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Indicators of economy in Colombia

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Colombia reached 5.335 US dollars per inhabitant, or 271.44 bn US Dollar in the whole country. Colombia is therefore currently ranked 40 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Colombia is in the list of the world's richest countries in place 85.

Inflation in Colombia was in 2021 at around 3.50%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 59.1% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Colombia

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic in 2020 were considerable in Colombia. Overall, gross domestic product in 2020 fell from 323.43 billion US Dollar auf 271.44 billion US Dollar. With a large drop of 16.08 percent, the economy in Colombia has struggled significantly more than other countries. The tourism sector alone slumped by around 71 percent. The unemployment rate rose from 10.0 to 15.0 percent. The inflation rate has fallen from 3.5 percent previously to 2.5 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Colombia
Total
Colombia
per capita
EU
Total
EU
per capita
GDP271.44 bn USD5,334.56 USD15,291.93 tn USD29,692.11 USD
Gross national product294.39 bn USD5,785.64 USD15,330.84 tn USD29,767.66 USD


3 of the 2000 largest listed companies in the world originate from Colombia. This is determined annually in the Forbes Global 2000 list. The 3 largest companies in the country were in 2021:

Rank 633: Ecopetrol (Bogota)
Rank 815: Grupo Aval (Bogota)
Rank 1502: Bancolombia (Medellin)

Development of the Gross domestic product in billion US Dollar 1960 - 2020



Im- and Exports 2021

 Colombia
Total
Colombia
per capita
EU
Total
EU
per capita
Imports51.43 bn USD1,010.69 USD7,340.01 bn USD14,251.98 USD
Exports38.06 bn USD747.91 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in billion US dollars 1970 - 2021

Exports
Imports



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