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 9.01 %
Data 2021 Q1 57,152
2020 Q4 52,428

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 3/31/2021

Colombia: Trade

Reference Last Previous Units Frequency
Balance of Goods 2021 Q1 -3,941 -3,954 Mil. USD, NSA Quarterly
Current Account Balance 2021 Q1 -3,633 -3,098 Mil. USD, NSA Quarterly
Exports of Goods 2021 Q1 10,671 10,088 Mil. USD, NSA Quarterly
Exports of Goods and Services 2021 Q1 40,566 33,472 Bil. COP, CDASA Quarterly
Imports of Goods 2021 Q1 14,613 14,042 Mil. USD, NSA Quarterly
Imports of Goods and Services 2021 Q1 57,152 52,428 Bil. COP, CDASA Quarterly
Net Exports Mar 2021 1,608 963.43 Mil. USD FOB/CIF Monthly
Real Exports of Goods and Services 2021 Q1 29,595 26,113 Bil. 2015 COP, CDASA Quarterly
Real Imports of Goods and Services 2021 Q1 47,274 43,049 Bil. 2015 COP, CDASA 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
Where:

  • 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.