Gross Domestic Product in U.S. Dollars for Colombia
COLNGDPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
427,464,490,163.00
Year-over-Year Change
15.42%
Date Range
1/1/2011 - 1/1/2024
Summary
The Gross Domestic Product in U.S. Dollars for Colombia measures the total value of all goods and services produced in the Colombian economy, expressed in U.S. dollars. This metric is essential for analyzing Colombia's economic performance and its position in the global economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Gross Domestic Product (GDP) is the primary indicator of a country's economic activity and standard of living. The GDP in U.S. dollars for Colombia provides a standardized measure of the size and growth of the Colombian economy, allowing for comparisons with other countries and the evaluation of economic policies.
Methodology
The data is calculated by the Colombian National Administrative Department of Statistics (DANE) based on the market value of all final goods and services produced within the country.
Historical Context
Policymakers and analysts use Colombia's GDP in U.S. dollars to assess the country's economic health, inform investment decisions, and guide macroeconomic policies.
Key Facts
- Colombia is the fourth-largest economy in Latin America by GDP.
- The Colombian economy grew by 5.1% in 2021, rebounding from the COVID-19 pandemic.
- The services sector accounts for the largest share of Colombia's GDP, contributing around 60% to the total.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product in U.S. Dollars for Colombia measures the total value of all goods and services produced within the Colombian economy, expressed in U.S. dollar terms.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for analyzing Colombia's economic performance, benchmarking it against other countries, and informing investment and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the Colombian National Administrative Department of Statistics (DANE) based on the market value of all final goods and services produced within the country.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use Colombia's GDP in U.S. dollars to assess the country's economic health, guide macroeconomic policies, and inform investment decisions.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with some potential for minor revisions to previous periods.
Related Trends
5-Bank Asset Concentration for Colombia
DDOI06COA156NWDB
Constant GDP per capita for Colombia
NYGDPPCAPKDCOL
Consumer Price Index: Communication (COICOP 08): Total for Colombia
COLCP080000GPQ
Use of Financial Services: Key Indicators, Deposit Accounts with Credit Unions and Financial Cooperatives Per 1000 Adults for Colombia
COLFCAODUANUM
Infra-Annual Labor Statistics: Employment Total: From 25 to 54 Years for Colombia
COLLFEM25TTSTM
Amount Outstanding Due within One Year of International Debt Securities for Non-financial Corporations Sector, Residence of Issuer in Colombia
IDS1YMAORINCCO
Citation
U.S. Federal Reserve, Gross Domestic Product in U.S. Dollars for Colombia (COLNGDPD), retrieved from FRED.