Colombia: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Colombia has the largest coal reserves in Latin America. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2019): United States, China, and Mexico |
| Top Industries Source: CIA World Factbook | Textiles; Food Processing; Oil; Clothing and Footwear |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $741,375,666,032 (2020) |
| GDP Growth Rate (annual %) | -6.796% (2020) |
| GDP Per Capita, PPP (current international) | $14,570 (2020) |
GDP Country Rank 32/197 (2020)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 2.525% (2020) |
| External debt stocks, total (DOD, current US$) | $155,171,767,041 (2020) |
| Total tax rate (% of commercial profits) | 71.2% (2019) |
| Real Interest Rate (5 year average %) | 8.326% (2020) |
| Manufacturing, value added (% of GDP) | 11.015% (2020) |
| Current Account Balance (BoP, current US$) | ($9,926,642,260) (2020) |
Labor and Employment [1]
| Labor Force, Total | 24,802,460 (2020) |
| Employment in Agriculture (% of total employment) | 16.453% (2020) |
| Employment in Industry (% of total employment) | 20.019% (2020) |
| Employment in Services (% of total employment) | 63.527% (2020) |
| Unemployment Rate | 15.44% (2020) |
Trade [1]
| Imports of goods and services (current US$) | $54,646,532,798 (2020) |
| Exports of goods and services (current US$) | $36,702,118,308 (2020) |
| Total Merchandise Trade (% of GDP) | 27.445% (2020) |
| FDI, net inflows (BoP, current US$) | $13,989,839,284 (2019) |
| Commercial Service Exports (current US$) | $5,535,544,009 (2020) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Colombia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.