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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 | $271.4 billion | Languages | Spanish | Telephone Dial In | 57 |
Colombia Exports Profile
Exports ($m USD)
37,766
Number of Export Products
3,410
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
4.08
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.
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
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Careers | Terms of Business | Get in Touch | Partners
Trade Finance Global is the trading name of TFG Finance Ltd (company number: 10305143) and TFG Publishing Ltd (12157036), incorporated in England and Wales, at 201 Haverstock Hill, Second Floor Fkgb, London, England, NW3 4QG. Trade Finance Global is registered as a Data Controller under the ICO: ZB421903 and ZB436621.
TFG Finance Ltd is an introducer, not a lender, working with Limited Companies and Incorporated Bodies who may pay us a commission.
© 2024 Trade Finance Global