Key Market Indicators
Colombia's energy consumption is projected to climb to approximately 2.3 exajoules by 2028, marking an increase from about 2.2 exajoules in 2023. This represents an annual growth rate of 0.9%. Historically, Colombian energy demand has seen a steady rise, with an average annual increase of 1.7% since 1970. In the global context for 2023, Colombia ranked 38th in energy consumption. Neighboring Venezuela edged just ahead of Colombia with an energy consumption of 2.2 exajoules. On the global stage, the United States, India, and Russia held the second, third, and fourth positions respectively in energy consumption rankings.
