Overview In 2020 Colombia was the number 40 economy in the world in terms of GDP (current US$), the number 61 in total exports, the number 53 in total imports, the number 99 economy in terms of GDP per capita (current US$) and the number 52 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Colombia are Petroleum oils and oils obtained from bituminous minerals; crude ($7.46B), Coal; briquettes, ovoids and similar solid fuels manufactured from coal ($4.13B), Coffee, whether or not roasted or decaffeinated; husks and skins; coffee substitutes... ($2.54B), Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or... ($2.34B), and Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing... ($1.55B), exporting mostly to United States ($9.55B), China ($2.8B), Ecuador ($1.51B), Panama ($1.43B), and Brazil ($1.28B).

Imports The top imports of Colombia are Transmission apparatus for radio-broadcasting or television, whether or not incorporating reception apparatus... ($1.99B), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing... ($1.95B), Motor cars and other motor vehicles; principally designed for the transport of... ($1.47B), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of... ($1.31B), and Maize (corn) ($1.11B), importing mostly from United States ($11.1B), China ($10B), Mexico ($2.76B), Brazil ($2.41B), and Germany ($1.55B).

In 2020, Colombia was the world's biggest importer of Chassis; fitted with engines, for the motor vehicles of heading no. 8701 to 8705 ($157M)

Location Colombia borders Brazil, Ecuador, Panama, Peru, and Venezuela by land and Costa Rica, Dominican Republic, Haiti, Honduras, Jamaica, Nicaragua, and Cayman Islands by sea.

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The following section uses the most recent trade data from partners of Colombia.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Historical Data

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Top Export (2020): Petroleum oils and oils obtained from bituminous minerals; crude, $7.46B

Top Destination (2020): United States, $11.1B

In 2020, Colombia exported a total of $32.2B, making it the number 61 exporter in the world. During the last five reported years the exports of Colombia have changed by -$5.01B from $37.2B in 2015 to $32.2B in 2020.

The most recent exports are led by Petroleum oils and oils obtained from bituminous minerals; crude ($7.46B), Coal; briquettes, ovoids and similar solid fuels manufactured from coal ($4.13B), Coffee, whether or not roasted or decaffeinated; husks and skins; coffee substitutes... ($2.54B), Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or... ($2.34B), and Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing... ($1.55B). The most common destination for the exports of Colombia are United States ($9.55B), China ($2.8B), Ecuador ($1.51B), Panama ($1.43B), and Brazil ($1.28B).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

Colombia Exports Services (2019): $9.94B

Colombia Imports Services (2019): $13.8B

In 2019, Colombia exported $9.94B worth of services. The top services exported by Colombia in 2019 were Personal travel ($5.65B), Transportation ($1.97B), Other business services ($1.48B), Computer and information services ($351M), and Government services, n.i.e. ($183M).

The top services imported by Colombia in 2019 were Personal travel ($4.98B), Transportation ($3.2B), Other business services ($1.39B), Financial services ($1.32B), and Insurance services ($1.05B).

Economic Complexity

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The product space is a network connecting products that are likely to be co-exported. 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. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Colombia. These are products that tend to be co-exported with the products that Colombia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Colombia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨47th to the 52nd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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