COLOMBIA
Investing to unlock Colombia’s vast opportunities
Bogotá 17 September 2024
oe.cd/colombia
Economic progress has been significant, thanks also to a strong macroeconomic framework
Convergence of GDP per capita to OECD levels
USD, current prices, current purchasing power parity
% of OECD average
Note: Latin America is the simple average of Argentina, Brazil, Chile, Costa Rica, Mexico and Peru.
Source: World Bank World Development Indicators (database).
A strong recovery from the COVID -19 pandemic has given way to slower growth
Note: Latin America is the purchasing power parity weighted average of Argentina, Brazil, Chile, Costa Rica, Mexico and Peru. Q1, Q2, Q3, Q4 is the first, second, third, fourth quarter.
(database).
Colombia Latin America
Growth will pick up
Source: Updated OECD Economic Outlook (database). Real
Consumer price inflation, % (fourth quarter to fourth quarter)
Sustaining strong public finances
Boosting regional development
Improving infrastructure quality requires connecting roads, railways, sea routes, and rivers
Quality of transport infrastructure
Total, score 0-100 (“best”), 2019
Note: LAC is the simple average of Argentina, Brazil, Chile, Costa Rica, Mexico and Peru.
Simplifying regulations can improve the business environment
Product Market Regulation: Simplification of the administrative and regulatory burden Score 0 to 6 (“less competition friendly”), 2023
Note: Data refer to the PMR sub-indicator: Communication and simplification of administrative and regulatory burden. LAC is the unweighted average of Brazil, Chile, Costa Rica, Mexico and Peru.
Source: OECD Product Market Regulation 2023 (database).
Improving equality of opportunities
Tackling informality is essential for lifting living standards
Note: Data show the ILO definition of informal employment as self-employment in informal enterprises (small, unregistered enterprises) and wage employment in unprotected jobs, meaning jobs with no social contributions, in both
non-wage cost of salaried workers
Expanding childcare and elderly care can boost
Accelerating the climate transition
Meeting emissions targets requires reducing deforestation
Note: 2025 and 2030 targets are from the Nationally Determined Contributions. The target for 2026 is from the 2022-2026 National Development Plan.
Source: OECD calculations based on Institute of Hydrology, Meteorology, and Environmental Studies.
Consistent
Renewable energy resources
% of total primary energy supply, 2021 or latest
Note: LAC is the simple average of Chile, Costa Rica and Mexico. Primary energy supply is defined as energy production plus energy imports, minus energy exports, minus international bunkers, then plus or minus stock changes.
Source: OECD calculations based on the OECD Green Growth Indicators (database).
Stronger climate adaptation efforts would mitigate climate risks
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Disclaimers:
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