3%36.2%36.5%36.3%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-1%0.1%-2.5%-3.5%-3.9%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB+/Positive/B

Moody's rating: Ba1

Moody's outlook: POS

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$101.956 billionUS$87.032 billionUS$133.301 billion
Largest companies in ColombiaEcopetrol (Oil & Gas Operations), Grupo Aval (Investment Services), BanColombia (Regional Banks)
(2011)
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -6.4 billion (2009 estimate)(After 2008)
Current account balance by percentage of GDP-2.1% of GDP (2009 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

17.5% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.26%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.12%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$40.24 billion f.o.b. (2010 estimate)
Export commoditiespetroleum, coffee, coal, nickel, emeralds, apparel, bananas, cut flowers
Total importsUS$38.88 billion f.o.b. (2008 estimate)
Import commoditiesindustrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity
Exports - major partnersUS 35.4%, Venezuela 17.4%, Ecuador 4.3% (2007)
Imports - major partnersUS 26.2%, China 10.1%, Mexico 9.3%, Brazil 7.3%, Venezuela 4.2% (2007)
FDI inflows
200820092010
US$10,596 millionUS$7,137 million(2009)US$6,760 million(2009)
FDI outflows
200820092010
US$2,254 millionUS$3,088 millionUS$6,504 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$16 millionUS$211 million(2009)US$3,210 million(2009)US$315 million
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 39 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 73 out of 183 countries(2009)

Registering property: 55 out of 183 countries

Paying Taxes: 118 out of 183 countries

Getting credit: 65 out of 183 countries

Protecting investors: 5 out of 183 countries

Trading across border: 99 out of 183 countries

Enforcing Contracts: 150 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		68

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 45 Score: 68 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC-5
Total area 1,138,914 km2 (2006)
CapitalBogota (2009)
CurrencyColombian pesos (COP) (2009)
Government typerepublic; executive branch dominates government structure (2009)
LanguagesSpanish
ReligionsRoman Catholic 90%, other 10%
Total population
1980199020002010*2015**
28.45 million34.13 million40.28 million45.51 million48.28 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
45%62.1%72.1%74.8%
Population median age26.0 years (2006)
Population growth rate1.4% (2009)
Life expectancy73 years (2007)
Adult literacy94% (2000/2007)
% of population living on less than $2 a day27.88% (2011)
Inequality of wealth distribution (Gini index)

58.5 (2006)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:3
Civil Liberties:4 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

108.47% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population36.5% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Bogota: 63rd (2011)

CO2 emissions
(Metric tons of CO2 per capita)

1.504 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2012:
  • COUNTRY WINNERS Bancolombia (National, 2012)
2011:
  • COUNTRY WINNERS Bancolombia (National, 2011)
2010:
  • COUNTRY WINNERS Bancolombia (National, 2010)
2009:
  • COUNTRY WINNERS Bancolombia (National, 2009)

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Bancolombia (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best in Social Media Grupo Bancolombia (Latin America, 2011)
2010:
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Investment Management Services Bancolombia (Latin America, 2010)
  • COUNTRY WINNERS / Best Consumer Internet Banks Bancolombia (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Bancolombia (National, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks Bancolombia (National, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Bancolombia (National, 2012)
2011:
  • COUNTRY WINNERS Bancolombia (National, 2011)
2010:
  • COUNTRY WINNERS Bancolombia (National, 2010)
2009:
  • COUNTRY WINNERS Bancolombia (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • COUNTRY WINNERS Citi (National, 2011)
2010:
  • COUNTRY WINNERS Citi (National, 2010)
2009:
  • COUNTRY WINNERS Citi (2009)

WORLD'S BEST INVESTMENT BANKS

2012:
  • COUNTRY WINNERS Bancolombia (National, 2012)
2011:
  • COUNTRY WINNERS Colombia (National, 2011)

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Bancolombia (Global, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:
  • COUNTRY WINNERS Bancolombia (National, 2012)
2011:
  • COUNTRY WINNERS Bancolombia (National, 2011)
2010:
  • COUNTRY WINNERS Bancolombia (National, 2010)
2009:
  • COUNTRY WINNERS Bancolombia (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE