1UpTravel


 

You are here > 1Up Travel > Countries of the World > South America > Colombia



ADVERTISEMENT

Country

 Country Facts

  Introduction

  Geography

  People

  Government

  Economy

  Communications

  Transportation

  Military

  Maps & Cities

  Transnational issues


Related

  Colombia Guide
  Colombia Maps
  Colombia Hotels
  Colombia Flag
  More Colombia Flags
  Colombia Geography
  Colombia Travel Warning



Travel & Tourism . Tourist Guide to the Country

Colombia Economy




Colombia    Economy Top of Page
Economy - overview: Colombia is poised for muted growth in the next several years, marking continued recovery from the severe 1999 recession when GDP fell by about 4%. President PASTRANA's well-respected economic team is working to keep the economy on track, maintaining low interest rates, for example. In accordance with its IMF loan agreement, the administration also is taking steps to improve the public sector's fiscal health. However, many challenges to improved prosperity remain. Unemployment was stuck at a record 20% in 2000, contributing to the extreme inequality in income distribution. Two of Colombia's leading exports, oil and coffee, face an uncertain future; new exploration is needed to offset declining oil production, while coffee harvests and prices are depressed. The lack of public security is a key concern for investors, making progress in the government's peace negotiations with insurgent groups an important driver of economic performance. Colombia is looking for continued support from the international community to boost economic and peace prospects.
GDP: purchasing power parity - $250 billion (2000 est.)
GDP - real growth rate: 3% (2000 est.)
GDP - per capita: purchasing power parity - $6,200 (2000 est.)
GDP - composition by sector: agriculture:  19%

industry:  26%

services:  55% (1999 est.)
Population below poverty line: 55% (1999)
Household income or consumption by percentage share: lowest 10%:  1%

highest 10%:  44% (1999)
Inflation rate (consumer prices): 9% (2000)
Labor force: 18.3 million (1999 est.)
Labor force - by occupation: services 46%, agriculture 30%, industry 24% (1990)
Unemployment rate: 20% (2000 est.)
Budget: revenues:  $22 billion

expenditures:  $24 billion, including capital expenditures of $NA (2000 est.)
Industries: textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds
Industrial production growth rate: 11% (2000 est.)
Electricity - production: 43.574 billion kWh (1999)
Electricity - production by source: fossil fuel:  22.27%

hydro:  76.19%

nuclear:  0%

other:  1.54% (1999)
Electricity - consumption: 40.532 billion kWh (1999)
Electricity - exports: 27 million kWh (1999)
Electricity - imports: 35 million kWh (1999)
Agriculture - products: coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; forest products; shrimp
Exports: $14.5 billion (f.o.b., 2000 est.)
Exports - commodities: petroleum, coffee, coal, apparel, bananas, cut flowers
Exports - partners: US 50%, EU 14%, Andean Community of Nations 16%, Japan 2% (2000 est.)
Imports: $12.4 billion (f.o.b., 2000 est.)
Imports - commodities: industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity
Imports - partners: US 35%, EU 16%, Andean Community of Nations 15%, Japan 5% (2000 est.)
Debt - external: $34 billion (2000 est.)
Economic aid - recipient: $40.7 million (1995)
Currency: Colombian peso (COP)
Currency code: COP
Exchange rates: Colombian pesos per US dollar - 2,241.43 (January 2001), 2087.90 (2000), 1,756.23 (1999), 1,426.04 (1998), 1,140.96 (1997), 1,036.69 (1996)
Fiscal year: calendar year

 

Countryfacts Information Courtesy: CIA Worldbook








Make 1Up Travel your HomepageSend this Page to a FriendGo to Top of PagePrint this PageAdd 1Up Travel to your Favorites


CHANNELS

Compare Country Info Hotel Directory Geography Flags World Maps Travel Warnings National Parks

DESTINATIONS

Asia Africa Caribbean Middle East North America South America Central America Oceania Pacific Europe Polar Regions

PHOTO SPECIAL

Destinations Monuments Ancient Wonders Modern Wonders Natural Wonders

UTILITIES

World Time ISD Codes Travel Links Link Exchange

 



Disclaimer: Although we've tried to make the information on this web site as accurate as possible, we accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities before you travel.

Copyright 1Up Travel All Rights Reserved.
Go Up

Privacy Policy