Nominal GDP for Colombia was $418.7bn in 2024, up from $367.2bn in 2023. The Colombian population was estimated at 52.9m in 2024 according to the IMF, while the United States is Colombia’s biggest trading partner.
Variables Surveyed for Colombia
Variables covered in our monthly analysis of Colombia include:
- Gross Domestic Product
- Final Consumption
- Gross Fixed Investment
- Manufacturing Production
- Consumer Prices
- Merchandise Exports
- Merchandise Imports
- Trade Balance
- Current Account Balance
- Foreign Currency Reserves
- Peso Currency Forecasts
Consensus Forecasts for Colombia
Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. in the PDF publication, we also show selected “comparison forecasters” including the IMF, the ECLAC and OECD. The example below is an illustrative historical survey snapshot from September 2022, showing how individual forecasts and the consensus are presented.
Source: Latin American Consensus Forecasts, September 2022
Special Surveys
In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for Colombia on topics such as:- Quarterly Forecasts
- Long-Term 5 and 10 Year Forecasts
- Economic Policy Evaluation, and
- Sectoral Growth and Foreign Direct Investment
Main Data Sources for Colombia
- National Administrative Department of Statistics: The National Administrative Department of Statistics, commonly referred to as DANE, is the Colombian Administrative Department responsible for the planning, compilation, analysis and dissemination of the official statistics of Colombia.
- Bank of the Republic: Banco de la República is the central bank of Colombia. It was initially established under the regeneration era in 1880. Its main modern functions, under the new Colombian constitution were detailed by Congress according to Ley 31 de 1992. One of them is the issuance of the Colombian currency, the peso.
Comprehensive Forecasts Coverage
Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at editors@consensuseconomics.com should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.Explore forecasts across Latin America
Alongside this country forecast, explore the other economies covered by our Latin America forecast publication.