2023
Flag  
GDP
$45.1BCURRENT US$
Rnk 96 / 195
2013-2023
Flag
GDP GROWTH
47.2%CURRENT US$
Rnk 80 / 195
2023
Flag
 GDP
$363BCURRENT US$
Rnk 42 / 195
2013-2023
Flag
GDP GROWTH
-4.87%CURRENT US$
Rnk 176 / 195
2023
Flag
GDP PC 
$3,686CURRENT US$
Rnk 135 / 195
2013-2023
Flag
GDP PC GROWTH
28.4%CURRENT US$
Rnk 82 / 195
2023
Flag
GDP PC
$6,947CURRENT US$
Rnk 104 / 196
2013-2023
Flag
GDP PC GROWTH
-16.1%CURRENT US$
Rnk 173 / 195

About

Bolivia-Colombia Trade: In 2023, Bolivia exported $687M to Colombia. The main products that Bolivia exported to Colombia were Soybean Meal ($310M), Soybean Oil ($238M), and Seed Oils ($35.1M). Over the past 5 years the exports of Bolivia to Colombia have increased at an annualized rate of 9.9%, from $428M in 2018 to $687M in 2023.

In 2023, Bolivia did not export any services to Colombia.

Colombia-Bolivia Trade: In 2023, Colombia exported $145M to Bolivia. The main products that Colombia exported to Bolivia were Perfumes ($13.4M), Confectionery Sugar ($10.5M), and Packaged Medicaments ($8.55M). Over the past 5 years the exports of Colombia to Bolivia have decreased at an annualized rate of 4.05%,  from $178M in 2018 to $145M in 2023.

In 2023, Colombia did not export any services to Bolivia.

Comparison: In 2023,  Bolivia ranked 105 in the Economic Complexity Index (ECI -0.85), and 103 in total exports ($10.6B). That same year, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Bolivia exported $687M to Colombia. The main products exported from Bolivia to Colombia were Soybean Meal ($310M), Soybean Oil ($238M), and Seed Oils ($35.1M). During the last 5 years the exports of Bolivia to Colombia have increased at an annualized rate of 9.9%, from $428M in 2018 to $687M in 2023.

In 2018, Colombia exported $145M to Bolivia. The main products exported from Colombia to Bolivia were Perfumes ($13.4M), Confectionery Sugar ($10.5M), and Packaged Medicaments ($8.55M). During the last 5 years the exports of Colombia to Bolivia have decreased at an annualized rate of 4.05%, from $178M in 2023 to $145M in 2018.

Exports from Bolivia (Flag) to Colombia (Flag) (2023)

Exports from Colombia (Flag) to Bolivia (Flag) (2023)

Market Competitiveness

Color
Bolivia
Top Destination
Brazil$1.54B
Colombia
Top Destination
United States$14.8B

This map shows whether countries import more from Bolivia or Colombia. Each country is colored based on the difference in imports they receive from Bolivia and Colombia or the difference in the growth in imports.

In 2023, countries that imported more from Bolivia than Colombia included Argentina ($1.15B), United Arab Emirates ($901M), and Burma ($41.3M).

In 2023, countries that imported more from Colombia than Bolivia included United States ($14.8B), Panama ($4.66B), and Netherlands ($2.38B).

Difference in imports from Colombia (Flag) and Bolivia (Flag) (2023)

Comparative Advantage Bolivia - Colombia

Flow
Scale

This chart compares trade between Bolivia and Colombia by product, considering products traded by both, Bolivia and Colombia.

During 2023, Bolivia had a large net trade with Colombia in the exports of Foodstuffs ($352M), Animal and Vegetable Bi-Products ($276M), and Animal Products ($27.5M).

During 2018, Colombia had a large net trade with Bolivia in the exports of Chemical Products ($45M), Foodstuffs ($20.8M), and Plastics and Rubbers ($16.2M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Bolivia Colombia+$6.42MSoybeans
Top Product Potential Colombia Bolivia+$8.89MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Bolivia and Colombia. This means that a dot/product with the flag of Bolivia indicates it has a comparative advantage over Colombia. Similarly, a dot/product with the flag of Colombia indicates it has a comparative advantage over Bolivia.

Product Space of Bolivia (Flag) and Colombia (Flag) (2023)

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