Colombia is Latin America’s fourth largest economy and the third most populous country in the region. More than 30 million Colombians have internet access, and 76% of them have made at least one online purchase in their lifetime. The online market reached revenues of USD 3 billion in 2019. Colombia is Latin America’s fifth largest e-commerce market, but accepting international payments for businesses outside Colombia is still a challenge.
• Local currency: Colombian Peso
• Colombian e-commerce is estimated to reach USD 8 billion in 2022
• In 2019, around one third of Colombians made at least one online purchase