In 2023, the national gross income per capita in Colombia increased by 240 U.S. dollars (+3.62 percent) compared to 2022. In total, the national gross income amounted to 6,870 U.S. dollars in 2023. Gross national income (GNI) per capita is the total amount of money received by a country (regardless of whether it originates in the country or abroad) divided by the midyear population. The World Bank uses a conversion system known as the Atlas method, which uses a price adjusted, three year moving average, which smooths out exchange rate fluctuations.Find more statistics on other topics about Colombia with key insights such as value added to gross domestic product by the manufacturing sector, personal remittances received, and value added by the services industry to the gross domestic product.

Through the time frame displayed, there has been an overall increase in the average income for the Colombian population in the capital Bogota. Starting the report with the lowest amount all the way to the topmost one in 2023 with around 1.93 million Colombian pesos.

Colombia CO: Survey Mean Consumption or Income per Capita: Bottom 40% of Population: Annualized Average Growth Rate data was reported at -2.590 % in 2021. Colombia CO: Survey Mean Consumption or Income per Capita: Bottom 40% of Population: Annualized Average Growth Rate data is updated yearly, averaging -2.590 % from Dec 2021 (Median) to 2021, with 1 observations. The data reached an all-time high of -2.590 % in 2021 and a record low of -2.590 % in 2021. Colombia CO: Survey Mean Consumption or Income per Capita: Bottom 40% of Population: Annualized Average Growth Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Colombia – Table CO.World Bank.WDI: Social: Poverty and Inequality. The growth rate in the welfare aggregate of the bottom 40% is computed as the annualized average growth rate in per capita real consumption or income of the bottom 40% of the population in the income distribution in a country from household surveys over a roughly 5-year period. Mean per capita real consumption or income is measured at 2017 Purchasing Power Parity (PPP) using the Poverty and Inequality Platform (http://www.pip.worldbank.org). For some countries means are not reported due to grouped and/or confidential data. The annualized growth rate is computed as (Mean in final year/Mean in initial year)^(1/(Final year - Initial year)) - 1. The reference year is the year in which the underlying household survey data was collected. In cases for which the data collection period bridged two calendar years, the first year in which data were collected is reported. The initial year refers to the nearest survey collected 5 years before the most recent survey available, only surveys collected between 3 and 7 years before the most recent survey are considered. The coverage and quality of the 2017 PPP price data for Iraq and most other North African and Middle Eastern countries were hindered by the exceptional period of instability they faced at the time of the 2017 exercise of the International Comparison Program. See the Poverty and Inequality Platform for detailed explanations.;World Bank, Global Database of Shared Prosperity (GDSP) (http://www.worldbank.org/en/topic/poverty/brief/global-database-of-shared-prosperity).;;The comparability of welfare aggregates (consumption or income) for the chosen years T0 and T1 is assessed for every country. If comparability across the two surveys is a major concern for a country, the selection criteria are re-applied to select the next best survey year(s). Annualized growth rates are calculated between the survey years, using a compound growth formula. The survey years defining the period for which growth rates are calculated and the type of welfare aggregate used to calculate the growth rates are noted in the footnotes.

The Gross Domestic Product per capita in Colombia was last recorded at 6819.18 US dollars in 2023. The GDP per Capita in Colombia is equivalent to 54 percent of the world's average. This dataset provides - Colombia GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The minimum wage per month guaranteed by law in Colombia was forecasted to increase by approximately 12 percent between 2023 and 2024, reaching 1.3 million Colombian pesos. In that same line, the inflation rate in the country reached 1.73 percent during 2023.

In 2023, the median household income in the District of Columbia amounted to 111,000 U.S. dollars. This is an increase from the previous year, when the median household income amounted to 101,700 U.S. dollars. The median income in the United States can be accessed here.

This statistic shows the average monthly salary in the palm industry in Colombia in 2016, broken down by contract type. In that year, the average wages of permanent workers in the oil palm sector amounted to more than 1.16 million Colombian pesos per month.

GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

Colombia Earnings: Average: National: PS: Independent data was reported at 1,169,569.000 COP in 2021. This records an increase from the previous number of 1,012,228.000 COP for 2020. Colombia Earnings: Average: National: PS: Independent data is updated yearly, averaging 1,127,505.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 1,169,569.000 COP in 2021 and a record low of 1,012,228.000 COP in 2020. Colombia Earnings: Average: National: PS: Independent data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

Colombia Earnings: Average: 23 Cities: PA: Employees data was reported at 2,323,265.000 COP in 2021. This records an increase from the previous number of 2,212,727.000 COP for 2020. Colombia Earnings: Average: 23 Cities: PA: Employees data is updated yearly, averaging 2,212,727.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 2,323,265.000 COP in 2021 and a record low of 2,092,331.000 COP in 2019. Colombia Earnings: Average: 23 Cities: PA: Employees data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Costa Rica is the country with the highest minimum monthly wage in Latin America. According to the minimum salary established by law as of January 2024, workers in the Central American country enjoy a basic monthly wage of over 687 U.S. dollars, an increase of 1.83 percent compared to the previous year and over 100 U.S. dollars more than the second place, Uruguay. On the other side of the spectrum is Venezuela, where employees are only guaranteed by law a minimum salary of 130 bolívares or little more than three dollars per month. Can Latin Americans survive on a minimum wage? Even if most countries in Latin America have instated laws to guarantee citizens a basic income, these minimum standards are often not enough to meet household needs. For instance, it was estimated that almost 25 million people in Mexico lacked basic housing services. Salary levels also vary greatly among Latin American economies. In 2020, the average net monthly salary in Mexico was barely higher than Chile's minimum wage in 2021. What can a minimum wage afford in Latin America? Latin American real wages have generally risen in the past decade. However, consumers in this region still struggle to afford non-basic goods, such as tech products. Recent estimates reveal that, in order to buy an iPhone, Brazilian residents would have to work at least two months to be able to pay for it. A gaming console, on the other hand, could easily cost a Latin American worker several minimum wages.

About this dataset

Context

The dataset presents the distribution of median household income among distinct age brackets of householders in Columbia. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varies among householders of different ages in Columbia. It showcases how household incomes typically rise as the head of the household gets older. The dataset can be utilized to gain insights into age-based household income trends and explore the variations in incomes across households.

Key observations: Insights from 2021

In terms of income distribution across age cohorts, in Columbia, the median household income stands at $32,956 for householders within the 45 to 64 years age group, followed by $28,387 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $18,279.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Age groups classifications include:

• Under 25 years
• 25 to 44 years
• 45 to 64 years
• 65 years and over

Variables / Data Columns

• Age Of The Head Of Household: This column presents the age of the head of household
• Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific age group

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Columbia median household income by age. You can refer the same here

Annualized average growth rate in per capita real survey mean consumption or income, total population (%) in Colombia was reported at 0.73 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Colombia - Annualized average growth rate in per capita real survey mean consumption or income, total population - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Colombia Earnings: Average: 13 Cities: Employees data was reported at 1,528,767.000 COP in 2021. This records an increase from the previous number of 1,487,567.000 COP for 2020. Colombia Earnings: Average: 13 Cities: Employees data is updated yearly, averaging 1,487,567.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 1,528,767.000 COP in 2021 and a record low of 1,448,168.000 COP in 2019. Colombia Earnings: Average: 13 Cities: Employees data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

The gross national income per capita in the 'Economic Measures' segment of the macroeconomic indicators market in Colombia was forecast to continuously increase between 2024 and 2029 by in total 1.8 thousand U.S. dollars (+25.25 percent). After the seventh consecutive increasing year, the indicator is estimated to reach 8.9 thousand U.S. dollars and therefore a new peak in 2029. Notably, the gross national income per capita of the 'Economic Measures' segment of the macroeconomic indicators market was continuously increasing over the past years.Find more key insights for the gross national income per capita in countries like El Salvador, Panama, and Honduras.. The Statista Market Insights cover a broad range of additional markets.

Colombia Earnings: Average: 23 Cities: PS: Independent data was reported at 1,391,993.000 COP in 2021. This records an increase from the previous number of 1,221,413.000 COP for 2020. Colombia Earnings: Average: 23 Cities: PS: Independent data is updated yearly, averaging 1,359,519.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 1,391,993.000 COP in 2021 and a record low of 1,221,413.000 COP in 2020. Colombia Earnings: Average: 23 Cities: PS: Independent data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Market modeling estimates that BNPL transactions in Colombia would be about 39 percent higher in 2024 than in 2023. This is according to a market model released in the first quarter of 2024, which placed Colombia firmly behind Brazil and Mexico when it comes to buy now, pay later in Latin America. This despite the presence of Colombian BNPL provider Addi - listed by many as one of Latin America's most important fintech companies. Note that the source does not give further indications of what the figures provided here are based on. As buy now, pay later was unregulated in many countries across the world by early 2023, transaction figures on this payment method were scarce unless a domestic financial supervisor managed to request data from individual BNPL providers.

Colombia Earnings: Average: 23 Cities: Others data was reported at 1,534,130.000 COP in 2021. This records an increase from the previous number of 1,489,578.000 COP for 2020. Colombia Earnings: Average: 23 Cities: Others data is updated yearly, averaging 1,534,130.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 1,916,669.000 COP in 2019 and a record low of 1,489,578.000 COP in 2020. Colombia Earnings: Average: 23 Cities: Others data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Guyana was the South American country 20360the highest gross national income per capita, with 20,360 U.S. dollars per person in 2023. Uruguay ranked second, registering a GNI of 19,530 U.S. dollars per person, based on current prices. Gross national income (GNI) is the aggregated sum of the value added by residents in an economy, plus net taxes (minus subsidies) and net receipts of primary income from abroad. Which are the largest Latin American economies? Based on annual gross domestic product, which is the total amount of goods and services produced in a country per year, Brazil leads the regional ranking, followed by Mexico, Argentina, and Chile. Many Caribbean countries and territories hold the highest GDP per capita in this region, measurement that reflects how GDP would be divided if it was perfectly equally distributed among the population. GNI per capita is, however, a more exact calculation of wealth than GDP per capita, as it takes into consideration taxes paid and income receipts from abroad. How much inequality is there in Latin America? In many Latin American countries, more than half the total wealth created in their economies is held by the richest 20 percent of the population. When a small share of the population concentrates most of the wealth, millions of people don't have enough to make ends meet. For instance, in Brazil, about 5.32 percent of the population lives on less than 3.2 U.S. dollars per day.