ශ්රී ලංකා ප්රජාතාන්ත්රික සමාජවාදී ජනරජයේ තානාපති කාර්යාලය - බ්රසීලියාව, බ්රසීලය
இலங்கை ஜனநாயக சோஷலிசக் குடியரசின் தூதரகம் - பிரசீலியா, பிரேசில்
Embassy of the Democratic Socialist Republic of Sri Lanka - Brasilia, Brazil
Colombia: Economic & Trade
Economic and Social Indicators - Colombia and Sri Lanka
| Colombia | Sri Lanka | |
|---|---|---|
| Official Name | Republic of Colombia | Democratic Socialist Republic of Sri Lanka |
| Area | 1,138,910 sq. km | 65,610 Sq. Km |
| Capital | Bogota | Sri Jayewardenepura Kotte |
| Population | 49,588,357 (2024 est.) | 21,982,608 (2024 est.) |
| Life Expectancy | 74.9 years (2024 est.) | 76.8 years (2024 est.) |
| Literacy | 95.6% (2020 est.) | 93% (2020) |
| Ethnic Groups | Mestizo and White 87.6%, Afro-Colombian (Includes Mulatto, Raizal, And Palenquero) 6.8%, Amerindian 4.3%, Unspecified 1.4% (2018 est.) | Sinhalese 74.9%, Sri Lankan Tamil 11.2%, Sri Lankan Moors 9.3%, Indian Tamil 4.1%, Other 0.5% (2012) |
| Religions | Roman Catholic 63.6%, Protestant 17.2% (Evangelical 16.7%, Adventist 0.3%, other Protestant 0.2%), Jehovah's Witness 0.6%, Church of Jesus Christ 0.1%, other 0.3%, believer, 0.2%. agnostic 1%, atheist 1%, none 14.2%, unspecified 1.8% (2023 est.) | Buddhist 70.1%, Hindu 12.6%, Muslim 9.7%, Christian and Roman Catholic 7.6% (2012) |
| GDP | US$ 363.54 billion (2023) Source World Bank | US$ 84.36 billion (2023) Source World Bank |
| GDP - Rate | 3.26% (2019 est.) | -2.3% (2023) Source World Bank |
| GDP - Per Capita | US$ 6,979.73 (2023) Source World Bank | US$ 3,827.96 (2023) Source World Bank |
| GDP Composition by Sector | Agriculture: 8.7% (2023 est.); Industry: 24.5% (2023 est.); Services: 56.9% (2023 est.) | Agriculture: 8.3% (2023 est.); Industry: 25.6% (2023 est.); Services: 59.9% (2023 est.) |
| Labor Force | 26.003 million (2023 est.) | 8.707 million (2023 est.) |
| Labor Force - By Occupation | Agriculture: 17%; Industry: 21%; Services: 62% (2011 est.) | Agriculture: 27.3% (2021 Provisional); Industry: 26.0% (2021 Provisional); Services: 46.7% (2021 Provisional) |
| Unemployment Rate | 9.57% (2023 est.) | 6.36% (2023 est.) |
| Inflation Rate | 11.74% (2023 est.) | 16.54% (2023 est.) |
| Agriculture Products | Sugarcane, Oil palm fruit, Milk, Rice, Plantains, Potatoes, Bananas, Maize, Chicken, Avocados (2023) | Rice, Coconuts, Plantains, Tea, Sugarcane, Milk, Cassava, Fiber crops, Maize, Chicken (2022) |
| Industries | Textiles, Food processing, Oil, Clothing and Footwear, Beverages, Chemicals, Cement; Gold, Coal, Emeralds | Processing of rubber, Tea, Coconuts, Tobacco and other agricultural commodities; Tourism; Clothing and textiles; Mining |
| Export – Merchandise | US$ 31.05 billion (2020) | US$ 11.911 billion (2023) Source World Bank |
| Export – Merchandise & Services | US$ 67.762 billion (2023 est. | US$ 17.327 billion (2023) Source World Bank |
| Exports Commodities | Crude petroleum, Coal, Gold, Coffee, Refined petroleum (2023) | Garments, Tea, Precious stones, Used rubber tires, Rubber products (2023) |
| Exports Partners | USA 27%, Panama 9%, India 5%, China 5%, Netherlands 4% (2023) | USA 22%, India 7%, Germany 7%, UK 7%, Italy 5% (2023) |
| Imports | US$ 75.983 billion (2023 est.) | US$ 18.823 billion (2023 est.) |
| Imports Commodities | Refined petroleum, Cars, Broadcasting equipment, Aircraft, Packaged medicine (2023) | Refined petroleum, Fabric, Crude petroleum, Packaged medicine, Cotton fabric (2023) |
| Import partners | USA 26%, China 22%, Brazil 6%, Mexico 5%, Germany 4% (2023) | India 21%, China 19%, UAE 10%, Singapore 5%, Malaysia 4% (2023) |
Source: The World Fact book/ Central Bank Report of Sri Lanka
1. Sri Lanka’s Exports, Imports, Total Trade & Balance of Trade with Colombia
The total trade turnover between Sri Lanka and Colombia, as shown in Table 1 below, has been rather erratic over the past six years.
Table 1: Trade with Colombia
Values in US$ Mn.
| Year | Exports - Value | Exports - Growth(%) | Imports - Value | Imports - Growth(%) | Total Trade Turnover - Value | Total Trade Turnover - Growth(%) | Trade Balance | Import Coverage (%) |
|---|---|---|---|---|---|---|---|---|
| 2019 | 12.23 | - | 0.19 | - | 12.42 | - | 12.04 | 6,436.84 |
| 2020 | 16.89 | 38.10 | 0.31 | 63.16 | 17.20 | 38.49 | 16.58 | 5,448.39 |
| 2021 | 19.37 | 14.68 | 0.74 | 138.71 | 20.11 | 16.92 | 18.63 | 2,617.57 |
| 2022 | 17.84 | -7.90 | 0.59 | -20.27 | 18.43 | -8.35 | 17.25 | 3,023.73 |
| 2023 | 11.66 | -34.64 | 1.22 | 106.78 | 12.88 | -30.11 | 10.44 | 955.74 |
| 2024 | 19.16 | 64.32 | 0.60 | -50.82 | 19.76 | 53.42 | 18.56 | 3,193.33 |
| 2024 (Jan -Nov) | 17.77 | - | 0.55 | - | 18.32 | - | 17.22 | 3,232.11 |
| 2025 (Jan - Nov) | 20.95 | 17.89 | 0.90 | 63.41 | 21.84 | 19.26 | 20.05 | 2,331.84 |
Source: Sri Lanka Customs
The value of Sri Lanka’s exports to Colombia has fluctuated during the review period, reaching its peak of US$ 19.37 million in 2021. On the imports front, the value of Sri Lank’s imports from Colombia has also fluctuated during the review period, registering its highest value of US$ 1.22 million in 2023. The trade balance has consistently been in favor of Sri Lanka.
When compared with January to November period of 2024, both Sri Lanka’s total exports to Colombia and total imports from Colombia increased by 17.89% and 63.41% respectively in 2025.
Sri Lanka’s Exports to Colombia
- Colombia was the 58th export market for Sri Lanka, with a share of 0.16 % in 2024. In 1977, Colombia was also Sri Lanka’s 58th export market, but with a share of 0.06%.
- As shown in Table 2 below, cinnamon and cinnamon-tree flowers were the dominant export items, accounting for 58.30% of the value of Sri Lanka´s exports to Colombia in 2024.
Table 2: Sri Lanka’s Major Export Items to Colombia (2020 - 2024)
Values in US$ Mn.
| HS Code | Description | 2020 | 2021 | 2022 | 2023 | 2024 | Share in 2024 (%) | Change in 2024 over 2023 (%) |
|---|---|---|---|---|---|---|---|---|
| 0906 | Cinnamon and cinnamon-tree flowers | 11.63 | 12.82 | 9.00 | 6.03 | 11.17 | 58.30 | 85.24 |
| 61 & 62 | Apparel | 2.27 | 3.69 | 5.23 | 2.89 | 2.64 | 13.77 | -8.85 |
| 4015 | Articles of apparel and clothing accessories | 1.26 | 0.91 | 1.68 | 0.51 | 1.68 | 8.76 | 229.99 |
| 1513 | Cocount (copra), palm kernel or babassu oil and fractions thereof, | 0.27 | 0.29 | 0.20 | 0.41 | 0.76 | 3.96 | 86.32 |
| 530500 | Other vegetable textile fibres; | 0.14 | 0.22 | 0.19 | 0.13 | 0.61 | 3.16 | 358.10 |
| 15131111 | Virgin coconut oil | 0.03 | 0.56 | 2.94 | 2072.91 | |||
| 401290 | Retreaded or used pneumatic tyres of rubber; | 0.37 | 0.56 | 0.49 | 0.58 | 0.43 | 2.26 | -25.16 |
| 80111 | Desiccated Coconut | 0.14 | 0.03 | 0.08 | 0.33 | 1.70 | 329.37 | |
| 4011 | New pneumatic tyres, of rubber | 0.23 | 0.41 | 0.46 | 0.43 | 0.32 | 1.65 | -27.43 |
| Others | 0.57 | 0.47 | 0.57 | 0.57 | 0.67 | 3.51 | 17.49 | |
| Total Export | 16.89 | 19.37 | 17.84 | 11.66 | 19.16 | 100.00 | 64.33 |
Source: Sri Lanka Customs
Sri Lanka’s Imports from Colombia
- Colombia was the 98thsupplier to Sri Lanka, with a share of 0.003 % in 2024.
- As shown in Table 3, Special woven fabrics of chapter 58 was the main import item from Colombia, accounting for 64.73% of the total imports from Colombia in 2024.
Table 3: Sri Lanka’s Major Import Items from Colombia (2020 –2024)
Values in US$ Mn.
| HS Code | Description | 2020 | 2021 | 2022 | 2023 | 2024 | Share in 2024 (%) | Change in 2024 over 2023 (%) |
|---|---|---|---|---|---|---|---|---|
| 58 | Special woven fabrics; | 0.13 | 0.62 | 0.37 | 0.71 | 0.39 | 64.73 | -45.33 |
| 60 | Knitted or crocheted fabrics | 0.00 | 0.00 | 0.07 | 0.10 | 17.10 | 43.65 | |
| 32 | Tanning or dying extracts;; | 0.04 | 0.07 | 0.06 | 0.04 | 6.62 | -32.40 | |
| 1704 | Suger confectionery (including white chocolate),.. | 0.03 | 0.08 | 0.02 | 0.02 | 3.41 | 15.15 | |
| 38 | Miscellaneous chemical products | 0.01 | 0.02 | 3.35 | 70.27 | |||
| 18 | Cocoa & cocoa preparations | 0.00 | 0.01 | 2.04 | - | |||
| 61 & 62 | Apparel | 0.00 | 0.00 | 0.00 | 0.03 | 0.01 | 1.26 | -72.94 |
| Others | 0.14 | 0.02 | 0.14 | 0.33 | 0.01 | 1.49 | -97.29 | |
| Total Import | 0.31 | 0.74 | 0.59 | 1.22 | 0.60 | 100.00 | -51.11 |
Source: Sri Lanka Customs
2. Scope for further expansion of Sri Lanka’s Exports to Colombia
Considering the growing demand in Colombia and Sri Lanka´s sustainable supply capacities, the following products have potential for further expansion in the Colombia market.
- Cinnamon, crushed nor ground
- New pneumatic tyres of rubber
- Solid/ cushion tyres
- Gloves of vulcanized rubber
- Men's trousers, shorts and shirts of cotton
- Women's trousers and shorts of cotton
- Surgical gloves of vulcanized rubber
- Women's trousers and shorts of synthetic fiber
- Black tea, packing<=3 kg
- Babies garments and accessories of cotton
- Rubber pneumatic tyres for bicycles
- Women's briefs and panties
- Desiccated coconuts
- Bicycles
- Brassieres
Additional Bilateral Trade Statistics - Colombia
| Year | Rank | Value US$ Mn. | % of total export to the world | growth (Multiples) |
|---|---|---|---|---|
| 1977 | 58 | 0.44 | 0.06 | - |
| 2024 | 58 | 19.16 | 0.16 | 43.55 |
Source: Sri Lanka Customs
Note: Sri Lanka’s total exports to the world which stood at US$ 743 Mn. in 1977 has reached US$ 12, 017.03 Mn. in 2024, registering a 16-fold growth.
Additional Bilateral Trade Statistics
Value in US$ Mn.
| Year | Export | Share of total export to the world (%) | Import | Total Trade | Balance of Trade |
|---|---|---|---|---|---|
| 1995 | 2.47 | 0.07 | 0.75 | 3.22 | 1.72 |
| 2000 | 2.68 | 0.05 | 0.66 | 3.34 | 2.02 |
| 2001 | 2.55 | 0.05 | 0.66 | 3.21 | 1.89 |
| 2002 | 2.87 | 0.06 | 0.69 | 3.56 | 2.18 |
| 2003 | 2.87 | 0.06 | 0.77 | 3.63 | 2.10 |
| 2004 | 3.21 | 0.06 | 2.90 | 6.11 | 0.31 |
| 2005 | 3.44 | 0.06 | 4.95 | 8.39 | -1.51 |
| 2006 | 4.48 | 0.07 | 1.43 | 5.91 | 3.05 |
| 2007 | 4.07 | 0.05 | 1.14 | 5.21 | 2.93 |
| 2008 | 5.28 | 0.06 | 0.07 | 5.35 | 5.21 |
| 2009 | 5.92 | 0.08 | 17.72 | 23.64 | -11.80 |
| 2010 | 6.04 | 0.07 | 16.71 | 22.76 | -10.67 |
| 2011 | 11.09 | 0.11 | 0.50 | 11.58 | 10.59 |
| 2012 | 9.00 | 0.10 | 0.84 | 9.85 | 8.16 |
| 2013 | 12.53 | 0.13 | 0.31 | 12.84 | 12.21 |
| 2014 | 13.02 | 0.12 | 6.63 | 19.66 | 6.39 |
| 2015 | 9.69 | 0.09 | 0.27 | 9.95 | 9.42 |
| 2016 | 11.34 | 0.11 | 0.54 | 11.88 | 10.80 |
| 2017 | 15.82 | 0.14 | 0.27 | 16.10 | 15.55 |
| 2018 | 13.44 | 0.11 | 0.78 | 14.22 | 12.67 |
| 2019 | 12.23 | 0.10 | 0.19 | 12.43 | 12.04 |
| 2020 | 16.89 | 0.17 | 0.31 | 17.20 | 16.58 |
| 2021 | 19.37 | 0.16 | 0.74 | 20.11 | 18.63 |
| 2022 | 17.84 | 0.14 | 0.59 | 18.43 | 17.25 |
| 2023 | 11.66 | 0.10 | 1.24 | 12.90 | 10.42 |
| 2024 | 19.16 | 0.16 | 0.60 | 19.76 | 18.57 |
Source: Sri Lanka Customs / Trade Map
Colombia: Investment in Sri Lanka
There was no significant investments from Colombia to Sri Lanka during the period 2005 -2024.
Tourism
- Tourist arrivals from Colombia to Sri Lanka showed an increasing trend during 2012 to 2019.
- In 2020, tourist arrivals from Colombia decreased by 71.81% compared to 2019, due to the adverse effects of COVID-19 and the measures taken to combat it.
- Colombia was the 86th source of tourist arrival to Sri Lanka in 2024, accounting for 0.03 % of the total arrivals.
Tourist arrivals from Colombia
| Year | Tourist Arrivals | Change (%) |
|---|---|---|
| 2012 | - | - |
| 2013 | 268 | 100 |
| 2014 | 340 | 26.87 |
| 2015 | 466 | 37.06 |
| 2016 | 567 | 21.67 |
| 2017 | 710 | 25.22 |
| 2018 | 702 | 1.13 |
| 2019 | 713 | 1.57 |
| 2020 | 201 | -71.81 |
| 2021 | 76 | - 62.19 |
| 2022 | 304 | 300.00 |
| 2023 | 539 | 77.30 |
| 2024 | 666 | 23.56 |
Source: Sri Lanka Tourism Development Authority