The National Administrative Department of Statistics (DANE) has presented its report on Monetary Poverty in Colombia during 2023, revealing significant progress in reducing poverty in the country. Below, we break down the main results and figures showing how more than 1.6 million people have managed to escape monetary poverty in the past year.
General Reduction of Poverty
The DANE report indicates that monetary poverty in Colombia decreased by more than 3 percentage points, from 36.6% in 2022 to 33% in 2023. This achievement translates into a reduction of 1.6 million people who have ceased living in monetary poverty, which is a positive indicator for the country’s economic and social development. Currently, 16.7 million people are in a situation of monetary poverty, a figure that, although still high, shows a significant improvement compared to the previous year.
Advances in the Colombian Countryside
The reduction of poverty in rural areas has been even more notable, reaching almost 5%. Monetary poverty in populated centers and dispersed rural areas stood at 41.2% in 2023, a significant decrease from the 45.9% recorded in 2022. This progress is largely due to the reactivation of the agricultural sector, which has seen a 12.5% increase in its exports.
In February 2024, Colombia’s agricultural exports reached USD 962 million, a significant increase of 12.5% compared to the same month of the previous year. This growth is mainly due to increases in banana (79.2%), flower (13.2%), and avocado (81.5%) exports. These figures represent the highest volume of exports for a February since comparable records have been kept, highlighting the resilience and competitiveness of Colombian agricultural products in the international market.
The total export volume between January and February 2024 amounted to 941,109 tons, an increase of 39.9% compared to the same period of the previous year. The products that most contributed to this growth were bananas, avocados, and coffee.
Reduction of Extreme Poverty
DANE also reports a decrease in extreme poverty, which fell from 13.8% in 2022 to 11.4% in 2023. This means that more than 1.1 million people have surpassed the extreme poverty line in the past year. In rural areas, extreme poverty also showed a notable reduction, decreasing from 23.3% in 2022 to 19.8% in 2023.
Extreme poverty is defined as a situation where a household does not have enough income to cover the basic food basket. In 2023, the per capita extreme poverty line was set at $218,846, while for a household of four people, it was $875,384.
The results of the DANE report on monetary poverty in Colombia during 2023 are encouraging and reflect significant progress toward a less unequal society. The reduction of general poverty, the notable improvement in rural areas, and the decrease in extreme poverty indicate that the policies implemented are having a positive impact on the lives of millions of Colombians.
The increase in agricultural exports, with a growth of 12.5% and reaching USD 962 million in February 2024, is clear evidence of the efficiency of policies to enhance the competitiveness of Colombian products in the international market. The diversification of products and the focus on quality have been key to these positive results. Despite global challenges, Colombia is making progress in its intention to position itself as a major player in the international trade of agricultural products.
These advances represent positive news for the country and an important step toward reducing inequality, improving the population’s well-being, and strengthening the national economy.
