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Colombia GDP and Economic Data

Country Report 2017 - 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.

Tough Deal: Q&A With Colombian Airline Avianca's CEO And CFO

Colombian airline Avianca, Latin America’s second-largest in both fleet size and revenue, has been flying through some turbulence. Airbus recently claimed Avianca executives demanded kickbacks, and major shareholder German Efromovich says he’s close to winning a bitter lawsuit against lender United Airlines and shareholder Kingsland Holdings for ousting him as chairman. CEO Anko van der Werff and CFO Adrian Neuhauser tell Global Finance about raising money and finding smoother skies.

 
 
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Central bank

Bank of the Republic, Colombia

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International Reserves

USD 47.9 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019

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Gross Domestic Product - GDP

USD 333.1 billion (2018, estimate)

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GDP (Purchasing Power Parity)

Intl$ 744.7 billion (2018, estimate)

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Real GDP growth
2007 2008 2009 2010 2011 2012 2013
6.8% 3.3% 1.2% 4.3% 7.4% 3.9% 4.6%
2014 2015 2016 2017* 2018*    
4.7% 3% 2.1% 1.4% 2.7%    

*Estimate

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GDP per capita - current prices

USD 6,684.4 (2018, estimate)

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GDP per capita - PPP

Intl$ 14,943.5 (2018, estimate)

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GDP (PPP) - share of world total
1980 1990 2000 2010 2019*
0.62% 0.63% 0.55% 0.56% 0.55%

*Estimate

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GDP - composition by sector
  • agriculture: 6.3% 
  • industry: 26.6% 
  • services: 57.8%

(2018 estimate)

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Gross domestic expenditure on R&D; (% of GDP)

N/A

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

*Estimate

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Unemployment rate
2015 2016 2017 2018* 2019*
8.9% 9.2% 9.4% 9.7% 9.7%

*Estimate

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Household saving rates

N/A

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Public debt (General government gross debt as a % of GDP)
2015 2016 2017 2018* 2019*
50.4% 49.8% 49.5% 52.2% 51%

*Estimate

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Public deficit (General government net lending/borrowing as a % of GDP)
2015 2016 2017 2018* 2019*
-3.5% -2.4% -2.6% -2.7% -1.7%

*Estimate

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Government bond ratings

Standard & Poor's: BBB-

Moody's: Baa2

Standard & Poor's / Moody's 

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Market value of publicly traded shares
2016 2017 2018
USD 103.8 billion USD 121.5 billion USD 103.8 billion
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Largest companies

Ecopetrol, Grupo Aval, Bancolombia, Banco Davivienda, Grupo Bolivar, Grupo De Inversiones Suramericana

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Current account balance

USD -12.6 billion (2017 estimate)

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Current account balance by percentage of GDP

-4.2% (2017 estimate)

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Exports as percent of GDP (Exports of goods and services)

14.7% (2015)

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Shares in world total merchandising export

0.2% (2015)

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Shares in world total commercial services export

0.2% (2015)

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Total exports

USD 33.6 billion (2016 estimate)

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Export commodities

Petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas, apparel

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Total imports

USD 47.2 billion (2016 estimate)

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Import commodities

Industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity

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Exports - major partners

US 27.5%, Panama 7.2%, China 5.2%, Spain 4.4%, Ecuador 4% (2015)

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Imports - major partners

US 28.8%, China 18.6%, Mexico 7.1%, Germany 4.2% (2015)

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FDI inflows
2013 2014 2015
USD 16,209 million USD 16,325 million USD 12,108 million
Source
FDI outflows
2013 2014 2015
USD 7,652 million USD 3,899 million USD 4,218 million
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Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
USD 3007.2 million USD 6540.3 million USD 1629.3 million USD 1649.6 million
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Cross-border M&A deals worth over $3 billion completed in 2014

N/A

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Cross-border M&A deals worth over $3 billion completed in 2015

N/A

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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: 53 out of 190 countries (2016)

Subcategories:

Starting a business: 61 out of 190 countries

Enforcing Contracts: 174 out of 190 countries

Registering Property: 53 out of 190 countries

Getting credit: 2 out of 190 countries

Protecting investors: 13 out of 190 countries

Trading across border: 121 out of 190 countries

Paying Taxes: 139 out of 190 countries

Dealing with Construction Permits: 34 out of 190 countries

Getting Electricity: 74 out of 190 countries

Resolving Insolvency: 33 out of 190 countries

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Global competitiveness ranking

61 out of 138 countries

(2016-2017)

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Index of Economic Freedom

Ranking: 33 / Score: 70.79 (Mostly free) (2017)

(100=totally free 0=totally repressed)

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Time zone

UTC-5

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Total area

1,138,910 sq km

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Capital

Bogota

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Currency

Colombian pesos (COP)

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Government type

Presidential republic

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Languages

Spanish (official)

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Religions

Roman Catholic 90%, other 10%

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Total population
1990 2000 2010 2016* 2021*
34.125 million 40.296 million 45.51 million 48.75 million 51.58 million

*Estimate

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Urban population as % of total population
1960 1980 2000 2015
45% 62% 72% 76%
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Population median age

29.6 years (2016 estimate)

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Population growth rate

1.02% (2016 estimate)

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Life expectancy

75.7 years (2016 estimate)

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Literacy

Total population: 94.7%
Male: 94.6%
Female: 94.8% (2015 est.)

(age 15 and over can read and write)

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% of population living on less than $3.10 a day

5% (2014)

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Inequality of wealth distribution (Gini index)

N/A

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Freedom House rating

Political Rights: 3
Civil Liberties: 3 (2017)

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

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Total telephone subscribers as % of population

Fixed 14.35%   Mobile 115.74% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

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Internet users as % of total population

55.9% (2015)

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Mercer Cost of living index

Bogota: 190th (2016)

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CO2 emissions

1.9 (2013)

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World's Best Internet Banks

2013
2012
2011
2010
2009
2005

World’s Best Treasury & Cash Management Providers

2017

World's Best Supply Chain Finance Providers

2012

World's Best Subcustodian Banks

2013
2012
2011
2010
2009

World’s Best Investment Banks

2014
2013
2012
2011

World’s Best Foreign Exchange Providers

2013
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2006
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2004
2003

World's Best Banks By Region

2014
2013
2012
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World's Best Banks

2014
2013
2013

World’s Best Trade Finance Banks

2014
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2009

Best of…

2013
2012
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2005
2004
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World's Biggest Banks

2010
2009

Additional Awards

2018
2014
2009
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