Colombia

Country Summary

Introduction

Background

Colombia was one of three countries that emerged after the dissolution of Gran Colombia in 1830 -- the others are Ecuador and Venezuela. Despite decades of internal conflict and drug-trade-related challenges, Colombia maintains relatively strong democratic institutions characterized by peaceful, transparent elections and the protection of civil liberties.

Geography

Area

total: 1,138,910 sq km
land: 1,038,700 sq km
water: 100,210 sq km

Climate

tropical along coast and eastern plains; cooler in highlands

Natural resources

petroleum, natural gas, coal, iron ore, nickel, gold, copper, emeralds, hydropower

People and Society

Population

49,336,454 (2023 est.)

Ethnic groups

Mestizo and White 87.6%, Afro-Colombian (includes Mulatto, Raizal, and Palenquero) 6.8%, Indigenous 4.3%, unspecified 1.4% (2018 est.)

Languages

Spanish (official) and 65 Indigenous languages

Religions

Christian 92.3% (predominantly Roman Catholic), other 1%, unspecified 6.7% (2020 est.)

Population growth rate

0.54% (2023 est.)

Government

Government type

presidential republic

Capital

name: Bogotá

Executive branch

chief of state: President Gustavo Francisco PETRO Urrego (since 7 August 2022); Vice President Francia Elena MÁRQUEZ Mina (since 7 August 2022); the president is both chief of state and head of government
head of government: President Gustavo Francisco PETRO Urrego (since 7 August 2022); Vice President Francia Elena MÁRQUEZ Mina (since 7 August 2022)

Legislative branch

description: bicameral Congress or Congreso consists of:
Senate or Senado (108 seats; 100 members elected in a single nationwide constituency by party-list proportional representation vote, 2 members elected in a special nationwide constituency for indigenous communities, 5 members of the Commons political party, formerly the People's Alternative Revolutionary Force (FARC), for 2 legislative terms only: 2018-2022 and 2022-2026 as per the 2016 peace accord, and 1 seat reserved for the runner-up presidential candidate in the recent election; all members serve 4-year terms)

Chamber of Representatives or Camara de Representantes (188 seats; 162 members elected in multi-seat constituencies by party-list proportional representation vote, 2 members elected in a special nationwide constituency for Afro-Colombians, 1 member elected by Colombians residing abroad, 1 member elected in a special nationwide constituency for the indigenous communities, 5 members of the Commons political party for two legislative terms only: 2018-2022 and 2022-2026 as per the 2016 peace accord, 16 seats for rural conflict victims for two legislative terms only: 2022-2026 and 2026-2030, and 1 seat reserved for the runner-up vice presidential candidate in the recent election; all members serve 4-year terms)


Economy

Economic overview

prior to COVID-19, one of the most consistent growth economies; declining poverty; large stimulus package has mitigated economic fallout, but delayed key infrastructure investments; successful inflation management; sound flexible exchange rate regime; domestic economy suffers from lack of trade integration and infrastructure

Real GDP (purchasing power parity)

$810.104 billion (2022 est.)
$755.295 billion (2021 est.)
$680.347 billion (2020 est.)

Real GDP per capita

$15,600 (2022 est.)
$14,700 (2021 est.)
$13,400 (2020 est.)

Agricultural products

sugar cane, milk, oil palm fruit, potatoes, rice, bananas, cassava leaves, plantains, poultry, maize

Industries

textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds

Exports

$73.112 billion (2022 est.)
$50.907 billion (2021 est.)
$38.224 billion (2020 est.)

Exports - partners

United States 31%, China 11%, Panama 6%, Ecuador 5% (2019)

Exports - commodities

crude petroleum, coal, coffee, gold, refined petroleum (2021)

Imports

$89.54 billion (2022 est.)
$70.909 billion (2021 est.)
$51.328 billion (2020 est.)

Imports - partners

United States 27%, China 20%, Mexico 7%, Brazil 6% (2019)

Imports - commodities

refined petroleum, cars, broadcasting equipment, packaged medicines, corn (2019)

Exchange rates

Colombian pesos (COP) per US dollar -
Exchange rates:
4,256.194 (2022 est.)
3,744.244 (2021 est.)
3,693.276 (2020 est.)
3,281.622 (2019 est.)
2,955.704 (2018 est.)


Page last updated: Friday, April 12, 2024