Table of Contents

  • This Survey was prepared for the Committee by Alberto González Pandiella and Paula Garda under the supervision of Piritta Sorsa. Statistical research assistance was provided by Marnix Dek and editorial assistance by Carolina González. The Survey also benefited from contributions from Andrew Chapman, Julien Gourdon, and Daniela Rodríguez in Chapter 1 and Veerle Miranda as a co-author in Chapter 2.The Survey was discussed at a meeting of the Economic and Development Review Committee (EDRC) on 29 November 2018 and is published on the responsibility of the Secretary-General of the OECD.

  • Growth has been resilient and poverty and informality have fallen.Thanks to sound and credible macroeconomic policies, adjustment to the large oil price shock of 2015-16 has been smooth. Education and social policies have improved social outcomes. Yet, challenges remain to maintain performance and further improve living standards. Productivity growth has followed a declining trend and the still high level of informality is a major economic and social challenge. Regional inequalities remain large. Exposure to global financial conditions has increased.

  • Colombia has made good economic and social progress over the last two decades. Sound macroeconomic policies boosted confidence, which together with favourable demographics and external conditions underpinned resilient economic growth (, Panel A). This has contributed to higher living standards (Panel B and C), and, together with improving access to education and social transfers, brought significant social improvements. Poverty has fallen markedly in recent years, while progress in reducing inequality has been more muted (, Panel A and B). On 25 May 2018, Colombia was invited to become a member of the OECD.