Market profile

Colombia's impressive economic performance over the past decade has caught the attention of Australia and other foreign investors. Colombia is one of the countries with greater economic stability in the region.

Colombia boasts strong macroeconomic fundamentals, an environment conducive to business and a proactive approach to economic liberalisation, all of which make it a prime target for Australia’s expanding engagement with Latin America.

Oil accounts for the largest portion of the country’s exports, generating about 20 per cent of government revenue. The sharp drop in crude dramatically affected government agencies, with areas such as education, infrastructure, health and social investment being targeted for budget reductions. 

More information on doing business in Colombia

Opportunities

Facts

  • Merchandise exports A$52 million
  • Services exports A$675 million
  • Capital Bogotá
  • Official language Spanish
  • Area 1,109,500 sq km
  • Population 49.8 million

Information provided by DFAT

Country brief

A comprehensive overview of political, economic and bilateral and regional trade agreements.

» read more at DFAT

Trade and economic fact sheet

Containing general information, recent economic indicators, Australia’s trade and investment relationship with Colombia and their global merchandise trade relationship that is updated twice a year.

» read more at DFAT

Smartraveller

The Department of Foreign Affairs and Trade’s Smartraveller site provides advice for business travellers and tourists going to Colombia. This is regularly updated and should be checked before planning travel.

» read more at DFAT

Extractive Industries Transparency Initiative

The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.

The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.

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