Colombia Country Overview
Colombia, located in northern South America, has a population of 52.36 million and its capital is Bogotá. Spanish is the official language, and the majority religion is Christianity, predominantly Catholic. Colombia is relatively stable with acceptable political-economic risks, but corruption remains an issue.
Colombia General Information
Capital: Bogotá
Language: Spanish (official)
Religion: Predominantly Catholic (95%)
Currency: Colombian peso (COP)
Time Zone: UTC-5
About Colombia
The Republic of Colombia is located in northern South America, bordering Venezuela, Brazil, Peru, Ecuador and Panama. Colombia’s population stands at 52.36 million making it the 28th most populous nation globally.
The capital, Bogota, is the largest metropole with 11.6 million residents, whilst the economic centres of Medellin, Cali, Barranquilla, Bucaramanga, and Cartagena all have over one million inhabitants. Spanish is the official language and whilst the state is officially secular, around 93% of the population are nominally Christian: 79% of adherents are Catholic and 14% are Protestants.
Colombia is a relatively stable nation, particularly in relation to its neighbour, Venezuela. In terms of the political-economic outlook and the business climate, both are currently deemed to have acceptable levels of risk. The security situation is variable.
Colombia ranks 87 of 180 in Transparency International’s 2023 Corruption Index. Further data suggests that corruption is most significant in the Colombian political environment but it also exists in the business sector and judiciary. Nevertheless, anti-corruption laws are often enforced effectively.
Colombia’s GDP currently stands at US$386.08 billion. The economy is forecast to steadily grow in the near future. The official currency is the Colombian Peso.
Colombia is a presidential republic, which is pluralistic in nature. The executive power rests with the president, currently Gustavo Petro. Both the president and vice-president, currently Francia Marquez, are elected by absolute majority vote every four years.
From 2018 presidents can only serve one four-year term. Legislative power rests with the bicameral Congress. The Senate is elected by a constituency-based proportional representation popular vote, as is the Chamber of Representatives and members of both serve four year terms, with the next election scheduled for May 2026.
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