IMD World Competitiveness Booklet 2023

Competitiveness Country Profiles

Colombia Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Bogota

1.141 2022 4,256 2022

52

Exchange rate (per $)

54

56

50,79 2022 17 343,9 2022 37 18.997 2022 55 7,5 2022 07 10,18 2022 44 11,20 2022 59 25,04 2022 15 -6,24 2022 55 218,9 2021 29 2,94 2021 29

57

Population - market size (millions)

58

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

• Close productivity gaps in agriculture and industry through innovation. • Implement strategies to improve resilience against climate impacts. • Improve the effectiveness of investment in science, technology, and innovation. • Execute strategic projects that generate greater regional impact. • Control the inflationary pressure.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: National Planning Department

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

7

34

36

37

45

47

48

50

52

56 53

57

57 56

57

59

61 56 58

63

PEER GROUPS RANKINGS THE AMERICAS (9 countries)

POPULATIONS > 20 MILLION (27 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

5

5

22

22

6

6

6

23

23

23

67