Importing from Colombia

Colombia Import Guide | Trade Finance Global

Importing from Colombia

Colombia ranks 54th on the world country playing field in terms of importing, focusing mainly on importing industrial and transportation equipment, consumer goods and chemicals. Importing mainly from the USA, China and Mexico, Colombia import around $57 billion USD of goods each year.

Columbia is an upper middle-income economy and is becoming an established financial centre in Latin America

Colombia Country Profile

Official Name (Local Language) República de Colombia
Capital Bogota
Population 47,220,856
Currency Colombian Peso
GDP Colombian Peso
Languages Spanish
Telephone Dial In 57

Colombia Exports Profile

Exports ($m USD)

37,766

Number of Export Products

3,41

Number of Export Partners

18

Top 5 export partners

Country

Trade

% Partner Share

United States

11,012

29.16

Panama

2,584

6.84

China

2

5.29

Netherlands

1,542

04.08

Mexico

1,537

Top 5 Export Products at HS 6 digit level

Export product

Number

Petroleum oils and oils obtained from bituminou

7.9%

Bituminous coal, not agglomerated

4.5%

Coffee, not roasted or decaffeinated

4.3%

Petroleum oils, etc, (excl. crude); preparation

2.8%

Gold in unwrought forms non-monetary

2.4%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Colombia

Agriculture

%

Product list

6.8%

Coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oil seed, vegetables; shrimp; forest products

Industry

%

Industry List

0,34

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

Services

%

Services List

59.2%

Importing from Colombia: What is trade finance?

Most of Colombia’s export market is heavily reliant on commodities such as petroleum (45% of total), coffee, coal and nickel, although tourism and entertainment industry is increasing by 12% per year.

Despite a challenging economy, Colombia is a powerhouse in Latin America, and is actively engaged in international import and export markets.

Information

Importing from Colombia? Contact our local experts

Colombia Economic Statistics

Government Website

https://www.presidencia. gov.co/

Sovereign Ratings

https://countryeconomy. com/ratings/colombia

Central Bank

Banco de la República de Colombia

Currency USD Exchange Rate

3,051.1

Unemployment Rate

9.2%

Population below poverty line

27.8%

Inflation Rate

5.8%

Prime Lending Rate

7.5%

GDP

$274.1 billion

GDP Pro Capita (PPP)

$14,100

Currency Name

Colombian Peso

Currency Code

COP

World Bank Classification

Upper Middle Income

Competitive Industrial Performance

61/138

Corruption Perceptions Index

96/180

Ease of Doing Business

65/190

Enabling Trade Index

85/136

Currency in Colombia

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