Taxes on goods and services in Colombia
Colombia: Taxes on goods and services was 122.84 trillion current LCU in 2024. ◆ Volatile
Taxes on goods and services in Colombia, 1998–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
Colombia recorded 122.84 trillion current LCU for taxes on goods and services in 2024. That is the highest value across all 19 years on record.
That represents a change of up 3.1% on the previous year and up 135.6% over ten years.
Over the whole period, taxes on goods and services in Colombia peaked at 122.84 trillion current LCU in 2024 and was at its lowest, 7.05 trillion current LCU, in 1998.
That places Colombia 3rd out of 157 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 7.05 trillion current LCU | 7.05 trillion current LCU | 7.05 trillion current LCU | 1 |
| 2000s | 25.14 trillion current LCU | 15.13 trillion current LCU | 30.83 trillion current LCU | 3 |
| 2010s | 52.44 trillion current LCU | 33.01 trillion current LCU | 78.14 trillion current LCU | 10 |
| 2020s | 101.92 trillion current LCU | 67.92 trillion current LCU | 122.84 trillion current LCU | 5 |
Countries ranked near Colombia
- 1 Indonesia 256.25 trillion current LCU compare
- 2 Lebanon 151.40 trillion current LCU compare
- 4 South Korea 114.81 trillion current LCU compare
- 5 Uzbekistan 80.19 trillion current LCU compare
- 6 Iran 36.64 trillion current LCU compare
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 taxes on goods and services in Colombia?
- Taxes on goods and services in Colombia was 122.84 trillion current LCU 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 122.84 trillion current LCU in 2024.
- What is the lowest taxes on goods and services recorded in Colombia?
- The lowest recorded value was 7.05 trillion current LCU in 1998.
- How does Colombia rank for taxes on goods and services?
- Colombia ranks 3rd out of 157 countries with data for 2024.
- Is taxes on goods and services rising or falling in Colombia?
- Over the last ten years it is up 135.6%. The long-run trend across the full record is volatile.
- 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 (current LCU). 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 in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.