Overview: In 2018 Colombia was the number 37 economy in the world in terms of GDP (current US$), the number 55 in total exports, the number 52 in total imports,
the number 96 economy in terms of GDP per capita (current US$) and the number 56 most complex economy according to the Economic Complexity Index (ECI)
In 2018, Colombia exported a total of $43.2B, making it the number 55 exporter in the world. During the last five reported years the exports of Colombia have changed by -$17.6B from $60.8B in 2013 to $43.2B in 2018.
In 2018 Colombia imported $49.3B, making it the number 52 trade destination in the world. During the last five reported years the imports of Colombia changed by -$8.13B from $57.4B in 2013 to $49.3B in 2018.
In 2018, Colombia exported $9.24B worth of services. The top services exported by Colombia in 2018 were Personal travel ($5.56B), Air transport ($1.63B), Miscellaneous business, professional, and technical services ($1.14B), Sea transport ($207M), and Telecommunications services ($201M).
The top services imported by Colombia in 2018 were Personal travel ($4.83B), Miscellaneous business, professional, and technical services ($1.62B), Sea transport ($1.55B), Air transport ($1.38B), and Reinsurance ($899M).
This section shows forecasts for total product exports and imports for Colombia. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
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.
Colombia has a high level of specialization in Cut Flowers (68.7), Coke (36.5), Coffee (32.3), Bananas (31.8), and Coal Briquettes (22.3). Specialization is measured using RCA, an index that takes the ratio between Colombia observed and expected exports in each product.
The top export opportunities for Colombia according to the relatedness index, are Other Oily Seeds (0.16), Insect Resins (0.16), Cocoa Beans (0.16), Fruit Juice (0.15), and Coconuts, Brazil Nuts, and Cashews (0.15). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Colombia is not specialized in.
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 it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a 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 emissions.