Colombia Facts And Figures

Find out interesting facts and figures about Colombia such as inflation rate, seasons, government, residency, visa requirements, and more.

We Value Your Privacy! We will not share your email address with anyone else, period.

Colombia Facts And Figures

Colombia is located in South America. This culture-rich country has a coastline on the Pacific Ocean and Caribbean Sea.

Bordered by Panama, Ecuador, Chile, Brazil, and Venezuela, Colombia is an integral part of the South American continent.

The total land area of Colombia is 401,044 square miles (1,038,699 square kilometers). Colombia is renowned for its beaches, natural landscapes, outdoor activities, and vibrant society.

Home to the second largest population in South America, surpassed only by Brazil, Colombia’s free market economy continues to draw investment attention the world over.

Reviewed By Lief Simon

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

Start Your New Overseas Life Today

A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2025

We Value Your Privacy! We will not share your email address with anyone else, period.

Colombia Facts


Information Type	Colombia Data
Population	52,886,363 (2024 est.)
Gross Domestic Product PPP (GDP)	US$818.00 Billion (2023 est.)
GDP Per Capita	US$6,417 (2023. est.)
Inflation Rate	9.3% (2023 est.)
Currency	Colombian Peso
Exchange Rate Versus U.S. Dollar	3,940.68 pesos per U.S. dollar (March, 2024)
Language	Spanish (official)
Capital	Bogota
Population of Capital City	11.66 million (metropolitan area) (2024 est.)
Time Zone	UTC/GMT - 5 hours
Seasons	There are alternating dry and wet seasons corresponding to summer and winter, respectively.
International Dialing Code	57
Electricity	110-120 V - 220-240V appliances: Plug adapter + step-up transformer
System of Government	Republic. Executive branch dominates government structure.
Current Leader	President Gustavo Petro (since Aug. 2022)
Property Tax	The rates of the unified property tax on the aggregate value of the land and buildings range between 0.5% and 1.4%.
Capital Gains Tax	0% to 10%
Inheritance Tax	Inheritance/ estate tax – Gifts are treated as capital gains and subject to tax as ordinary income.
Rental Income Tax	Income from leasing real property is considered as ordinary income and taxed at 33%. Rental income is subject to 3.5% withholding tax, which is considered as advance tax payment.
Sales Tax	19%
Restrictions on Foreign Ownership of Property	None
Local Chamber of Commerce
American Chamber of Commerce
Primary Exports	Petroleum, coffee, spices, emeralds, coal, nickel, live trees, apparel, plastic, bananas.
Residency and Visa Requirements	The process for residency is fairly simple and straightforward, with low income and investment requirements.
Special Benefits for Foreign Residents or Retirees	A retirement visa, requires you to be receiving retirement benefits from the U.S.
National Airline	Avianca

Start Your New Life Overseas Today!

Sign up for our free daily e-letter, Overseas Opportunity Letter, and we'll send you a FREE report on the 10 Best Places To Retire In 2025.

We Value Your Privacy! We will not share your email address with anyone else, period.

Reviewed By Lief Simon

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

Start Your New Overseas Life Today

We Value Your Privacy! We will not share your email address with anyone else, period.

Colombia Facts And Figures- FAQs

Be The First To Ask About Colombia Facts And Figures

Where Is Portugal?

Portugal is on the Iberian Peninsula, in the southwest corner of Europe. Portugal shares that peninsula Spain, its larger neighbor.

What Is Portugal Known For?

Portugal is known for Fado music and also for being the largest cork producer in the world.

When Are The Best Months To Travel To Portugal?

Portugal’s high season is during July and August, especially to coastal areas. Expect to pay at least a 30% premium on accommodation and encounter warm weather across the country.

Is Portugal A Good Place For Retirement

Yes, Portugal is a sought after retirement destination. In fact, it’s one the world’s top retirement havens.