Economy of Colombia

Common card · No. 215459

Colombia has the fourth largest economy in Latin America as measured by gross domestic product and the third-largest economy in South America. Throughout most of the 20th century, Colombia was Latin America's 4th and 3rd largest economy when measured by nominal GDP, real GDP, GDP (PPP), and real GDP at chained PPPs. Between 2012 and 2014, it became the third largest in Latin America by nominal GDP. As of 2024, the GDP (PPP) per capita has increased to over Int$19,000, and real gross domestic product at chained PPPs increased from Int$250 billion in 1990 to over Int$1 trillion in 2024. Poverty levels were as high as 65% in 1990, but decreased to under 30% by 2014, and 27% by 2018. They decreased by an average of 1.35% per year since 1990. Petroleum is Colombia's main export, representing over 45% of Colombia's exports. Manufacturing represents nearly 12% of Colombia's exports and grows at a rate of over 10% a year. Colombia has the fastest growing information technology industry in the world...

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