Browse a full set of economic indicators

Colombia

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
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
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

Inflation & Debt

Inflation 2015 5%
2016 7.5%
2017 4.3%
2018* 3.2%
2019* 3.6%
*Estimate
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)
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)
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

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)
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
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

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