Colombia - statistics & facts
Economy
The Colombian economy showed a strong performance before slumping in 2015 and 2016, picking up partially before plummeting again in 2020 and showing a strong recovery in 2022. The fluctuation of the country’s GDP growth rate can consequently be observed in its GDP per capita, which also slumped to its lowest values in years during that time. It is, however, expected to keep growing in the next few years. Despite the slight economic recovery experienced after 2016, Colombia's unemployment rate continued to increase, soaring in 2020 to its highest level since the beginning of the 21st century. As of 2023, the unemployment rate is again at pre-pandemic levels.The services sector is the most important one when it comes to contributing to Colombia's GDP, followed by the industry sector. Together, they accounted for more than 80 percent of the country’s GDP. Although agriculture is an important sector for Colombians, it contributes only slightly to the country's overall economy with less than 10 percent.