The economic architecture of Colombia is substantial, anchored by a Gross Domestic Product (GDP) of approximately $363.49B
2023
. This places it as the 42nd largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $6.95K
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $1.09T, offering a clearer picture of the population's domestic purchasing power. The economy is navigating a period of modest growth, recorded at 0.6%
2023
, while managing moderate inflation, with a CPI of 6.6%.
2024
On the global stage, Colombia's trade and financial dynamics reveal a complex interplay of international and domestic factors. The country exhibits a balanced trade profile, with exports making up 17.8% of GDP and imports 22.7%
2023
. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting 4.62% of the economy
2023
. This performance positions the country 42nd globally out of 186 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $10.11B annually
2023
. Fiscal capacity is adequate, with tax collections representing 17.7% of GDP, supporting core state functions.
2023
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $6,810
2023
, ranking the nation 93rd out of 190. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. The country confronts significant labor market challenges, evidenced by a high unemployment rate of 9.6%.
2024
A key feature of the workforce is its concentration in the services sector, which accounts for 65.6% of total employment
2023
. Despite its economic standing, poverty remains a salient issue, with 33.0% of the population living below the national poverty line
2023
. Wealth distribution is a major societal challenge, indicated by a high Gini index of 53.9, pointing to severe income inequality.
2023
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. Energy consumption per capita stands at 782.305 kg of oil equivalent
2023
, a metric that often correlates with industrial activity and living standards. A significant commitment to sustainability is evident, with renewable energy accounting for 29.7% of consumption
2021
. This commitment places it 110th among 190 countries, highlighting its relative progress in decarbonization. Total greenhouse gas emissions were last recorded at 223.97K tonnes of CO2 equivalent
2023
, a key factor in its national climate strategy and international obligations.

Key Economic Insights

Macroeconomic Health

Economic stagnation combined with high unemployment points to deep structural challenges requiring significant policy intervention.

Trade & Investment Profile

Primarily fueled by domestic demand, the economy has a degree of insulation from global trade volatility but may miss export-led growth opportunities.

Social Equity & Distribution

Critical levels of poverty and extreme income inequality present fundamental obstacles to sustainable development and social cohesion.

Energy & Sustainability

The transition to a sustainable energy framework is paramount for mitigating climate risk and securing future energy needs.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.