Taxes on goods and services in Colombia
Colombia: Taxes on goods and services was 8.8% in 2024. ▲ Rising
Taxes on goods and services in Colombia, 1998–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % value added of industry and services.
Analysis
The most recent figure for taxes on goods and services in Colombia is 8.8%, measured in 2024.
That represents a change of down 4.0% on the previous year and up 10.8% over ten years.
Over the whole period, taxes on goods and services in Colombia peaked at 9.5% in 2022 and was at its lowest, 5.9%, in 1998.
Colombia ranks 88th of 154 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 19 years of available data.
Taxes on goods and services in Colombia, year by year
| Year | % value added of industry and services | Change |
|---|---|---|
| 1998 | 5.9% | — |
| 2003 | 6.6% | +12.7% |
| 2008 | 7.7% | +16.0% |
| 2009 | 6.9% | -9.9% |
| 2010 | 7.2% | +3.3% |
| 2011 | 7.4% | +3.4% |
| 2012 | 7.3% | -1.7% |
| 2013 | 7.5% | +3.0% |
| 2014 | 8.0% | +6.5% |
| 2015 | 8.1% | +1.8% |
| 2016 | 7.7% | -4.9% |
| 2017 | 7.6% | -2.2% |
| 2018 | 7.7% | +1.6% |
| 2019 | 8.8% | +14.1% |
| 2020 | 8.1% | -7.1% |
| 2021 | 8.8% | +7.6% |
| 2022 | 9.5% | +8.5% |
| 2023 | 9.2% | -3.0% |
| 2024 | 8.8% | -4.0% |
Colombia compared with similar countries
- Colombia's 8.8% is below the median for upper middle income countries, which is 9.8%, 90% of the median. (48 countries reporting)
- Colombia's 8.8% is below the median for Latin America & Caribbean, which is 9.1%, 97% of the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 5.9% | 5.9% | 5.9% | 1 |
| 2000s | 7.1% | 6.6% | 7.7% | 3 |
| 2010s | 7.7% | 7.2% | 8.8% | 10 |
| 2020s | 8.9% | 8.1% | 9.5% | 5 |
Countries ranked near Colombia
More public sector data for Colombia
- Arms imports 19.00 million SIPRI trend indicator values (2024)
- 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)
- Arms imports (SIPRI trend indicator values), gaps filled 19.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 285.45 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0359 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 40.05 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 15.10 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 2.7 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is taxes on goods and services in Colombia?
- Taxes on goods and services in Colombia was 8.8% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Colombia?
- The highest recorded value was 9.5% in 2022.
- What is the lowest taxes on goods and services recorded in Colombia?
- The lowest recorded value was 5.9% in 1998.
- How does Colombia rank for taxes on goods and services?
- Colombia ranks 88th out of 154 countries with data for 2024.
- Is taxes on goods and services rising or falling in Colombia?
- Over the last ten years it is up 10.8%. 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 Taxes on goods and services (% value added of industry and services). Statizoid updates them automatically from the source API.
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About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of value added in industry and services which is the contribution to the economy by industries in ISIC (Rev. 3) divisions 05-43 and 50-99.