Colombia: Trade openness

* indicates monthly or quarterly data series
 Colombia

Trade openness: exports plus imports as percent of GDP

 Latest value 40.49
 Year 2023
 Measure percent
 Data availability 1960 - 2023
 Average 32.32
 Min - Max 21.55 - 48.07
 Source The World Bank
The latest value from 2023 is 40.49 percent, a decline from 48.07 percent in 2022. In comparison, the world average is 95.00 percent, based on data from 154 countries. Historically, the average for Colombia from 1960 to 2023 is 32.32 percent. The minimum value, 21.55 percent, was reached in 1967 while the maximum of 48.07 percent was recorded in 2022. 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 - Trade openness - Recent values chart

Historical series
Colombia - Trade openness - historical chart - 1960-2023




Definition: Exports plus imports as percent of GDP.

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

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 Related indicators Latest Reference Measure
 Terms of trade 126.39 2021 percent
 Trade openness 40.49 2023 percent
 Financial openness -0.166 2021 index points
 Exports, percent of GDP 17.76 2023 percent
 Exports, billion dollars 64.84 2023 billion U.S. dollars
 Growth of exports 3.13 2023 percent
 Imports, percent of GDP 22.72 2023 percent
 Imports, billion dollars 82.35 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 4.72 2023 percent
 Foreign Direct Investment, billion dollars 17.14 2023 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 -9.13 2023 billion U.S. dollars
 Trade balance, percent of GDP -4.96 2023 percent
 Trade balance, in dollars -7.96 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 804.30 2023 million USD
 External debt 55.79 2022 percent
 Short-term external debt 10.09 2023 percent
 Short-term debt to reserves 33.74 2023 percent
 Foreign exchange reserves 63.61 9/2024 billion
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