Colombia - Imports of Goods and Services

Colombia: Imports of Goods and Services

Mnemonic IM.ICOL
Unit Bil. COP, CDASA
Adjustments Calendar Adjusted and Seasonally Adjusted
Quarterly 10.15 %
Data 2021 Q3 74,900
2021 Q2 68,001

Series Information

Source National Administrative Department of Statistic (DANE) - Colombia
Release GDP - Current and Constant Prices
Frequency Quarterly
Start Date 3/31/1994
End Date 9/30/2021

Colombia: Trade

Reference Last Previous Units Frequency
Exports of Goods and Services 2021 Q3 50,964 41,860 Bil. COP, CDASA Quarterly
Imports of Goods and Services 2021 Q3 74,900 68,001 Bil. COP, CDASA Quarterly
Real Exports of Goods and Services 2021 Q3 31,479 28,277 Bil. 2015 COP, CDASA Quarterly
Real Imports of Goods and Services 2021 Q3 55,431 52,575 Bil. 2015 COP, CDASA Quarterly
Net Exports Aug 2021 2,030 1,419 Mil. USD FOB/CIF Monthly
Balance of Goods 2021 Q2 -5,467 -3,862 Mil. USD, NSA Quarterly
Current Account Balance 2021 Q2 -4,635 -3,344 Mil. USD, NSA Quarterly
Exports of Goods 2021 Q2 10,976 10,737 Mil. USD, NSA Quarterly
Imports of Goods 2021 Q2 16,444 14,599 Mil. USD, NSA Quarterly

Release Information

For Colombia, the expenditure approach to GDP from the quarterly national accounts. Quarterly from 1994.

Gross Domestic Product (GDP) is the monetary value of all domestic finished goods and services. The Departmento Administrativo Nacional de Estadistica (DANE) reports GDP at constant prices to adjust for inflations. Data is also reported at current prices. The data set includes quarterly chain-linked percent change of GDP and its components.  

GDP and its components are indexed 2015 = 100 and are not seasonally adjusted (NSA) or calendar day and seasonally adjusted (CDASA). DANE calculated GDP from the point of view of supply and demand using the following equation:

GDP = ΣVA + Tx GDP = GCF + FBKF + Δ Inv + X - M

  • GDP = Gross Domestic Product
  • GCF = Final Consumption Expenditure
  • VA = Added value of branches of activity
  • At basic prices FBKF = Gross Fixed Capital Formation
  • Tx = Net taxes on products that include: Δ Inv = Change in Inventories
  • + Taxes and duties on imports X = Exports
  • + Non-deductible VAT M = Imports
  • + Other Taxes on products
  • - Product subsidies

The data are preliminary when first released, and become provisional four months later.

Concurrent with the change in currency reference year for the quarterly national accounts during 2018Q1, the source redefined their treatment of insurance premium payments, which shifted final consumption expenditure to the private institutional sector from government.