Compensation of employees (current LCU) in Colombia
Colombia: Compensation of employees (current LCU) was 59.35 trillion current LCU in 2024. ▲ Rising
Compensation of employees in Colombia, 1998–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
Colombia recorded 59.35 trillion current LCU for compensation of employees in 2024. That is the highest value across all 21 years on record.
Compared with earlier readings it is up 14.3% on the previous year and up 168.4% over ten years.
Over the whole period, compensation of employees in Colombia peaked at 59.35 trillion current LCU in 2024 and was at its lowest, 11.77 trillion current LCU, in 1998.
That places Colombia 6th out of 156 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently rising across the 21 years of available data.
Compensation of employees (current LCU) in Colombia, year by year
| Year | current LCU | Change |
|---|---|---|
| 1998 | 11.77 trillion current LCU | — |
| 1999 | 14.16 trillion current LCU | +20.3% |
| 2000 | 15.89 trillion current LCU | +12.3% |
| 2003 | 15.18 trillion current LCU | -4.5% |
| 2008 | 21.49 trillion current LCU | +41.6% |
| 2009 | 23.28 trillion current LCU | +8.3% |
| 2010 | 25.38 trillion current LCU | +9.0% |
| 2011 | 34.53 trillion current LCU | +36.1% |
| 2012 | 18.77 trillion current LCU | -45.6% |
| 2013 | 18.61 trillion current LCU | -0.9% |
| 2014 | 22.12 trillion current LCU | +18.8% |
| 2015 | 24.04 trillion current LCU | +8.7% |
| 2016 | 26.48 trillion current LCU | +10.1% |
| 2017 | 28.82 trillion current LCU | +8.8% |
| 2018 | 39.55 trillion current LCU | +37.2% |
| 2019 | 35.21 trillion current LCU | -11.0% |
| 2020 | 38.95 trillion current LCU | +10.6% |
| 2021 | 40.57 trillion current LCU | +4.2% |
| 2022 | 45.13 trillion current LCU | +11.2% |
| 2023 | 51.92 trillion current LCU | +15.0% |
| 2024 | 59.35 trillion current LCU | +14.3% |
Colombia compared with similar countries
- Colombia's 59.35 trillion current LCU is above the median for upper middle income countries, which is 95.94 billion current LCU, 618.7× the median. (47 countries reporting)
- Colombia's 59.35 trillion current LCU is above the median for Latin America & Caribbean, which is 34.98 billion current LCU, 1696.9× the median. (25 countries reporting)
Biggest year-on-year movements
Years where Compensation of employees (current LCU) in Colombia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2012 | -45.6% | 34.53 trillion current LCU | 18.77 trillion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 12.96 trillion current LCU | 11.77 trillion current LCU | 14.16 trillion current LCU | 2 |
| 2000s | 18.96 trillion current LCU | 15.18 trillion current LCU | 23.28 trillion current LCU | 4 |
| 2010s | 27.35 trillion current LCU | 18.61 trillion current LCU | 39.55 trillion current LCU | 10 |
| 2020s | 47.18 trillion current LCU | 38.95 trillion current LCU | 59.35 trillion current LCU | 5 |
Countries ranked near Colombia
More public sector data for Colombia
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 22.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 0.3593 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 533.33 % change on previous year (2024)
Frequently asked questions
- What is compensation of employees in Colombia?
- Compensation of employees in Colombia was 59.35 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest compensation of employees recorded in Colombia?
- The highest recorded value was 59.35 trillion current LCU in 2024.
- What is the lowest compensation of employees recorded in Colombia?
- The lowest recorded value was 11.77 trillion current LCU in 1998.
- How does Colombia rank for compensation of employees?
- Colombia ranks 6th out of 156 countries with data for 2024.
- Is compensation of employees rising or falling in Colombia?
- Over the last ten years it is up 168.4%. The long-run trend across the full record is rising.
- Where does this Colombia data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Compensation of employees (current LCU). Statizoid updates them automatically from the source API.
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About this data
Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.