Standard & Poor's credit rating for Colombia stands at BBB- with negative outlook. Colombia is ranked 4th among 32 countries in the Americas region, and its overall score is well above the regional and world averages.In an effort to propel the economy forward, the government is pursuing fiscal, constitutional, judicial, and other reforms that would improve judicial effectiveness and government integrity and reduce the tax burden. The Fedesarrollo consumer confidence index came in at minus 33.1 in June, up marginally from May’s minus 34.0 but still representing one of the worst readings on record. Colombia has experienced a historic economic boom over the last decade. Latest news and information from the World Bank and its development work in Colombia. Countries in the world ranked by Gross Domestic Product (GDP). )Colombia is the United States' fifth-largest export market in Latin America—behind Mexico, Brazil, Venezuela, and Argentina—and the 26th-largest market for U.S. products worldwide. Colombia is ranked 4th among 32 countries in the Americas region, and its overall score is well above the regional and world averages.
The economy of Colombia is the fourth largest in Latin America as measured by gross domestic product. Its diverse climate and topography permit the cultivation of a wide variety of crops. Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.In 2018, Colombia exported $9.24B worth of services. Click on the button below to get started.5 years of Colombia economic forecasts for more than 30 economic indicators.The seasonally-adjusted Davivienda manufacturing Purchasing Managers’ Index (PMI) rose by over 17 points in June, recovering after the worst readings on record in April and May.On 30 June, Colombia’s Central Bank (BanRep) decided to cut the benchmark interest rate by 25 basis points to a new record low of 2.50%.Industrial production declined a notable 35.8% year-on-year in April (March: -8.7% yoy).Get a sample report showing our regional, country and commodities data and analysis.The Fedesarrollo consumer confidence index came in at minus 33.1 in June, up marginally from May’s minus 34.0 but still representing one of the worst readings on record. )Natural gas – production:7.22 billion cu m (2006 est. Colombia improved protection of intellectual property rights through the adoption of three Andean Pact decisions in 1993 and 1994, but the U.S. remains concerned over deficiencies in licensing, patent regulations, and copyright protection.Following the War of the Thousand Days (1899–1902), Colombia experienced a coffee boom that catapulted the country into the modern period, bringing the attendant benefits of transportation, particularly railroads, communications infrastructure, and the first major attempts at manufacturing.During the 16th and 17th centuries, the colonial settlements in Colombia served purposes of extraction of precious metals and other natural resources, and later slavery trade. The financial sector remains resilient. Colombia Economic News. )Eco-tourism is very promising in Colombia. The GDP per Capita in Colombia is equivalent to 62 percent of the world's average. The overall tax burden equals 18.8 percent of total domestic income. The United States accounted for 26.5% of the total $19.4 billion stock of non petroleum foreign direct investment in Colombia at the end of 1998.Current account balance:$−6.761 billion (2008 est. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Colombia is classified as an upper middle-income economy and is one of Latin America’s largest economies, according to the International Monetary Fund. Gross domestic product (GDP) per capita (2011 PPP $) n.a. DBRS's credit rating for Colombia is BBB with negative outlook. (70% of the cut flowers imported by the U.S. come from Colombia.) The United States is Colombia's principal trading partner, with two-way trade from November 1999 through November 2000 exceeding $9.5 billion--$3.5 billion U.S. exports and $6.0 billion U.S. imports.
Gross domestic product (GDP), total (2011 PPP $ billions) n.a.
Gross fixed capital formation (% of GDP) n.a. The Colombian economy grew 3.1% in 2015, is on track to grow another 2.5% in 2016, and the Central Bank of Colombia predicts a 2% expansion for 2017. Colombia Economic Outlook. )Electricity – production:53.6 billion kWh (2007)Electricity – consumption:52.8 billion kWh (2007)Exchange rates:Colombian pesos (COP) per US dollar – 2,243.6 (2008), 2,013.8 (2007), 2,358.6 (2006), 2,320.75 (2005), 2,628.61 (2004)Household income or consumption by percentage share:lowest 10%: 0.8%highest 10%: 45.9% (2006)