Includes Colombia real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Colombia economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Colombia best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic
Capital City: Bogota
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Bank of the Republic, Colombia |
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Currency | Colombian pesos (COP) |
International Reserves |
USD 47.9 billion (2018) International Monetary Fund (IMF), data retrieved October 2019 |
Gross Domestic Product – GDP | USD 333.1 billion (2018, estimate) |
GDP (Purchasing Power Parity) | Intl$ 744.7 billion (2018, estimate) |
GDP Data
Real GDP growth |
2007 6.8% 2008 3.3% 2009 1.2% 2010 4.3% 2011 7.4% 2012 3.9% 2013 4.6% 2014 4.7% 2015 3% 2016 2.1% 2017 1.4% 2018 2.7% *Estimate |
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GDP per capita – current prices | USD 6,684.4 (2018, estimate) |
GDP per capita – PPP | Intl$ 14,943.5 (2018, estimate) |
GDP (PPP) – share of world total |
1980 0.62% 1990 0.63% 2000 0.55% 2010 0.56% 2019* 0.55% |
GDP – composition by sector |
agriculture: 6.3% industry: 26.6% services: 57.8% (2018 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2015 5% 2016 7.5% 2017 4.3% 2018* 3.2% 2019* 3.6% *Estimate |
Colombia
Inflation & Debt
Inflation |
2015 5% 2016 7.5% 2017 4.3% 2018* 3.2% 2019* 3.6% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: BBB- Moody’s: Baa2 Standard & Poor’s / Moody’s |
Unemployment rate |
2015 8.9% 2016 9.2% 2017 9.4% 2018* 9.7% 2019* 9.7% *Estimate |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2015 50.4% 2016 49.8% 2017 49.5% 2018* 52.2% 2019* 51% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2015 -3.5% 2016 -2.4% 2017 -2.6% 2018* -2.7% 2019* -1.7% *Estimate |
Market value of publicly traded shares |
2016 USD 103.8 billion 2017 USD 121.5 billion 2018 USD 103.8 billion |
Largest Companies | Ecopetrol, Grupo Aval, Bancolombia, Banco Davivienda, Grupo Bolivar, Grupo De Inversiones Suramericana |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
15.9% (2018) |
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Shares in world total merchandising export |
0.21% (2018) |
Shares in world total commercial services export | 0.16% (2018) |
Total exports | USD 53.7 billion (2018 estimate) |
Export commodities | Petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas, apparel |
Total imports |
USD 62.9 billion (2018 estimate) |
Import commodities | Industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity |
Exports – major partners |
US 28.5%, Panama 8.6%, China 5.1% (2017) |
Imports – major partners |
US 26.3%, China 19.3%, Mexico 7.5%, Brazil 5%, Germany 4.1% (2017) |
Competitiveness & Trade
Current account balance | USD -13.1 billion (2018 estimate) |
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Current account balance by percentage of GDP | -4.0 % (2018 estimate) |
FDI inflows |
2016 USD 13,850 million 2017 USD 13,836 million 2018 USD 11,010 million |
FDI Outflows |
2016 USD 4,517 million 2017 USD 3,690 million 2018 USD 5,122 million |
Value of cross-border M&A, by country of purchaser |
2015 USD 2,033 million 2016 USD 1,311 million 2017 USD 314 million 2018 USD 35 million United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 67 out of 190 countries Subcategories: Starting a Business: 95 out of 190 countries Dealing with Construction Permits: 89 out of 190 countries Getting Electricity: 82 out of 190 countries Registering Property: 62 out of 190 countries Getting Credit: 11 out of 190 countries Protecting Minority Investors: 13 out of 190 countries Paying Taxes: 148 out of 190 countries Trading across Borders: 133 out of 190 countries Enforcing Contracts: 177 out of 190 countries Resolving Insolvency: 32 out of 190 countries |
Global competitiveness ranking |
57 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 49 / Score: 67.3 (Moderately free) (100=totally free 0=totally repressed) |
Population & Geographic Data
Total Area |
1,138,910 sq km |
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Total Population |
1990 34.13 million 2000 40.3 million 2010 45.51 million 2015 48.2 million 2020* 50.89 million |
Urban population as % of total population |
1960 46.3% 1980 63.7% 2000 74% 2018 80.8% |
Population median age |
30.4 years CIA World Factbook / Population median age |
Population growth rate | 0.97% (2018 estimate) |
Life expectancy |
76.2 years (2018 estimate) CIA World Factbook / Life expectancy |
% of population living on less than $3.10 a day | 10.8% (last available estimate, 2017) |
Inequality of wealth distribution (Gini index) | 49.7 (last available estimate, 2017) |
Freedom House rating |
Partly Free Political Rights: 3 Civil Liberties: 3 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 14% Mobile: 129.9% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 62.26 % (2017) |
Language & Religon
Languages | Spanish (official) |
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Literacy |
Total population: 94.7% Male: 94.4% Female: 94.9% Definition: age 15 and over can read and write (2016 est.) |
Religions | Roman Catholic 79%, Protestant 14% (includes Pentecostal 6%, mainline Protestant 2%, other 6%), other 2%, unspecified 5% (2014 est.) |
World Rankings
Population | 50.89 million |
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Mercer Cost of living index | Bogotá: 170th (2019) |
C02 Emissions per capita | 1.79 metric tons per capita (2014) |
Global Finance Rankings & Awards: Colombia
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000