2023
Flag  
GDP
$363BCURRENT US$
Rnk 42 / 195
2013-2023
Flag
GDP GROWTH
-4.87%CURRENT US$
Rnk 176 / 195
2023
Flag
 GDP
$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH
6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC 
$6,947CURRENT US$
Rnk 104 / 195
2013-2023
Flag
GDP PC GROWTH
-16.1%CURRENT US$
Rnk 173 / 195
2023
Flag
GDP PC
$39,003CURRENT US$
Rnk 32 / 196
2013-2023
Flag
GDP PC GROWTH
9.11%CURRENT US$
Rnk 136 / 195

About

Colombia-Italy Trade: In 2023, Colombia exported $1.07B to Italy. The main products that Colombia exported to Italy were Gold ($514M), Bananas ($187M), and Coal Briquettes ($143M). Over the past 5 years the exports of Colombia to Italy have increased at an annualized rate of 7.01%, from $761M in 2018 to $1.07B in 2023.

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

Italy-Colombia Trade: In 2023, Italy exported $1.1B to Colombia. The main products that Italy exported to Colombia were Packaged Medicaments ($117M), Washing and Bottling Machines ($33.4M), and Jewellery ($31.1M). Over the past 5 years the exports of Italy to Colombia have increased at an annualized rate of 5.73%,  from $830M in 2018 to $1.1B in 2023.

In 2002, Italy exported services to Colombia worth $15.7M, with Travel ($11.5M), Transportation ($2.1M), and Insurance services ($1.05M) being the largest in terms of value.

Comparison: In 2023,  Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Colombia exported $1.07B to Italy. The main products exported from Colombia to Italy were Gold ($514M), Bananas ($187M), and Coal Briquettes ($143M). During the last 5 years the exports of Colombia to Italy have increased at an annualized rate of 7.01%, from $761M in 2018 to $1.07B in 2023.

In 2018, Italy exported $1.1B to Colombia. The main products exported from Italy to Colombia were Packaged Medicaments ($117M), Washing and Bottling Machines ($33.4M), and Jewellery ($31.1M). During the last 5 years the exports of Italy to Colombia have increased at an annualized rate of 5.73%, from $830M in 2023 to $1.1B in 2018.

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

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

Latest Data

Trade between Colombia (Flag) and Italy (Flag)

Colombia Exports

Italy Exports

Market Competitiveness

Color
Colombia
Top Destination
United States$14.8B
Italy
Top Destination
Germany$71.4B

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

In 2023, countries that imported more from Colombia than Italy included Panama ($4.66B), Ecuador ($2.19B), and Venezuela ($673M).

In 2023, countries that imported more from Italy than Colombia included Germany ($71.4B), France ($61.1B), and United States ($70.9B).

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

Comparative Advantage Colombia - Italy

Flow
Scale

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

During 2023, Colombia had a large net trade with Italy in the exports of Precious Metals ($545M), Vegetable Products ($257M), and Mineral Products ($143M).

During 2018, Italy had a large net trade with Colombia in the exports of Machines ($416M), Chemical Products ($232M), and Foodstuffs ($80.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Colombia Italy+$83MCoal Briquettes
Top Product Potential Italy Colombia+$56MPackaged Medicaments

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 Colombia and Italy. This means that a dot/product with the flag of Colombia indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Colombia.

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

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