Colombia: Trade balance, percent of GDP

* indicates monthly or quarterly data series
 Colombia

Trade balance as percent of GDP

 Latest value -7.20
 Year 2022
 Measure percent
 Data availability 1960 - 2022
 Average -1.67
 Min - Max -7.59 - 6.84
 Source The World Bank
For that indicator, we provide data for Colombia from 1960 to 2022. The average value for Colombia during that period was -1.67 percent with a minimum of -7.59 percent in 2021 and a maximum of 6.84 percent in 1986. The latest value from 2022 is -7.2 percent. For comparison, the world average in 2022 based on 149 countries is -4.42 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Colombia - Trade balance, percent of GDP - Recent values chart

Historical chart
Colombia - Trade balance, percent of GDP - historical chart - 1960-2022




The trade balance for Colombia and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).

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The Balance of Payments: the current and financial accounts



 Related indicators Latest value Reference Measure
 Terms of trade 126.39 2021 percent
 Trade openness 48.37 2022 percent
 Financial openness -0.166 2021 index points
 Exports, percent of GDP 20.58 2022 percent
 Exports, billion dollars 70.73 2022 billion U.S. dollars
 Growth of exports 14.84 2022 percent
 Imports, percent of GDP 27.78 2022 percent
 Imports, billion dollars 95.47 2022 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 5.00 2022 percent
 Foreign Direct Investment, billion dollars 16.87 2022 billion U.S. dollars
 Portfolio investment inflows, equities -551.03 2022 million dollars (current)
 Current account, percent of GDP -3.88 2023 percent
 Current account, in dollars -21.53 2022 billion U.S. dollars
 Trade balance, percent of GDP -7.20 2022 percent
 Trade balance, in dollars -16.43 2022 billion U.S. dollars
 Reserves 56.70 2022 billion U.S. dollars
 Remittances, percent of GDP 2.75 2022 percent
 Remittances 9,448.99 2022 million U.S. dollars
 Net errors and omissions 807.41 2022 million USD
 External debt 55.79 2022 percent
 Short-term external debt 10.38 2022 percent
 Short-term debt to reserves 33.72 2022 percent
 Foreign exchange reserves 57.60 9/2023 billion
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