Compensation of employees in Colombia
Colombia: Compensation of employees 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.
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
- Arms imports 19.00 million SIPRI trend indicator values (2024)
- Tax revenue 15.2% (2024)
- Taxes on income, profits and capital gains 24.1% (2024)
- Taxes on goods and services 24.3% (2024)
- Net investment in nonfinancial assets 0.8% (2024)
- Net lending (+) / net borrowing (-) -4.6% (2024)
- Interest payments 13.9% (2024)
- Grants and other revenue 28.4% (2024)
- Interest payments 13.2% (2023)
- Other taxes 1.8% (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.