Economy, Finance and Trade: Colombia

March 2023

Colombia's inflation surged in 2022, driven by a global imbalance between supply and demand, as well as increases in energy and food prices. Higher costs for businesses and eroded consumer real income gains reduced purchasing power. Nonetheless, inflationary pressures are expected to cool down as commodity prices ease, and demand weakens. Colombia's central bank raised key interest rates, aiming to control rising inflation, but this is expected to weigh on economic activity and investment.

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The Country Briefings series examine market potential, economic and consumer trends impacting each country and how they are set to change.

Each Country Briefing covers one of these topics:

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Economy, Finance and Trade: Colombia


Colombia to witness slow economic expansion
Colombia tightens its monetary policy to stabilise the inflation
Mineral products remain the largest export category
Investments in fixed assets continued to increase in 2022
Public debt-to-GDP ratio fell, while public spending over 2022


Chart 1 Economic Landscape of Colombia 2022-2027
Chart 2 Real GDP Growth in Colombia 2010-2027
Chart 3 GDP Size and Growth 2017-2027
Chart 4 Gross Value Added by Sector in Colombia 2022
Chart 5 Domestic Demand 2022 and Period Growth 2017-2022
Chart 6 Standardised Business Confidence Index 2017-2024
Chart 7 Standardised Consumer Confidence Index 2017-2024
Chart 8 Productivity 2017/2022
Chart 9 Productivity by Sector in Colombia 2022 and CAGR 2017-2022
Chart 10 Monetary Landscape of Colombia 2022
Chart 11 Inflation 2017-2027
Chart 12 Average Inflation 2017-2027
Chart 13 Interest Rates in Colombia 2017-2024
Chart 14 Exchange Rates 2017-2024
Chart 15 Money Supply Growth and Money Velocity in Colombia 2017-2024
Chart 16 Foreign Trade Landscape of Colombia 2022
Chart 17 Exports and Export Price Index in Colombia 2017-2022
Chart 18 Exports by Commodity in Colombia 2022
Chart 19 Top 10 Export Destinations 2022 and Period Growth 2017-2022
Chart 20 Imports and Import Price Index in Colombia 2017-2022
Chart 21 Imports by Commodity in Colombia 2022
Chart 22 Top 10 Import Origins 2022 and Period Growth 2017-2022
Chart 23 Investment Landscape of Colombia 2021-2022
Chart 24 Foreign Direct Investment Inflows and FDI intensity 2021
Chart 25 Foreign Direct Investment Inflows and Outflows in Colombia 2016-2021
Chart 26 Gross Fixed Capital Formation in Colombia 2017-2024
Chart 27 Government Budget Landscape of Colombia 2022
Chart 28 Public Debt 2022
Chart 29 Government Revenue 2022
Chart 30 Government Expenditure 2022
Chart 31 Government Expenditure by Economic Type in Colombia 2022
Chart 32 Government Expenditure by Function in Colombia 2022 and Period Growth 2017-2022
Chart 33 Baseline and Scenario Forecasts in Colombia 2020-2026

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