General Information

Petroleum and petroleum products represent 58% of the country's exports, followed by coffee at 5.6%, precious metals and stones at 3.9%, plastics and manufacturing at 3.7%, and flowers at 3.5%.
(Source: DANE, DIAN, Trademap)

Gross Domestic Product (GDP) % of regional GDP GDP per head

USD 323,700

millions

6.3%

 

USD 6,435

 

 Economic Statistics (years 2016 - forecast 2021)

National Accounts 2016 2017 2018 2019 f.2020 f.2021
             
GDP growth (%) 2.1% 1.4% 2.5% 3.3% -3.9% 3.8%
Nominal GDP (USD millions) 282,700 311,900 333,500 323,700 257,000 271,100
GDP per Head (USD) 5,865 6,378 6,710 6,435 5,049 5,285
Inflation (%) 5.7% 4.1% 3.2% 3.8% 1.4% 3.7%
Fiscal Balance (% GDP) -2.3% -2.7% -2.6% -2.0% -5.4% -3.9%
General Govt. gross debt (% GDP) 51.9% 52.7% 55.6% 54.5% 62.8% 63.8%
   

Trade Statistics

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
US 26.6%   US   25.5%
China 9.7%   China   20.8%
Panama 8.7%   Mexico   7.5%
Turkey 4.3%   Brazil   5.5%
           
By products     By products  
Fuels and mining prod. 67.9%   Manufactures 75.7%
Manufactures 16.9%   Fuels and mining prod. 12.3%
Agricultural products 11.4%   Agricultural products 10.7%
   
Balance of Payments (USD millions) 2016 2017 2018 2019 f.2020 f.2021
             
Exports of Goods 34,063 39,777 44,440 42,374 34,911 37,767
Exports growth (%) -11.7% 16.8% 11.7% -4.6% -17.6% 8.2%
Imports of Goods 43,239 44,247 49,584 50,821 44,525 47,761
Imports growth (%) -16.9% 2.3% 12.1% 2.5% -12.4% 7.3%
Foreign Trade (% GDP) 27% 27% 28% 29% 31% 32%
             
Current Account Balance -12,036 -10,241 -13,047 -13,800 -13,288 -11,972
% GDP -4.3% -3.3% -3.9% -4.3% -5.2% -4.4%
Foreign Direct Investment 13,848 13,837 11,535 14,493 10,145 12,174
% GDP 4.9% 4.4% 3.5% 4.5% 3.9% 4.5%
 

 

 

 

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