Colombia: Remittances, percent of GDP

* indicates monthly or quarterly data series
 Colombia

Remittances as percent of GDP

 Latest value 2.78
 Year 2023
 Measure percent
 Data availability 1970 - 2023
 Average 1.29
 Min - Max 0.18 - 3.25
 Source The World Bank
The latest value from 2023 is 2.78 percent, an increase from 2.74 percent in 2022. In comparison, the world average is 5.13 percent, based on data from 174 countries. Historically, the average for Colombia from 1970 to 2023 is 1.29 percent. The minimum value, 0.18 percent, was reached in 1975 while the maximum of 3.25 percent was recorded in 2003. 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 data
Colombia - Remittances, percent of GDP - Recent values chart

Historical series
Colombia - Remittances, percent of GDP - historical chart - 1970-2023




Definition: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.

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 Related indicators Latest Reference Measure
 Terms of trade 126.39 2021 percent
 Trade openness 40.48 2023 percent
 Financial openness -0.166 2021 index points
 Exports, percent of GDP 17.76 2023 percent
 Exports, billion dollars 64.57 2023 billion U.S. dollars
 Growth of exports 3.13 2023 percent
 Imports, percent of GDP 22.72 2023 percent
 Imports, billion dollars 82.61 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 5.00 2022 percent
 Foreign Direct Investment, billion dollars 17.18 2022 billion U.S. dollars
 Portfolio investment inflows, equities 19.92 2023 million dollars (current)
 Current account, percent of GDP -3.88 2023 percent
 Current account, in dollars -9.72 2023 billion U.S. dollars
 Trade balance, percent of GDP -7.20 2022 percent
 Trade balance, in dollars -8.22 2023 billion U.S. dollars
 Reserves 59.04 2023 billion U.S. dollars
 Remittances, percent of GDP 2.78 2023 percent
 Remittances 10,111.59 2023 million U.S. dollars
 Net errors and omissions 835.79 2023 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 60.93 6/2024 billion
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