General Information

Petroleum and petroleum products represent 65.2% of the country's exports, followed by coffee at 4.6%, precious metals and stones at 3.4%, plastics and manufacturing at 3.0%, and flowers at 2.5%.
(Source: DANE)

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

USD 330,200

millions

6.4%

 

USD 6,671

 

 Economic Statistics (years 2015 - forecast 2020)

National Accounts 2015 2016 2017 2018 f.2019 f.2020
             
GDP growth (%) 3.0% 2.1% 1.4% 2.7% 3.1% 2.9%
Nominal GDP (USD millions) 293,500 282,700 311,800 330,200 331,100 353,900
GDP per Head (USD) 6,089 5,805 6,350 6,671 6,649 7,050
Inflation (%) 6.8% 5.7% 4.1% 3.2% 3.4% 2.5%
Fiscal Balance (% GDP) -3.4% -2.3% -2.7% -2.3% -2.0% -2.1%
General Govt. gross debt (% GDP) 51.2% 51.9% 52.8% 56.2% 56.5% 56.6%
   

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) 2015 2016 2017 2018 f.2019 f.2020
             
Exports of Goods 38,572 34,090 39,676 44,316 46,292 48,009
Exports growth (%) -32.2% -11.6% 16.4% 11.7% 4.5% 3.7%
Imports of Goods 52,050 43,239 44,248 49,633 52,285 54,775
Imports growth (%) -15.4% -16.9% 2.3% 12.2% 5.3% 4.8%
Foreign Trade (% GDP) 31% 27% 27% 28% 30% 29%
             
Current Account Balance -18,564 -12,027 -10,296 -12,659 -11,541 -12,099
% GDP -6.3% -4.3% -3.3% -3.8% -3.5% -3.4%
Foreign Direct Investment 11,723 13,850 13,836 11,010 12,441 13,312
% GDP 4.0% 4.9% 4.4% 3.3% 3.8% 3.8%
 

 

 

 

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