Economy of Colombia
Population: 49.65 M (2018)
GDP per Capita: 6,668 USD (2018)
331,050 M.

GDP USD

(2018)

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52,720 M.

EXPORTS USD

(2018)

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68,940 M.

IMPORTS USD

(2018)

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52.57 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 2.57 % (2018)
GDP of 2010 USD USD 381.90 B. (2018)
GDP Current USD USD 331.05 B. (2018)
GDP per Capita Current USD USD 6,668 (2018)
GDP per capita, PPP USD 13,321 (2018)
GDP per Capita, 2010 USD USD 7,692 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 15.20 % (2018)
Government Spending USD 50.31 B. (2018)
Government Debt % GDP 52.57 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 142.10 (2018)
Trade Openness 36.75 % (2018)
Exports of Goods and Services % GDP 15.93 % (2018)
Exports Goods & Services USD 52.72 B. (2018)
Exports Annual Growth 3.93 % (2018)
Imports as % GDP 20.83 % (2018)
Total Imports USD 68.94 B. (2018)
Foreign Direct Investment % GDP 3.48 % (2018)
Foreign Direct Investment USD 11.35 B. (2018)
Current Account Balance % GDP USD -3.94 % (2018)
Current Account Balance USD -13.04 B. (2018)
Trade Balance % GDP -4.90 % (2018)
Trade Balance USD -8.91 B. (2018)
Foreign Exchange Reserves incl Gold USD 47.89 B. (2018)
Remittances % GDP 1.92 % (2018)
Remittances USD 6,325 M. (2018)
Balance of Payments USD 398 M. (2018)

Labor Market

Indicator Value
Labor Force 27.25 M. (2019)
Unemployment Rate 9.19 % (2019)
Unemployment Rate Females 12.71 % (2019)
Unemployment Rate Males 7.45 % (2019)
Youth Unemployment (ages 15-24) 19.23 % (2019)
Labor Force Participation Rate 69.95 % (2019)
Labor Force (Percent Female) 42.95 % (2019)
Female Labor Force Participation Rate 58.61 % (2019)
Male Labor Force Participation Rate 81.94 % (2019)
Dependent People 46.10 % (2018)

Agriculture Sector

Indicator Value
Forest Area 52.70 % (2016)
Forest Area km² 584,750 km² (2016)
Agricultural Land 40.26 % (2016)
Agricultural Land km² 446,656 km² (2016)
Employment 16.19 % (2019)
Value added % GDP 6.28 % (2018)
Agriculture Value added USD 20.78 B. (2018)
Crop Production Index 114.60 (2016)
Precipitation 3,240 mm (2014)
Arable Land 2 % (2016)
Cereal Yield 4,322 kg/hectare (2017)
Food production index 117 (2016)
Rural Population 19 % (2018)
Fertilizer use of Arable Land 660 kg/hectare (2016)
Livestock Production Index 116 (2016)
Economy of Colombia

According to the World Bank and its latest published data, the economy of the Colombia presents a growth rate of 2.57 % (2018) to the previous year.

With a population that reaches 49.65 M (2018) and a gross domestic product of USD 331.05 B. (2018), it translates a Gross Domestic Product per Capita of USD 6,668 placing its inhabitants on the threshold of an Upper middle income country (according to the World Bank's updated classification).

Colombia also has a workforce of 27.25 M. (2019) with an unemployment rate of 9.19 % (2019), where women represent 12.71 % (2019) and men 7.45 % (2019), the unemployment rate for young people between 15-24 years old stood at 19.23 % (2019). The total number of dependent people stands at 46.10 % (2018).

The central government spent 15.20 % (2018) of its gross domestic product that year, which in absolute terms is USD 50.31 B. (2018). Its consolidated public debt reached 52.57 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Colombia exported USD 52.72 B. (2018), which represents 15.93 % (2018) of its gross domestic product, in that same sense its imports reached USD 68.94 B. (2018) with a direct foreign investment of USD 11.35 B. (2018).

Colombia has a forest area of 584,750 km² (2016), which represents 52.70 % (2016) of its total area, an average rainfall of 3,240 mm (2014) per year and a population of 19 % (2018) living in rural areas. With a total area of 446,656 km² (2016) available for agriculture and 16.19 % (2019) of its employments, the agricultural sector contributes to the economy of the Colombia about USD 20.78 B. (2018) (6.28 % (2018) of its GDP).