The economy of Colombia is the fourth largest in Latin America as measured by gross domestic product and the third-largest economic power in South America. Colombia has experienced a historic economic boom over the last decade. Throughout most of the 20th century, Colombia was Latin America's 4th and 3rd largest economy when measured by nominal GDP, real GDP, GDP (PPP), and real GDP at chained PPPs.
Colombia's economy has been a significant contributor to both Latin American and South American economies, ranking as the fourth-largest in Latin America based on GDP and the third-largest in South America. The country has experienced a period of strong economic growth over the past decade. Throughout much of the 20th century, Colombia was consistently among the top four or three largest economies in Latin America when measured by various economic indicators like nominal GDP, real GDP, GDP (PPP), and real GDP at chained PPPs.