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 309,200

millions

5.6%

 

USD 6,297

 

 Economic Statistics (years 2014 - forecast 2019)

National Accounts 2014 2015 2016 2017 f.2018 f.2019
             
GDP growth (%) 4.4% 3.1% 2.0% 1.8% 2.7% 3.4%
Nominal GDP (USD millions) 378,300 291,500 280,000 309,200 340,500 344,300
GDP per Head (USD) 7,914 6,048 5,749 6,297 6,833 6,835
Inflation (%) 3.7% 6.8% 5.7% 4.1% 3.4% 3.0%
Fiscal Balance (% GDP) -1.8% -3.4% -3.0% -3.1% -2.9% -2.6%
General Govt. gross debt (% GDP) 46.6% 51.6% 52.8% 54.2% 54.8% 55.1%
   

Trade Statistics

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
US 27.3%   US   26.3%
Panama 8.3%   China   19.3%
China 4.8%   Mexico   7.5%
Ecuador 3.7%   Brazil   5.0%
           
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) 2014 2015 2016 2017 f.2018 f.2019
             
Exports of Goods 56,899 38,572 34,078 39,474 42,987 45,755
Exports growth (%) -5.6% -32.2% -11.7% 15.8% 8.9% 6.4%
Imports of Goods 61,539 52,050 43,239 44,241 47,825 50,294
Imports growth (%) 7.8% -15.4% -16.9% 2.3% 8.1% 5.2%
Foreign Trade (% GDP) 31% 31% 28% 27% 27% 28%
             
Current Account Balance -19,769 -18,586 -12,129 -10,359 -10,560 -10,283
% GDP -5.2% -6.4% -4.3% -3.4% -3.1% -3.0%
Foreign Direct Investment 16,164 11,736 13,849 14,518 14,808 15,549
% GDP 4.3% 4.0% 4.9% 4.7% 4.3% 4.5%
 

 

 

 

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