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 bank Bank of the Republic
International Reserves US$ 31.896 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 378.713 billion (2009 estimate)
GDP (Purchasing Power Parity) 500.576 billion of International dollars (2009 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
1.8% 2.5% 3.9% 5.3% 5% 7.1% 6.3% 3.5%
2009 2010 2011 2012*
1.7% 4% 5.9% 4.7%

*Estimate

GDP per capita - current prices US$ 8,127 (2009 estimate)
GDP per capita - PPP $10,742 International Dollars (2009 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.59% 0.6% 0.54% 0.59% 0.61%

**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 March 2012)

Inflation
2009 2010 2011 2012*
4.2%(2008) 2.3% 3.4% 3.5%

*Estimate

Unemployment rate
2009 2010 2011 2012*
12% 11.8% 10.8%(2009) 11%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
30.8% 35.9% 36.1% 34.7% 32.3%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
0% -2.5% -3.1% -2.1% -1.4%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB-

Moody's rating: Baa3

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$133.3 billion US$208.5 billion US$201.3 billion
Largest companies in Colombia Interconexion Electrica (Electric Utilities), Energía de Bogotá (Electric Utilities), Grupo Aval (Investment services), Ecopetrol (Oil & Gas Operations), BanColombia (Regional Banks), Banco Davivienda (Regional Banks) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -10.1 billion (2009 estimate)(After 2008)
Current account balance by percentage of GDP -2.7% of GDP (2009 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

15.7% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.31%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.12% (2011)(2007)

(Data were released in 2012)

Total exports US$59.96 billion (2012 estimate) 
Export commodities petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas, apparel
Total imports US$55.49 billion (2012 estimate) 
Import commodities industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity
Exports - major partners US 38%, EU 15%, China 3.5%, Ecuador 3.4% (2011 estimate)
Imports - major partners N/A
FDI inflows
2009 2010 2011
US$7,137 million US$6,899 million(2009) US$13,234 million(2009)
FDI outflows
2009 2010 2011
US$3,088 million US$6,562 million US$8,289 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$16 million US$211 million(2009) US$3,210 million(2009) US$4,314 million
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

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

Cross-border M&A deals worth over $3 billion completed in 2011

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

Investor Group, ING Groep NV, Netherlands, $3.6 billion(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 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 45 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 61 out of 185 countries(2009)

Enforcing Contracts: 154 out of 185 countries

Registering Property: 52 out of 185 countries

Getting credit: 70 out of 185 countries

Protecting investors: 6 out of 185 countries

Trading across border: 91 out of 185 countries

Paying Taxes: 99 out of 185 countries

Dealing with Construction Permits: 27 out of 185 countries

Getting Electricity: 134 out of 185 countries

Resolving Insolvency: 21 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
69

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 45 Score: 68.0 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC-5
Total area 1,138,914 km2 (2006)
Capital Bogota (2009)
Currency Colombian pesos (COP) (2009)
Government type republic; executive branch dominates government structure (2009)
Languages Spanish
Religions Roman Catholic 90%, other 10%
Total population
1980 1990 2000 2012* 2017**
28.45 million 34.13 million 40.28 million 46.6 million 49.43 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
45% 62.1% 72.1% 75.3%
Population median age 27 years (2010)
Population growth rate 1.4% (2011)
Life expectancy 73 years (2010)
Adult literacy 93% (2005/2010)
% of population living on less than $2 a day 27.88% (2011)
Inequality of wealth distribution (Gini index)

55.91 (2010)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:3
Civil Liberties:4 (2011)

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

Total telephone subscribers as % of population

113.64% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 40.4% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer 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)

1.5602 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Bancolombia (National, 2013)
2012:
  • COUNTRY WINNERS Bancolombia (National, 2012)
2011:
  • COUNTRY WINNERS Bancolombia (Latin America, 2011)
2010:
  • COUNTRY WINNERS Bancolombia (National, 2010)
2009:
  • COUNTRY WINNERS Bancolombia (National, 2009)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best in Social Media Bancolombia (National, 2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks Bancolombia (National, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best in Mobile Banking Bancolombia (National, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best in Social Media Bancolombia (National, 2012)
  • GLOBAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best In Mobile Banking Bancolombia (National, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Bancolombia (Latin America, 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 (National, 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 (National, 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

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

WORLD'S BEST INVESTMENT BANKS

2013:
  • COUNTRY WINNERS Bancolombia (National, 2013)
2012:
  • COUNTRY WINNERS Bancolombia (National, 2012)
2011:
  • COUNTRY WINNERS Colombia (José Dario Uribe Escobar, 2011)

CENTRAL BANKER REPORT CARD

2012:

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Bancolombia (National, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Bancolombia (2013)
2012:
  • COUNTRY WINNERS Bancolombia (2012)
2011:
  • COUNTRY WINNERS Bancolombia (National, 2011)
2010:
  • COUNTRY WINNERS Bancolombia (National, 2010)
2009:
  • COUNTRY WINNERS Bancolombia (Latin America, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE