Flag Colombia

Econ Complexity (2018): 0.23, Rank 56 of 137

Product Exports (2018): $43.2B, Rank 55 of 222

Exports Per Capita (2018): $871, Rank 195 of 219

Product Imports (2018): $49.3B, Rank 52 of 221

Imports Per Capita (2018): $992, Rank 205 of 219

Service Exports (2018): $9.24B, Rank 30 of 88

Service Imports (2018): $11.9B, Rank 29 of 88

GDP (2018): $331B, CURRENT US$
Rank 37 of 196

GDP growth (2008 - 2018): 37%, CURRENT US$
Rank 103 of 196

GDP PC (2018): $6,668, CURRENT US$
Rank 96 of 196

GDP PC GROWTH (2008 - 2018): 22.1%, CURRENT US$
Rank 101 of 196

Overview: This page contains the latest international trade data for Colombia, including service trade data, and tariffs. 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, and the number 56 most complex economy according to the Economic Complexity Index (ECI). In 2018, Colombia exported $43.2B and imported $49.3B, resulting in a negative trade balance of -$6.04B. In 2018, Colombia's exports per capita were $871 and its imports per capita were $992.

Trade: The top exports of Colombia are Crude Petroleum ($13.8B), Coal Briquettes ($7.45B), Refined Petroleum ($2.96B), Coffee ($2.35B), and Cut Flowers ($1.46B). The top imports of Colombia are Refined Petroleum ($2.94B), Cars ($2.19B), Broadcasting Equipment ($2.04B), Packaged Medicaments ($1.23B), and Corn ($1B).

Destinations: Colombia exports mostly to United States ($11.5B), China ($4.07B), Panama ($3.07B), Ecuador ($1.86B), and Turkey ($1.7B), and imports mostly from United States ($13.6B), China ($9.68B), Mexico ($3.77B), Brazil ($2.86B), and Germany ($1.82B).

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.

Yearly Exports

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Value
Depth

Top Export (2018): Crude Petroleum, $13.8B

Top Destination (2018): United States, $11.5B

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.

The most recent exports are led by Crude Petroleum ($13.8B), Coal Briquettes ($7.45B), Refined Petroleum ($2.96B), Coffee ($2.35B), and Cut Flowers ($1.46B). The most common destination for the exports of Colombia are United States ($11.5B), China ($4.07B), Panama ($3.07B), Ecuador ($1.86B), and Turkey ($1.7B).

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Yearly Imports

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Value
Depth

Top Import (2018): Refined Petroleum, $2.94B

Top Origin (2018): United States, $13.6B

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.

The most recent imports of Colombia are led by Refined Petroleum ($2.94B), Cars ($2.19B), Broadcasting Equipment ($2.04B), Packaged Medicaments ($1.23B), and Corn ($1B). The most common import partners for Colombia are United States ($13.6B), China ($9.68B), Mexico ($3.77B), Brazil ($2.86B), and Germany ($1.82B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Colombia Exports Services (2018): $9.24B

Colombia Imports Services (2018): $11.9B

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).

Trade Forecasts

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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.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Colombia are Bovine carcasses and half carcasses, fresh or chilled (80%) and Bovine carcasses and half carcasses, frozen (80%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Colombia are:
14: AAP.A25TM N┬░ 29Acuerdo de Alcance Parcial Suscrito al Amparo del Art├şculo 25 del TM80 entre la Rep├║blica de Colombia y la Rep├║blica de Panam├í
18: AAP.A25TM N┬░ 5 Acuerdo de Alcance Parcial entre la Rep├║blica de Guatemala y la Rep├║blica de Guatemala y la Rep├║blica de Colombia
19: AAP.A25TM N┬░ 6 Acuerdo de Alcance Parcial Suscrito entre la Rep├║blica de Colombia y la Rep├║blica de Nicaragua
20: AAP.A25TM N┬░ 7 Acuerdo de Alcance Parcial Suscrito entre la Rep├║blica de Colombia y la Rep├║blica de Costa Rica
21: AAP.A25TM N┬░ 8 Acuerdo de Alcance Parcial Suscrito entre la Rep├║blica de Colombia y la Rep├║blica de El Salvador
22: AAP.A25TM N┬░ 9 Acuerdo de Alcance Parcial Suscrito entre la Rep├║blica de Colombia y la Rep├║blica de Honduras
23: AAP.AG N┬░ 02 - Acuerdo de Alcance Parcial para la Liberaci├│n y Expansi├│n del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM80
25: AAP.C N┬║ 28 Acuerdo de Alcance Parcial de Naturaleza Comercial entre la Rep├║blica de Colombia y la Rep├║blica Bolivariana de Venezuela
32: AAP.CE N┬░ 24 Acuerdo de Complementaci├│n Econ├│mica para el Establecimiento de un Espacio Ampliado entre Colombia y Chile (acuerdo N┬░ 24)
34: AAP.CE N┬░ 33 Acuerdo de Complementaci├│n Econ├│mica N┬░ 33 Colombia M├ęxico Venezuela
45: AAP.CE N┬░ 49 Acuerdo de Complementaci├│n Econ├│mica N┬░ 49 Celebrado entre la Rep├║blica de Colombia y la Rep├║blica de Cuba
61: AAP.CE N┬░ 59 - Complementaci├│n Econ├│mica entre Argentina, Brasil, Paraguay, Uruguay, Colombia, Ecuador y Venezuela
79: AR.AM N┬░ 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia
80: AR.AM N┬░ 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
81: AR.AM N┬░ 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay
82: AR.CEYC N┬░ 7 Acuerdo de Cooperaci├│n e Intercambio en las ├üreas Cultural, Educacional y Cient├şfica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, M├ęxico, Panam├í, Paraguay, Per├║, Uruguay)
83: AR.PAR N┬░ 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador M├ęxico Panam├í Paraguay Per├║ Uruguay Venezuela)
136: Most Favoured Nation duty rate treatement
154: Preferential tariff Agreement between Caribbean Community (CARICOM) member states
178: Preferential tariff for Canada
182: Preferential tariff for Chile
219: Preferential tariff for European Union countries (AA) Association Agreement
238: Preferential tariff for Iceland
249: Preferential tariff for Korea, Republic of
270: Preferential tariff for Mexico
281: Preferential tariff for Norway
289: Preferential tariff for Peru
307: Preferential tariff for Switzerland and Liechtenstein
311: Preferential tariff for The Andean Community ( Spanish: Comunidad Andina, CAN)
328: Preferential tariff for United States

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Colombia'sÔüę ÔüĘeconomy has become relatively less complex, moving from the ÔüęÔüĘ51st to the 56thÔüę 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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Most Specialized Products by RCA Index

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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.

Most Complex Products by PCI

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The highest complexity exports of Colombia according to the product complexity index (PCI) are Pipe fittings, of iron or steel (1.2), Motor vehicle chassis fitted with engine (0.9), Electrical insulators of any material (0.81), Cellulose, chemical derivatives nes in primary forms (0.81), and Polymers of styrene, in primary forms (0.8). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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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.

Diversification Frontier

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Depth

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.