
Colombia
Slowing economic growth, rising macroeconomic policy risks
B2
MEDIUM RISK
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in January 2023.
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GDP | USD 314.32bn (World ranking 43, World Bank 2021) |
Population | 51.27mn (World ranking 29, World Bank 2021) |
Form of state | Presidential republic |
Head of state |
Gustavo Petro (President) |
Next elections | 2026 (Congress & Presidential) |

- Natural resource base: agricultural, energy and minerals
- Strong medium-term growth
- Pro-business environment
- Fiscal sustainability principle included in the Constitution
- Support from international financial institutions
- Independent monetary authorities

- Sensitive to commodity price fluctuations and the U.S. business cycle
- Difficult security situation with long running domestic insurgency and drug trafficking
- Rule of law and control of corruption remain areas of concern
- High informality in the job market
- Skewed income distribution
Trade structure by destination/origin
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
United States
28.1%
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1 |
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China
8.8%
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2 |
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Panama
5.8%
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3 |
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India
5.4%
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4 |
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Brazil
5.0%
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5 |
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Trade structure by product
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
32.6%
|
1 |
7.8%
Road vehicles
|
Coal, coke and briquettes
13.7%
|
2 |
6.7%
Medicinal and pharmaceutical products
|
Coffee, tea, cocoa, spices, and manufactures thereof
8.8%
|
3 |
6.1%
Petroleum, petroleum products and related materials
|
Gold, non-monetary (excluding gold ores and concentrates)
7.6%
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4 |
6.0%
Telecommunication and sound recording apparatus
|
Crude animal and vegetable materials, n.e.s.
4.4%
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5 |
5.1%
Iron and steel
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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