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Indicators of economy in Colombia

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Colombia, on the other hand, reached USD 6,104 per capita, or 314.46 billion USD for the whole country. Colombia is therefore currently ranked 44 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Colombia ranks 82nd in the list of the richest countries.

Inflation in Colombia in 2021 was around 3.50%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 58.1 percent lower.
The index for perceived corruption in the public sector is 39, which is below average by global standards.


Back to overview: Colombia

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic in 2020 were considerable in Colombia. Overall, gross domestic product in 2020 fell from 323.11 billion US dollars to 270.30 billion US dollars. With a large drop of 16.34 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 fell from 3.5 percent previously to 2.5 percent by the end of 2020.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Colombia
Total
Colombia
per capita
EU
Total
EU
per capita
GDP314.46 bn USD6,104.14 USD17.177 tn USD33,384.92 USD
Gross national product318.93 bn USD6,190.86 USD16.895 tn USD32,835.37 USD


Out of the 2,000 largest listed companies in the world, 3 originate from Colombia. This is determined annually in the Forbes Global 2000 list. The 3 largest companies in the country in 2022 were:

Rank 296: Ecopetrol (Bogota)
Rank 976: Bancolombia (Medellin)
Rank 987: Grupo Aval (Bogota)

Development of gross domestic product in billions of USD 1960 - 2021



Imports and Exports 2021

 Colombia
Total
Colombia
per capita
EU
Total
EU
per capita
Imports70.88 bn USD1,375.81 USD8.916 tn USD17,329.02 USD
Exports50.38 bn USD977.86 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1970 - 2021

Exports
Imports



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