Colombia: Fiscal balance, percent of GDP

* indicates monthly or quarterly data series

Fiscal balance, percent of GDP

 Latest value -6.51
 Year 2022
 Measure percent
 Data availability 2008 - 2022
 Average -2.95
 Min - Max -7.23 - 0.38
 Source Ministry of Finance and Public Credit of Colombia
For that indicator, we provide data for Colombia from 2008 to 2022. The average value for Colombia during that period was -2.95 percent with a minimum of -7.23 percent in 2020 and a maximum of 0.38 percent in 2012. The latest value from 2022 is -6.51 percent. For comparison, the world average in 2022 based on 148 countries is -2.67 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 - Fiscal balance, percent of GDP - recent values

Historical chart
Colombia - Fiscal balance, percent of GDP - historical chart - 2008-2022

Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.

 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 13.95 2022 percent
 Government spending, in dollars 47.94 2022 billion U.S. dollars
 Fiscal balance, percent of GDP -6.51 2022 percent
 Government debt 64.95 2022 percent
 Government expenditure 56,517.75 Q3/2023 billion
 Long-term government bond yield 11.87 9/2023 percent
 Tax revenue 15.35 2022 percent
 Commercial tax rate 71.20 2019 percent
 Tax preparation time 256 2019 hours
 Number of taxes 10 2019 taxes
 Taxes on goods and services 27.02 2022 percent
 Taxes on international trade 1.67 2022 percent
 Income and profits taxes 23.40 2022 percent
 Foreign aid 1,914.81 2021 million U.S. dollars
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