Source: world bank Nominal/PPP
Summary:
Colombia GDP Per Capita expanded from 1960 to 2024, increasing from $4.03 to $418.82 .The compound annual growth rate (CAGR) averaged 7.53% over the period. The economy recorded its peak level in 2024 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 29.24%, indicating the largest cyclical decline from peak levels. The country experienced 8 recession episode(s) during the observed period.
Colombia Economic Phases (1960 - 2024)
From 1960 to 2024, Colombia economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1961–1962) indicating robust economic expansion
- Contraction (1965–1966) indicating temporary slowdown
- High Growth (1969–1982) indicating robust economic expansion
- Contraction (1983–1985) indicating temporary slowdown
- Expansion (1986–1987) indicating steady moderate growth
- High Growth (1992–1997) indicating robust economic expansion
- Contraction (2001–2003) indicating temporary slowdown
- High Growth (2004–2008) indicating robust economic expansion
- High Growth (2010–2012) indicating robust economic expansion
- High Growth (2017–2018) indicating robust economic expansion
- High Growth (2021–2024) indicating robust economic expansion
The most remarkable growth occurred in 2007 with an increase of 27.465%, while the largest decline was in 2015 at -23.017%.