Colombia - Income





The US Central Intelligence Agency (CIA) reports that in 2001 Colombia's gross domestic product (GDP) was estimated at $255 billion. The per capita GDP was estimated at $6,300. The annual growth rate of GDP was estimated at 1.5%. The average inflation rate in 2001 was 7.6%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 19% of GDP, industry 26%, and services 55%.

According to the United Nations, in 2000 remittances from citizens working abroad totaled $1.578 billion or about $38 per capita and accounted for approximately 1.9% of GDP. Worker remittances in 2001 totaled $1.776 billion. Foreign aid receipts amounted to about $9 per capita.

The World Bank reports that in 2001 per capita household consumption (in constant 1995 US dollars) was $1,446. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings. The richest 10% of the population accounted for approximately 46.1% of household consumption and the poorest 10% approximately 1.1%. It was estimated that in 2001 about 55% of the population had incomes below the poverty line.

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