Colombia GDP Growth Rate (1961–2023)
Colombia’s GDP growth demonstrates a pattern of resilience and gradual development despite periods of volatility. The 1960s and 1970s were characterized by steady expansion, with growth peaking at 7.7% in 1972, supported by agricultural productivity and resource extraction. The 1980s saw fluctuations, with economic reforms and external debt crises affecting growth, which reached a low of -4.2% in 1999.
The early 2000s marked a gradual recovery, driven by improved security conditions and economic reforms, with growth reaching 6.9% in 2011. However, global oil price fluctuations led to slower growth in the mid-2010s. The COVID-19 pandemic caused a sharp decline of -7.2% in 2020, followed by a strong recovery, peaking at 10.8% in 2021, supported by fiscal stimuli and a rebound in domestic demand.
By 2023, growth moderated to 0.6%, reflecting global economic challenges, tighter monetary policies, and reduced external demand for Colombia’s exports.
Discover additional trends and data on Colombia’s annual GDP, Colombia’s agriculture share in GDP, Colombia’s goods export value.
