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2023
Flag → Flag
Exports $1.1BRnk 65 / 219
2023
Flag → Flag
Top Product $117MPackaged Medicaments
2023
Flag → Flag
Exports $1.07BRnk 13 / 183
2023
Flag → Flag
Top Product $514MGold
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
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Economic Complexity (ECI) ECI 0.23Rnk 51 / 132
2023
Flag  
GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 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 $39,003CURRENT US$
Rnk 32 / 195
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195
2023
Flag
GDP PC$6,947CURRENT US$
Rnk 104 / 196
2013-2023
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GDP PC GROWTH-16.1%CURRENT US$
Rnk 173 / 195

About

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.

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.

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

Latest Trends

October, 2024

About

Overview In October 2024, Italy exported €37.7M and imported €121M from Colombia, resulting in a negative trade balance of €83.4M. Between October 2023 and October 2024 the exports of Italy have decreased by €-962k (-2.49%) from €38.6M to €37.7M, while imports increased by €34M (39%) from €87M to €121M.

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-962k(-2.49%)
IMPORT GROWTH (October 2023 - October 2024)€34M(39%)

This section shows exports and imports data at subnational level for Italy. Click any date in the line plot or any product to explore the exports or imports behavior of Italy over time.

To check Colombia and Italy trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Colombia and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, 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 2018 to $1.1B in 2023.

In 2018, 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 2023 to $1.07B in 2018.

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

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

Market Competitiveness

Color
Italy
Top DestinationGermany$71.4B
Colombia
Top DestinationUnited States$14.8B

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

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

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

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

Comparative Advantage Italy - Colombia

Flow
Scale

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

During 2023, Italy had a large net trade with Colombia in the exports of Machines ($416M), Chemical Products ($232M), and Foodstuffs ($80.5M).

During 2018, Colombia had a large net trade with Italy in the exports of Precious Metals ($545M), Vegetable Products ($257M), and Mineral Products ($143M).

Potential Exports

Potential Exports

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

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

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

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