Colombia

Description of Colombia

Colombia, with its rich history, diverse culture, and stunning landscapes, stands as a pivotal nation in South America. From the bustling streets of Bogota to the lush coffee plantations in the Andean region, Colombia offers a unique fusion of tradition and modernity. As the country continues to make strides in economic development and political stability, it finds itself at a crucial juncture in shaping its future. This website delves into the intricate web of macroeconomic statistics and geopolitical dynamics that influence Colombia's path towards progress and prosperity.

Population And Age Structure

Colombia has a total population of 50,930,662, which is higher than the average population of 40,097,746. Colombia ranks 29th out of 194 countries in terms of total population.

The percentage of the population aged 0-14 in Colombia is 21.92%, which is below the average of 27.34%. Colombia ranks 117th out of 194 countries in this category.

The total number of population aged 0-14 in Colombia is 11,165,204, above the average of 10,327,380. Colombia ranks 40th out of 194 countries in this metric.

In Colombia, 69.61% of the population falls in the age group 15-64, which is higher than the average of 63.44%. The country ranks 27th out of 194 countries in this age group.

The total population aged 15-64 in Colombia is 35,450,454, significantly higher than the average of 26,003,407. Colombia ranks 27th out of 194 countries in this category.

Colombia's population aged 65 and above constitutes 8.47% of the total population, below the average of 9.22%. The country ranks 78th out of 194 countries in this demographic.

The total number of individuals aged 65 and above in Colombia is 4,315,004, higher than the average of 3,766,959. Colombia ranks 28th out of 194 countries in this age group.

Summary

Colombia has a larger total population than the global average, with a significant proportion falling in the working-age group of 15-64 years. This demographic trend indicates a potentially productive labor force that could drive economic growth and development in the country. However, Colombia also has a lower percentage of children aged 0-14 compared to the global average, which could pose challenges for future population growth and sustainability of social welfare programs.

Population Miscellaneous

- The rural population of Colombia stands at 9,460,370, which is below the average of 18,044,041.29. Colombia ranks 58th out of 190 countries in this regard.
- Colombia's rural population as a percentage of the total population is 18.575%, which is below the average of 41.16%. This places Colombia at 155th out of 190 countries.
- The urban population in Colombia is 41,470,292, surpassing the average of 22,425,747.38. Colombia is ranked 23rd out of 194 countries for this attribute.
- With an urban population percentage of 81.425%, Colombia outshines the average of 59.69%. The country ranks 40th out of 194 nations.
- Colombia's age dependency ratio, at 43.67%, is below the average of 59.22%. This places Colombia at 168th out of 194 countries.
- The crude birth rate in Colombia is 14.435 births per 1,000 people, lower than the average of 19.38. Colombia is ranked 111th out of 192 countries for this metric.
- Colombia's crude death rate of 6.606 per 1,000 people is below the average of 8.21. Colombia ranks 130th out of 192 countries in this regard.
- The total fertility rate in Colombia is 1.737 births per woman, which is lower than the average of 2.60. Colombia ranks 123rd out of 190 countries for this indicator.

Summary

Colombia has a lower rural population and a higher urban population compared to global averages, indicating a significant level of urbanization in the country. The lower age dependency ratio, crude birth rate, crude death rate, and total fertility rate suggest a more stable demographic profile for Colombia, which could positively impact its economic development and social welfare programs.

Military

Colombia's military expenditure in current USD is $9,554,131,505.35, ranking 23 out of 149 countries with data available. This amount is below the attribute average of $12,904,993,617.17.

Colombia's military expenditure as a percentage of GDP is 3.53%, which is higher than the average of 1.90%. The country ranks 15 out of 148 countries in this metric.

Colombia's arms imports stand at $77,000,000, placing the country at the 45th position out of 113 countries. This amount is below the average of $205,522,123.89.

Colombia's arms exports amount to $4,000,000, ranking at 32 out of 34 countries. The figure is significantly lower than the average arms exports of $705,705,882.35.

With a total of 428,000 armed forces personnel, Colombia ranks 17 out of 164 countries. This number exceeds the average of 165,908 personnel.

Colombia's armed forces personnel as a percentage of the total labor force is 1.70%, surpassing the average of 1.28%. The country ranks 33 out of 164 in this category.

Summary

Colombia's military expenditure is below the global average, but as a percentage of GDP, it exceeds the norm, indicating a significant allocation of resources towards defense. Additionally, while the country has a high number of armed forces personnel compared to the global average, its arms exports are notably low, reflecting a reliance on imports for military equipment.

These indicators are crucial as they demonstrate Colombia's prioritization of defense spending relative to its economic output, as well as its dependence on imports for arms. The high percentage of armed forces personnel also signifies a substantial portion of the labor force dedicated to military activities, potentially impacting other sectors of the economy.

Natural Resources

Colombia has a forest area of approximately 591,419.1 sq. km, which is significantly above the global average of 211,606.11 sq. km. This ranks Colombia 13th out of 191 countries.

The land area in Colombia is 1,109,500 sq. km, much higher than the average of 665,166.51 sq. km. This places Colombia 26th out of 194 countries in the dataset.

Colombia's surface area is 1,140,619.05 sq. km, well above the average of 689,779.56 sq. km, ranking Colombia 25th out of 194 countries.

With 2,043,000 hectares of arable land, Colombia is below the average of 7,329,543.16 hectares. This places Colombia 83rd out of 190 countries.

Land under cereal production in Colombia covers 1,013,607 hectares, significantly less than the average of 4,206,011.63 hectares. Colombia ranks 77th out of 174 countries for this attribute.

Colombia receives an average precipitation depth of 3,240 mm per year, much higher than the global average of 1,157.83 mm per year. This rank places Colombia 1st out of 178 countries.

Colombia has a total renewable internal freshwater resources of 2,145 billion cubic meters, significantly exceeding the average of 240.41 billion cubic meters. This places Colombia 6th out of 178 countries in the dataset.

Summary

Colombia stands out in various key macroeconomic indicators, showcasing its abundant natural resources and environmental advantages. With vast forest area, extensive land area, high surface area, and abundant freshwater resources, Colombia ranks favorably globally in these aspects. These indicators are crucial as they highlight Colombia's potential for sustainable agriculture, biodiversity preservation, water security, and overall environmental resilience, which can be pivotal in shaping its economic development and international relations.

Resource Rents

1. Total natural resources rents (% of GDP): In Colombia, this value stands at 2.55%, below the average of 4.63%. Colombia ranks 75th out of 175 countries in this category.

2. Coal rents (% of GDP): Colombia's coal rents account for 0.39% of its GDP, slightly below the average of 0.40%. The country ranks 10th out of 65 countries in this aspect.

3. Forest rents (% of GDP): Colombia's forest rents make up 0.14% of its GDP, significantly lower than the average of 1.53%. The country ranks 108th out of 174 countries in this metric.

4. Oil rents (% of GDP): Colombia's oil rents represent 1.56% of its GDP, below the average of 2.51%. Colombia holds the 30th rank out of 117 countries in this regard.

5. Natural gas rents (% of GDP): Colombia's natural gas rents contribute 0.12% to its GDP, well below the average of 1.25%. The country ranks 48th out of 96 countries for this attribute.

6. Mineral rents (% of GDP): Colombia's mineral rents make up 0.33% of its GDP, which is below the average of 1.23%. The country holds the 41st rank out of 86 countries for mineral rents.

Summary

Colombia appears to have relatively lower contributions from natural resources rents to its GDP compared to global averages across various categories such as coal, forest, oil, natural gas, and mineral rents. Despite the country's rankings varying across these different types of natural resource rents, it generally falls below the global average and ranks moderately in comparison to other nations. These indicators are crucial for Colombia as they highlight the country's reliance on natural resources for economic activities and serve as a barometer for its economic diversification efforts and sustainability in the long term.

Commodities

Cereal production (metric tons): Colombia's cereal production is 4,458,460.35 metric tons, which is significantly below the average of 17,249,945.93 metric tons. Colombia ranks 62 out of 174 countries in this category.

Aquaculture production (metric tons): Colombia's aquaculture production stands at 179,350.99 metric tons, well below the average of 679,642.92 metric tons. Colombia ranks 28 out of 180 countries for aquaculture production.

Capture fisheries production (metric tons): Colombia's capture fisheries production is 91,924.46 metric tons, significantly less than the average of 467,453.06 metric tons. Colombia ranks 79 out of 190 countries in this aspect.

Total fisheries production (metric tons): With 271,275.45 metric tons, Colombia's total fisheries production is notably lower than the average of 1,153,914.85 metric tons. The country ranks 49 out of 182 nations for total fisheries production.

Fertilizer consumption (kilograms per hectare of arable land): Colombia's fertilizer consumption per hectare of arable land is 601.94 kilograms, exceeding the average of 159.04 kilograms. This places Colombia at rank 8 out of 187 countries in terms of fertilizer consumption.

Summary

Colombia's agricultural sector faces challenges with below-average production levels in cereals, aquaculture, capture fisheries, and total fisheries compared to global averages. However, the country excels in fertilizer consumption, surpassing the average significantly. This high fertilizer consumption indicates Colombia's commitment to maximizing agricultural output and productivity, which is crucial for ensuring food security, economic growth, and sustainability in the long term.

Intellectual Property

Colombia's Industrial design applications by nonresident entities stand at 427, below the average of 1415.83, ranking 45th out of 112 countries.

For Industrial design applications by resident entities, Colombia's count is 365, significantly below the average of 9799.58, placing it at the 46th position out of 113 countries.

Colombia's Patent applications by nonresidents are 1752, below the average of 6538.40, ranking 28th out of 129 countries in the dataset.

In terms of Patent applications by residents, Colombia reports 369, well under the average of 19037.56, ranking 49th out of 117 countries.

Colombia's Trademark applications by nonresident entities account for 18529, above the average of 15878.93, placing it at the 24th position out of 130 countries.

Regarding Trademark applications by resident entities, Colombia's count of 31370 is notably below the average of 111055.78, ranking 27th out of 129 countries.

Colombia's Scientific and technical journal articles produced amount to 9296.64, under the average of 15103.76, placing it at the 43rd position out of 192 countries in the dataset.

Colombia's Charges for the use of intellectual property payments stand at 1122727656.25, significantly below the average of 3218843494.39, ranking 38th out of 143 countries.

For Charges for the use of intellectual property receipts, Colombia reports 123030173.83, greatly below the average of 3191687117.58, ranking 43rd out of 122 countries.

Summary

Colombia's performance in key macroeconomic indicators related to intellectual property such as industrial design applications, patent applications, trademark applications, scientific and technical journal articles, and charges for the use of intellectual property, places it at varying positions compared to global averages and other countries. The country tends to rank lower in most indicators, suggesting potential areas for improvement in fostering innovation, research, and development. These indicators are crucial as they reflect Colombia's competitiveness, innovation capacity, and integration into the global knowledge economy.

Broad Economy Attributes

Colombia's GDP (current US$) is $270,150,956,772.57, which is below the average GDP of $442,870,224,838.68. It ranks 42 out of 189 countries included in the data.

Colombia's GDP, PPP (current international $) is $785,163,652,159.68, slightly above the average of $734,141,122,350.78. It ranks 32 out of 181 countries.

Colombia's GDP per capita (current US$) is $5,304.29, significantly below the average of $15,462.11. It ranks 100 out of 190 countries.

Colombia's GDP per capita, PPP (current international $) is $15,416.33, below the average of $21,251.89. It ranks 77 out of 181 countries.

Colombia's GNI (current US$) is $267,316,075,092.33, below the average GNI of $452,040,815,370.70. It ranks 42 out of 185 countries.

Colombia's GNI, PPP (current international $) is $776,924,384,455.09, above the average of $730,698,223,823.47. It ranks 32 out of 181 countries.

Colombia's GNI per capita, PPP (current international $) is $15,250, below the average of $20,615.75. It ranks 76 out of 181 countries.

Summary

Colombia's macroeconomic indicators show that it lags behind the global average in terms of GDP, GDP per capita, and GNI. This indicates a lower overall economic output and income levels compared to the average of the countries included in the data. The rankings also suggest that Colombia faces challenges in terms of economic development and income distribution when compared to its peers.

Broad Value Added

- Gross value added at basic prices (GVA) in Colombia is $246,007,620,606.009, ranking 37 out of 176 countries. This is below the average GVA of $360,070,943,595.1235.
- Agriculture, forestry, and fishing, value added (% of GDP) in Colombia is 7.47%, ranking 93 out of 182 countries. This percentage is below the average of 10.86%.
- Agriculture, forestry, and fishing, value added in Colombia is $20,169,898,854.4725, ranking 30 out of 182 countries. The country's value is slightly above the average of $19,924,732,828.066864.
- Services, value added (% of GDP) in Colombia is 59.95%, placing the country at rank 68 out of 183 countries. This percentage is above the average of 56.72%.
- Services, value added in Colombia is $161,947,015,871.864, ranking 40 out of 183 countries. The country's value is below the average of $295,837,711,130.6942.
- Industry (including construction), value added in Colombia is $63,890,705,879.6727, ranking 47 out of 183 countries. This value is below the average of $118,421,095,413.5021.

Summary

Colombia's Gross Value Added at basic prices is below the global average, indicating potential for growth in the country's economic output. The country's Agriculture, forestry, and fishing sector contributes less to its GDP compared to the average, suggesting room for expansion and modernization in this sector. Conversely, Colombia's Services sector surpasses the global average, highlighting a strength in the service industry that could be further leveraged for economic development. The country's Industry value added falls below the average, signaling a need for increased industrial output to align with global standards and competitiveness.

Manufacturing Value Added

Colombia's Manufacturing, value added (current US$) is $29,171,934,310.35, ranking 44 out of 173 countries. This value is below the average of $76,207,179,589.66.

Manufacturing, value added (% of GDP) for Colombia is 10.80%, ranking 96 out of 173 countries. This percentage is below the average of 11.90%.

Colombia's Medium and high-tech manufacturing value added (% manufacturing value added) stands at 24.74%, ranking 65 out of 149 countries, slightly above the average of 24.49%.

Chemicals (% of value added in manufacturing) for Colombia is 19.26%, ranking 13 out of 89 countries, significantly above the average of 11.56%.

Food, beverages and tobacco (% of value added in manufacturing) in Colombia accounts for 36.91%, ranking 18 out of 92 countries. This percentage is notably higher than the average of 24.51%.

Colombia's Machinery and transport equipment (% of value added in manufacturing) is 3.47%, ranking 79 out of 93 countries. This value is well below the average of 16.85%.

Textiles and clothing (% of value added in manufacturing) in Colombia is 5.93%, ranking 31 out of 93 countries, slightly below the average of 6.33%.

Other manufacturing (% of value added in manufacturing) for Colombia is 34.43%, ranking 70 out of 94 countries. This percentage falls below the average of 42.13%.

Summary

Colombia's manufacturing sector demonstrates strengths in chemicals and food, beverages, and tobacco production, with percentages significantly above the global averages. However, the country lags behind in machinery and transport equipment manufacturing as well as in medium and high-tech manufacturing. While the robust performance in certain subsectors signifies specialization and competitiveness, the weaker areas highlight areas for potential growth and investment to strengthen the overall manufacturing base and improve economic diversification and resilience.

Money

Colombia's consumer price inflation is relatively low at 2.53%, below the average of 8.26%. The country ranks 74th out of 165 countries in terms of consumer price inflation.

Colombia's GDP deflator inflation is also below the average at 1.48%, with a rank of 112 out of 188 countries. This indicates a relatively lower increase in the prices of goods and services in the country.

The broad money growth in Colombia is 12.71%, lower than the average of 18.03%. With a rank of 75 out of 139 countries, Colombia exhibits a moderate growth in its money supply compared to its peers.

Colombia's broad money as a percentage of GDP is 58.32%, below the average of 71.75%. This suggests a lower financial depth in the economy compared to the average of countries, with a rank of 78 out of 139.

In terms of broad money to total reserves ratio, Colombia's ratio is 2.69, indicating lower reserves relative to broad money compared to the average of 5.17. The country ranks 66th out of 126 countries in this aspect.

Summary

Colombia demonstrates relatively low consumer price inflation, GDP deflator inflation, and broad money growth compared to global averages, indicating stability in prices and moderate money supply growth. However, the country's financial depth and reserves relative to broad money are below average, suggesting potential limitations in the economy's resilience to external shocks and capacity for expansion.

These indicators are crucial as they offer insights into the overall macroeconomic health of Colombia. The low inflation rates signify price stability, which is essential for consumer purchasing power and economic planning. The moderate money supply growth suggests a balanced approach to monetary policy. However, the lower financial depth and reserves raise concerns about the country's ability to withstand economic crises and support sustained growth.

Consumption Expenditure

Colombia's final consumption expenditure in current US dollars is $237.72 billion, which is below the average of $381.63 billion. The country ranks 36 out of 159 countries in this category.

Final consumption expenditure as a percentage of GDP in Colombia is 87.99%, higher than the average of 82.37%. Colombia ranks 56 out of 159 countries for this statistic.

Colombia's general government final consumption expenditure in current US dollars is $46.39 billion, below the average of $93.68 billion. The country holds the 37th position out of 158 countries.

General government final consumption expenditure as a percentage of GDP in Colombia is 17.17%, lower than the average of 18.71%. Colombia is ranked 84th out of 158 countries in this metric.

Colombia's household and NPISHs final consumption expenditure in current US dollars is $191.33 billion, falling below the average of $290.13 billion. The country ranks 35th out of 158 countries in this aspect.

Households and NPISHs final consumption expenditure as a percentage of GDP in Colombia is 70.82%, higher than the average of 63.68%. Colombia holds the 52nd position out of 158 countries for this measure.

Summary

Colombia's final consumption expenditure, general government final consumption expenditure, and households/NPISHs final consumption expenditure are all below global averages in current US dollars. Despite this, Colombia ranks relatively well in these categories globally. The country's high final consumption expenditure as a percentage of GDP, especially by households/NPISHS, indicates a strong domestic demand-driven economy, which could signify stability and growth potential for Colombia.

Equities

1. Listed domestic companies, total: Colombia has 65 listed domestic companies, which is below the average of 636.625. The country is ranked 50th out of 72 countries in this attribute.

2. Stocks traded, total value (current US$): Colombia's total stock value is $10,000,100,000, significantly below the average of $1,379,501,950,182.91. The country is ranked 36th out of 71 countries.

3. Stocks traded, total value (% of GDP): Colombia's total stock value as a percentage of GDP is 3.70%, much lower than the average of 31.65%. The country is ranked 36th out of 71 countries in this metric.

4. Market capitalization of listed domestic companies (current US$): The market capitalization of Colombia's listed domestic companies is $106,315,200,000, well below the average of $1,196,037,851,618.88. Colombia is ranked 31st out of 73 countries.

5. Market capitalization of listed domestic companies (% of GDP): Colombia's market capitalization as a percentage of GDP is 39.35%, lower than the average of 71.24%. The country is ranked 37th out of 73 countries.

6. S&P Global Equity Indices (annual % change): Colombia's S&P Global Equity Indices have decreased by 17.95%, which is significantly below the average annual change of 2.06%. The country is ranked 71st out of 79 countries in this aspect.

Summary

Colombia performs below the global average across key macroeconomic indicators related to its stock market and equity indices. The country has fewer listed domestic companies, lower stock values and market capitalization compared to the average, indicating a less developed and smaller stock market. Additionally, the significant decrease in S&P Global Equity Indices reflects poor performance and investor sentiment towards Colombian equities. These indicators are crucial as they highlight Colombia's relative position in the global financial market and its attractiveness to investors.

Investment

Foreign direct investment, net (BoP, current US$): Colombia received a net inflow of -5725176361.39 US dollars, significantly below the average of -1615235980.51. This places Colombia at rank 149 out of 169 countries in the dataset.

Foreign direct investment, net inflows (BoP, current US$): Colombia recorded a net inflow of 7458624984.22 US dollars, surpassing the average of 5749271080.15. Colombia stands at rank 28 out of 182 countries.

Foreign direct investment, net inflows (% of GDP): With a value of 2.76%, Colombia's net inflows as a percentage of GDP slightly exceed the average of 2.61%. The country is ranked 68 out of 178 nations.

Foreign direct investment, net outflows (BoP, current US$): Colombia's net outflow was 1733448622.83 US dollars, significantly lower than the average of 5707991116.07. This places Colombia at rank 35 out of 156 countries.

Foreign direct investment, net outflows (% of GDP): Colombia's net outflows as a percentage of GDP stand at 0.64%, below the average of 1.00%. The country is ranked 45 out of 155 nations.

Portfolio Investment, net (BoP, current US$): Colombia recorded a net outflow of -1768105292.06 US dollars, well below the average of 679559169.57. The country is ranked 131 out of 159 countries.

Portfolio investment, bonds (PPG + PNG) (NFL, current US$): Colombia's net investment in bonds was 5027156000 US dollars, exceeding the average of 4134263915.25. This places Colombia at rank 8 out of 59 countries.

Portfolio equity, net inflows (BoP, current US$): With a net outflow of -453723568.71 US dollars, Colombia is below the average of 9197145994.70. The country is ranked 102 out of 125 nations.

Summary

Colombia has shown varying levels of performance in foreign direct investment, with net inflows below average but net outflows significantly lower than the average. The country has also demonstrated strength in portfolio investment, particularly in bonds where it surpasses the average and ranks 8th out of 59 countries. These indicators are important as they showcase Colombia's attractiveness to foreign investors and its ability to strategically allocate capital in the global market, impacting its economic stability and growth potential.

Debt

Total debt service (% of GNI): Colombia's value is 8.12%, above the average of 5.98%. It ranks 29 out of 120 countries.
Public and publicly guaranteed debt service (% of GNI): Colombia's value is 2.65%, below the average of 2.84%. It ranks 53 out of 120 countries.
External debt stocks (% of GNI): Colombia's value is 58.26%, below the average of 65.42%. It ranks 51 out of 120 countries.
Debt service on external debt, total (TDS, current US$): Colombia's value is $21,713,324,821.90, above the average. It ranks 12 out of 123 countries.
Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Colombia's value is $7,075,427,240.40, above the average. It ranks 12 out of 123 countries.
External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Colombia's value is $85,554,127,691.20, above the average. It ranks 12 out of 123 countries.
External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Colombia's value is $49,810,046,000.00, above the average. It ranks 13 out of 91 countries.
External debt stocks, total (DOD, current US$): Colombia's value is $155,728,184,773.60, above the average. It ranks 13 out of 123 countries.

Summary

Colombia has a relatively high total debt service and external debt stocks compared to other countries, ranking 29th and 51st respectively. However, its public and publicly guaranteed debt service is below average, ranking 53rd out of 120 countries. These indicators are crucial as they reflect Colombia's ability to manage its debt obligations, attract investment, and maintain financial stability in the global economy.

Broad Trade Attributes

- Trade (% of GDP): Colombia's trade as a percentage of GDP is 34.13%, which is below the average of 82.34%. Colombia ranks 147th out of 163 countries in this aspect.

- Merchandise trade (% of GDP): Colombia's merchandise trade as a percentage of GDP is 27.58%, also below the average of 60.01%. Colombia ranks 166th out of 186 countries in this regard.

- Trade in services (% of GDP): Colombia's trade in services as a percentage of GDP stands at 5.95%, below the average of 24.63%. The country ranks 152nd out of 171 countries in this category.

- External balance on goods and services (current US$): Colombia has a negative balance of $19.09 billion in goods and services, contrasting the average positive balance of $3.41 billion. This ranks Colombia 155th out of 163 countries in this measure.

- External balance on goods and services (% of GDP): Colombia's negative external balance as a percentage of GDP is at 7.07%, slightly higher than the average negative balance of 5.97%. The country is ranked 100th out of 163 countries in this metric.

Summary

Colombia's trade metrics, including Trade (% of GDP), Merchandise trade (% of GDP), and Trade in services (% of GDP), all indicate that the country's trade activity is below the global average. The negative External balance on goods and services in both absolute terms and as a percentage of GDP further emphasizes Colombia's trade deficit. These indicators reflect Colombia's challenges in achieving a balanced trade position, potentially highlighting issues with competitiveness, export diversification, or import dependency.

Net Trade

- Colombia's current account balance of - $9.27 billion (BoP, current US$) is below the average of $1.44 billion, ranking 155th out of 170 countries in the dataset.
- The current account balance as a percentage of GDP in Colombia is at -3.43%, which is below the average of -2.36%. Colombia ranks 109th out of 170 countries.
- Colombia's net trade in goods and services stands at -$13.10 billion (BoP, current US$), well below the average of $2.60 billion, placing Colombia at 161st out of 171 countries.
- The net primary income for Colombia is -$4.95 billion (BoP, current US$), which is below the average of -$0.90 billion. Colombia ranks 144th out of 170 countries.
- In terms of net secondary income, Colombia's value is $8.79 billion (BoP, current US$), significantly above the average of -$0.27 billion, ranking 10th out of 170 countries.
- Colombia's net trade in goods value is -$8.87 billion (BoP, current US$), below the average of $1.30 billion, placing Colombia at 152nd out of 171 countries.
- The net financial account for Colombia is at -$8.11 billion (BoP, current US$), well below the average of -$0.47 billion, with Colombia ranking 154th out of 170 countries.

Summary

Colombia's current account balance, net trade in goods and services, and net financial account all display deficits, indicating an imbalance in its international trade and financial transactions. However, the country's net secondary income surpasses the average by a significant margin, showcasing a strength in this particular aspect. These indicators are crucial as they reveal Colombia's economic vulnerability to external shocks, its competitiveness in the global market, and its ability to attract investments and manage debt effectively.

Broad Export Attributes

Colombia's Exports of goods, services and primary income amount to $42,766,250,132.30, ranking 54th out of 170 countries. This is significantly below the attribute average of $146,238,908,936.30.

The country's Exports of goods and services stand at $38,223,632,456.20, placing it 58th out of 170 countries. This figure is notably lower than the attribute average of $122,938,540,059.78.

Colombia's Exports of goods and services (current US$) amount to $36,557,247,845.24, ranking 60th out of 163 countries. This value is substantially lower than the attribute average of $129,596,864,610.19.

With Exports of goods and services (% of GDP) at 13.53%, Colombia ranks 145th out of 163 countries, significantly below the attribute average of 38.19%.

The country's Goods exports amount to $32,308,967,194.88, ranking 55th out of 171 countries. This falls notably below the attribute average of $93,310,581,697.39.

Colombia's International tourism receipts (% of total exports) stand at 5.13%, ranking 50th out of 120 countries. This figure is below the attribute average of 9.74%.

For ICT goods exports (% of total goods exports), Colombia's value is 0.44%, ranking 79th out of 142 countries. This is considerably below the attribute average of 3.81%.

Summary

Colombia's export performance across various categories places it below the global average and significantly lower than its peers in terms of export value and contribution to GDP. The country ranks lower than the average in exports of goods, services, and primary income, indicating a potential need for diversified export markets and improved competitiveness. The low percentage of exports relative to GDP suggests a possible imbalance in the country's economy, highlighting the importance of increasing export diversification and enhancing export-oriented industries to boost economic growth and resilience.

Merchandise Exports

Colombia's Merchandise exports amount to $31.01 billion, which is below the average of $89.54 billion, ranking 59th out of 187 countries in the dataset.

Colombia's Agricultural raw materials exports account for 4.94% of merchandise exports, higher than the average of 2.97%, placing Colombia in the 27th position out of 151 countries.

Food exports in Colombia represent 20.41% of merchandise exports, slightly below the average of 24.06%, ranking Colombia 63rd out of 152 countries.

Colombia's Fuel exports constitute a significant 41.56% of merchandise exports, well above the average of 13.70%, ranking Colombia 17th out of 147 countries.

The country's Ores and metals exports make up 1.30% of merchandise exports, far below the average of 9.10%, placing Colombia in the 113th position out of 152 countries.

Colombia's Merchandise exports by the reporting economy, residual, represent 2.66% of total merchandise exports, slightly below the average of 3.20%, ranking Colombia 33rd out of 166 countries.

Summary

Technology Exports

Colombia's Manufactures exports account for 22.40% of its merchandise exports, which is below the average of 42.62%. This places Colombia at rank 96 out of 152 countries in this category.

Colombia's High-technology exports amount to $689,645,045, significantly below the average of $16,655,934,078.80. This positions Colombia at rank 57 out of 151 countries.

High-technology exports as a percentage of manufactured exports in Colombia stand at 9.91%, slightly below the average of 10.15%. Colombia is ranked 51 out of 150 countries in this aspect.

Colombia's Medium and high-tech exports as a percentage of manufactured exports are at 42.33%, which is above the average of 34.29%. This places Colombia at rank 57 out of 149 countries.

Summary

Colombia performs below average in Manufactures exports, High-technology exports, and High-technology exports as a percentage of manufactured exports when compared globally. However, it excels in Medium and high-tech exports as a percentage of manufactured exports, surpassing the global average. These indicators are crucial as they reflect Colombia's level of technological advancement, industrial diversification, and competitiveness in the global market.

Service Exports

Colombia's Service exports amount to $5,914,665,261.32, below the average of $28,917,292,503.82, ranking 64th out of 171 countries.

ICT service exports for Colombia are $534,428,741.21, below the average of $4,578,501,153.77, ranking 64th out of 166 countries.

Colombia's ICT service exports (% of service exports) stand at 9.04%, lower than the average of 11.75%, ranking 80th out of 166 countries.

Communications, computer, etc. (% of service exports) in Colombia is at 50.94%, higher than the average of 45.85%, ranking 76th out of 169 countries.

Transport services (% of service exports) for Colombia are at 20.69%, slightly below the average of 21.80%, ranking 72nd out of 169 countries.

Colombia's Travel services (% of service exports) account for 26.51%, slightly above the average of 26.40%, ranking 64th out of 167 countries.

Insurance and financial services (% of service exports) in Colombia stand at 1.86%, well below the average of 6.46%, ranking 114th out of 161 countries.

Summary

Colombia's service exports, particularly in the ICT sector, lag behind global averages, ranking 64th for both ICT service exports and overall service exports. Colombia's specialization in communications and computer services, while strong at 50.94%, is above average, showing a competitive edge. However, its performance in insurance and financial services, at only 1.86%, indicates a significant area for potential growth and improvement. These indicators are crucial as they highlight Colombia's strengths and weaknesses in key sectors crucial for economic diversification and global competitiveness.

Commercial Service Exports

1. Commercial service exports (current US$): Colombia's commercial service exports amount to $5,703,399,351.32, which is below the average of $28,508,218,402.80. Colombia ranks 63 out of 171 countries in this attribute.

2. Travel services (% of commercial service exports): Colombia's travel services account for 27.49% of its commercial service exports, slightly below the average of 27.89%. The country ranks 65 out of 167 in this aspect.

3. Computer, communications and other services (% of commercial service exports): In Colombia, these services contribute 49.12% to commercial service exports, surpassing the average of 42.44%. The country ranks 73 out of 169 nations in this category.

4. Insurance and financial services (% of commercial service exports): Colombia's insurance and financial services represent 1.93% of commercial service exports, below the average of 6.97%. The country ranks 117 out of 161 in this metric.

5. Transport services (% of commercial service exports): Colombia's transport services make up 21.46% of commercial service exports, falling below the average of 23.37%. The country holds the 74th position out of 169 countries in this regard.

Summary

Colombia falls below the global average in commercial service exports, with a notable position of 63 out of 171 countries. While the country excels in computer, communications, and other services as well as travel services, it lags behind in insurance and financial services and transport services. These indicators are vital as they reflect Colombia's strengths and weaknesses in key sectors of its economy, influencing its competitiveness and global trade relationships.

Broad Import Attributes

Colombia's imports of goods and services amount to $55,649,241,831.61, ranking 50th out of 163 countries. This is significantly below the average import value of $126,191,355,599.06.

The country's imports of goods and services as a percentage of GDP is 20.60%, placing Colombia at the 142nd position out of 163 countries. This value is notably lower than the average percentage of GDP spent on imports, which stands at 44.15%.

Colombia's international tourism expenditures as a percentage of total imports are 3.07%. This places the country at the 65th position out of 131 countries, below the average expenditure percentage of 3.98%.

ICT goods imports in Colombia represent 10.91% of the total goods imports, ranking the country 19th out of 143 nations. This value is above the average percentage of ICT goods imports, which is 6.85%.

Colombia's goods imports amount to $41,178,755,257.09, placing the country 48th out of 171 countries. This value is significantly lower than the average goods imports value of $92,007,788,027.17.

The country's imports of goods and services (BoP) are valued at $51,328,383,610.68, ranking Colombia 52nd out of 170 nations. This amount is notably below the average imports of goods and services (BoP) value of $120,321,577,988.12.

Colombia's imports of goods, services, and primary income (BoP) stand at $60,820,882,674.10, ranking 50th out of 170 countries. This value is significantly below the average imports of goods, services, and primary income (BoP) of $144,514,428,722.28.

Summary

Colombia's imports of goods and services, both in terms of value and as a percentage of GDP, are notably below global averages. Despite ranking lower in international tourism expenditures and ICT goods imports percentages, Colombia maintains relatively lower imports compared to many other nations. This analysis sheds light on Colombia's conservative approach to imports, which can impact its trade balance, economic growth, and overall international economic competitiveness.

Merchandise Imports

Colombia's merchandise imports amount to $43,489,000,000, ranking 50th out of 190 countries globally for Merchandise imports (current US$). This value is significantly below the average of $89,385,605,263.16, indicating potential room for growth in import volumes.

In terms of Manufactures imports (% of merchandise imports), Colombia's value of 76.20% is above the average of 66.76%. This places Colombia at the 29th rank out of 152 countries, showcasing a strength in the country's import composition.

Colombia's Agricultural raw materials imports (% of merchandise imports) stand at 0.88%, ranking 100th out of 152 countries. This value is below the average of 1.27%, suggesting a potential area for diversification in import sources.

For Food imports (% of merchandise imports), Colombia records 15.18%, slightly below the average of 15.89%. This places Colombia at the 68th rank out of 152 countries, indicating a balanced reliance on food imports compared to other nations.

Colombia's Fuel imports (% of merchandise imports) represent 5.06%, notably lower than the average of 11.38%. This positions Colombia at the 130th rank out of 152 countries, showcasing a lesser dependence on imported fuel compared to many other nations.

Regarding Ores and metals imports (% of merchandise imports), Colombia's value of 1.72% is below the average of 2.57%. This places Colombia at the 74th rank out of 152 countries, signaling a moderate reliance on these imports compared to global counterparts.

Colombia's Merchandise imports by the reporting economy, residual (% of total merchandise imports) stand at 1.09%, well below the average of 2.51%. This positions Colombia at the 59th rank out of 180 countries, showcasing a relatively lower residual import component compared to many other economies.

Summary

Colombia demonstrates a potential for growth in its overall merchandise imports, as the current value is below the global average. The country excels in the importation of manufactures but could benefit from diversifying sources of agricultural raw materials. Maintaining a balanced reliance on food imports compared to other nations, Colombia shows a lesser dependence on imported fuel, and a moderate reliance on ores and metals imports. These indicators are crucial as they highlight Colombia's import strengths and areas where strategic enhancements could further bolster the country's economic resilience and competitiveness in the global market.

Service Imports

Colombia's Service imports amount to $10,149,628,353.59, ranking 54th out of 171 countries. This value is lower than the attribute average of $27,615,356,170.47.

Communications, computer, etc. comprise 38.78% of Colombia's service imports, placing it 103rd out of 169 countries. This percentage is below the attribute average of 44.40%.

Transport services represent 22.38% of Colombia's service imports, ranking 117th out of 169 countries. This figure is also lower than the attribute average of 32.90%.

Travel services constitute 13.38% of Colombia's service imports, positioning it 69th out of 169 countries. This percentage is slightly below the attribute average of 14.14%.

Insurance and financial services make up 25.45% of Colombia's service imports, ranking the country 5th out of 169 countries. This value is significantly higher than the attribute average of 8.53%.

Summary

Colombia's service imports are below the global average, with a significant portion attributed to insurance and financial services. This high percentage in insurance and financial services, ranking 5th globally, indicates a strong reliance on these sectors for international services trade, potentially highlighting the country's comparative advantage in financial services. Understanding these import compositions can help policymakers focus on enhancing competitiveness in sectors with lower percentages, like communications and transport services, to boost overall service import levels and trade balance.

Commercial Service Imports

Colombia's Commercial service imports amount to $10,042,068,793.59, ranking 54 out of 171 countries. This value is below the attribute average of $27,102,746,128.60.

Computer, communications, and other services represent 38.13% of Colombia's commercial service imports, ranking 95 out of 169 countries. This percentage is below the attribute average of 41.71%.

Insurance and financial services constitute 25.73% of Colombia's commercial service imports, ranking 6 out of 169 countries. This value is significantly above the attribute average of 8.85%.

Transport services make up 22.62% of Colombia's commercial service imports, ranking 118 out of 169 countries. This percentage falls below the attribute average of 34.71%.

Travel services represent 13.52% of Colombia's commercial service imports, ranking 69 out of 169 countries. This value is slightly below the average of 14.73%.

Summary

Colombia's commercial service imports are significant but below the global average. The country heavily relies on computer, communications, and other services, although this percentage is slightly below average. Interestingly, Colombia excels in insurance and financial services imports, surpassing the global average by a significant margin. However, there is room for improvement in transport services, which fall below the attribute average. The composition of commercial service imports reflects Colombia's economic priorities and areas of strength, highlighting the importance of diversifying and optimizing trade relationships for sustainable economic growth.

Infrastructure

- The amount of Air transport, freight in Colombia is 112.24 million ton-km above the average of 1384.37 million ton-km. Colombia ranks 18th out of 126 countries in this attribute.
- The number of Air transport, registered carrier departures worldwide in Colombia is 4663.57 departures above the average of 134365.61 departures. Colombia ranks 25th out of 149 countries in this attribute.
- Colombia's Air transport, passengers carried is 425697.02 passengers above the average of 11848242.70 passengers. Colombia ranks 28th out of 149 countries in this attribute.
- The Container port traffic (TEU: 20 foot equivalent units) in Colombia is 2634421.27 TEU below the average of 6907110.27 TEU. Colombia ranks 33rd out of 110 countries in this attribute.

Summary

Colombia performs above average in Air transport, both in terms of freight and passengers carried, ranking 18th and 28th respectively out of a large pool of countries. However, the country falls slightly below the average in terms of Container port traffic, ranking 33rd. These indicators are crucial as they reflect Colombia's connectivity with the global economy, showcasing strengths in air transport infrastructure but also highlighting potential areas for improvement in sea transport logistics.

Information Technology Infrastructure

Colombia has 20,646 secure Internet servers, which is below the attribute average of 458,294. The country ranks 59th out of 193 countries in this aspect.

Regarding secure Internet servers per 1 million people, Colombia has 405 servers, significantly lower than the average of 14,067. Colombia is ranked 101 out of 193 countries in this category.

With 69.80% of its population using the Internet, Colombia surpasses the average of 64.77%. The country holds the 105th rank out of 180 countries in this measure.

Colombia has 7,764,772 fixed broadband subscriptions, higher than the average of 6,591,956. The country ranks 28th out of 185 countries in fixed broadband subscriptions.

For mobile cellular subscriptions, Colombia boasts 67,672,570 subscriptions, surpassing the average of 42,526,463. Colombia holds the 25th rank out of 193 countries in this regard.

Summary

Colombia's macroeconomic indicators reveal strengths in internet usage with a high percentage of population using the internet and a significant number of mobile cellular subscriptions. The country also surpasses the global average in fixed broadband subscriptions. These indicators are important as they demonstrate Colombia's increasing connectivity, which can enhance communication, access to information, and drive economic development in various sectors.

Energy Consumption

Colombia's renewable energy consumption accounts for 31.31% of its total final energy consumption, which is slightly below the global average of 32.18%. The country ranks 78th out of 191 countries in this attribute. On the other hand, Colombia's CO2 emissions amount to 79,057.6 kt, significantly below the average of 171,895.94 kt. In this aspect, Colombia ranks 43rd out of 188 countries.

Summary

Colombia's renewable energy consumption is slightly below the global average, ranking 78th globally, while its CO2 emissions are significantly below the global average, ranking 43rd. These statistics highlight Colombia's relatively lower environmental impact compared to other nations. Increasing renewable energy consumption further could help Colombia improve its global ranking on environmental sustainability metrics and contribute to a cleaner and greener future.

Government Balance Sheet

1. Net acquisition of financial assets (% of GDP): Colombia's value of 3.97% is above the average of 2.45%. It ranks 19th out of 87 countries in the dataset.

2. Central government debt, total (% of GDP): Colombia's total debt of 91.22% is higher than the average of 74.12%. It also ranks 19th out of 61 countries.

3. Net incurrence of liabilities, total (% of GDP): Colombia's value of 11.99% is above the average of 7.43%. It ranks 16th out of 92 countries.

4. Total reserves (% of total external debt): Colombia's reserves account for 37.57% of its external debt, lower than the average of 66.13%. It ranks 49th out of 102 countries.

5. Reserves and related items (BoP, current US$): Colombia has a negative value in this attribute, ranking 139th out of 171 countries in the dataset.

6. Total reserves minus gold (current US$): Colombia's reserves minus gold amount to $58.25 billion, below the average of $74.22 billion. It ranks 31st out of 161 countries.

7. Total reserves (includes gold, current US$): Colombia's total reserves, including gold, are $58.50 billion, below the average of $85.71 billion. It ranks 33rd out of 161 countries.

8. Total reserves in months of imports: Colombia's reserves cover 11.54 months of imports, above the average of 7.10 months. It ranks 23rd out of 151 countries.

Summary

Colombia's macroeconomic indicators reveal mixed performance compared to global averages. While the country demonstrates strong net acquisition of financial assets and incurrence of liabilities, its high central government debt raises concerns. Colombia's reserves, both total and excluding gold, are below average, indicating a potential vulnerability in managing external financial obligations. Strengthening fiscal policies and boosting reserves could enhance Colombia's economic resilience and stability in the face of global uncertainties.

Government Revenue

Colombia's Revenue, excluding grants (% of GDP) is 23.70%, which is below the average of 27.02%. This places Colombia at rank 69 out of 122 countries.

Grants and other revenue (% of revenue) for Colombia stand at 36.05%, surpassing the average of 23.54%. Colombia is ranked 19 out of 108 countries in this aspect.

Colombia's Social contributions (% of revenue) are at 15.57%, lower than the average of 22.29%. This places Colombia at rank 54 out of 81 countries.

Taxes on goods and services (% of revenue) in Colombia are at 23.43%, below the average of 31.82%. Colombia ranks 96 out of 122 countries in this category.

Colombia has a low percentage of Taxes on international trade (% of revenue) at 1.07%, well below the average of 6.24%. This places Colombia at rank 82 out of 101 countries.

Other taxes (% of revenue) for Colombia stand at 2.15%, slightly above the average of 2.12%. The country is ranked 34 out of 106 countries in this attribute.

Taxes on income, profits and capital gains (% of revenue) in Colombia are at 21.73%, slightly below the average of 24.66%. Colombia is ranked 66 out of 119 countries in this respect.

Summary

Colombia's fiscal revenue composition shows a mixed performance compared to global averages and rankings. While the country excels in grants and other revenue, it falls behind in taxes on goods and services and international trade. This distribution is crucial as it reflects Colombia's reliance on certain revenue sources and highlights areas for potential improvement to ensure a more balanced and sustainable fiscal policy.

Taxes

Colombia's tax revenue as a percentage of GDP is 14.06%, which is below the average of 16.72%. This places Colombia at rank 77 out of 123 countries in this dataset.

The country's customs and other import duties as a percentage of tax revenue is 2.09%, significantly lower than the average of 9.01%. Colombia ranks 79 out of 99 countries in this indicator.

Colombia's taxes on income, profits, and capital gains account for 44.92% of total taxes, exceeding the average of 38.40%. This places Colombia at rank 36 out of 120 countries in this category.

The weighted mean applied tariff rate for all products in Colombia is 2.4%, lower than the average of 5.21%. This ranks Colombia 93 out of 153 countries in the dataset.

Summary

Colombia's tax revenue as a percentage of GDP is below the global average, placing the country at rank 77 out of 123 countries. Despite this, Colombia's taxes on income, profits, and capital gains exceed the average, ranking the country at 36 out of 120 countries. The country also maintains a relatively low weighted mean applied tariff rate compared to the global average.

These indicators are crucial as they provide insights into Colombia's fiscal policy and trade practices. A lower tax revenue percentage of GDP may indicate potential challenges in funding government programs, while higher taxes on income signify a heavier burden on individual and corporate finances. The lower tariff rate suggests Colombia's openness to international trade and competitiveness in attracting foreign businesses.

Government Expenses

Colombia's Expense (% of GDP) is 4.89% above the average of 31.69%, ranking 42nd out of 123 countries in the data set.

The Compensation of employees (% of expense) in Colombia is significantly below the average of 24.70%, placing it at 106th out of 123 countries.

Colombia's Goods and services expense (% of expense) is 6.61% below the average of 14.77%, ranking it at 92nd out of 122 countries.

Interest payments (% of expense) in Colombia are 2.57% above the average of 6.85%, placing it at 31st out of 121 countries.

Colombia's Other expense (% of expense) is 4.85% above the average of 8.29%, ranking 23rd out of 120 countries.

Subsidies and other transfers (% of expense) in Colombia are 15.31% above the average of 43.29%, placing it 27th out of 121 countries in the data set.

Summary

Colombia's Expense (% of GDP) is slightly above the average, indicating a moderate level of spending relative to its GDP. However, the country's Compensation of employees (% of expense) and Goods and services expense (% of expense) are notably below average, suggesting potential challenges in labor compensation and expenditure on essential goods and services. On the other hand, Colombia's Interest payments (% of expense), Other expense (% of expense), and Subsidies and other transfers (% of expense) exceed the average, signifying significant outlays in these areas which may impact fiscal sustainability and economic competitiveness.

These findings are crucial as they provide insights into Colombia's economic priorities, resource allocation, and financial health. Understanding these indicators can help policymakers, investors, and analysts assess the country's fiscal management, economic structure, and potential areas for improvement or reform to ensure sustainable economic growth and stability.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Forest area (sq. km)	13/191
Average precipitation in depth (mm per year)	1/178
Renewable internal freshwater resources, total (billion cubic meters)	6/178
Fertilizer consumption (kilograms per hectare of arable land)	8/187
Debt service on external debt, total (TDS, current US$)	12/123
Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$)	12/123
External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$)	12/123
Net secondary income (BoP, current US$)	10/170
Insurance and financial services (% of service imports, BoP)	5/169
Insurance and financial services (% of commercial service imports)	6/169

Ranks in Bottom Decile For:

Attribute	Rank/Total
Arms exports (SIPRI trend indicator values)	32/34
Trade (% of GDP)	147/163
External balance on goods and services (current US$)	155/163
Current account balance (BoP, current US$)	155/170
Net trade in goods and services (BoP, current US$)	161/171
Net financial account (BoP, current US$)	154/170