Economy - overview:
Colombia experienced accelerating growth between 2002 and 2007, chiefly due to improvements in domestic security, rising commodity prices, and to President URIBE's promarket economic policies. Foreign direct investment reached a record $10 billion in 2008, and continues to flow in, especially in the oil sector. A series of policies enhanced Colombia's investment climate: pro-business reforms in the oil and gas sectors and export-led growth fueled mainly by the Andean Trade Promotion and Drug Eradication Act. Inequality, underemployment, and narcotrafficking remain significant challenges, and Colombia's infrastructure requires major improvements to sustain economic expansion. Because of the global financial crisis and weakening demand for Colombia's exports, Colombia's economy grew only 2.7% in 2008, and 0.8% in 2009 but rebounded to around 4.5% in 2010. The government has encouraged exporters to diversify their customer base beyond the United States and Venezuela, traditionally Colombia's largest trading partners; the SANTOS administration continues to pursue free trade agreements with Asian and South American partners and awaits the approval of a Canadian trade accord by Canada's and EU's parliaments. The business sector remains concerned about Venezuela's trade restrictions on Colombian exports, an appreciating domestic currency, and the pending US Congressional approval of the US-Colombia Trade Promotion Agreement.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Colombia on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Colombia Economy 2011 information contained here. All suggestions for corrections of any errors about Colombia Economy 2011 should be addressed to the CIA.
$431.9 billion (2010 est.)
country comparison to the world: 29
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$283.1 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
4.4% (2010 est.)
country comparison to the world: 68
[see also: GDP - real growth rate country ranks ]
$9,800 (2010 est.)
country comparison to the world: 113
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 9.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
38%
[see also: GDP - composition by sector - industry country ranks ]
services:
52.7% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
21.27 million (2009 est.)
country comparison to the world: 30
[see also: Labor force country ranks ]
agriculture: 18%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
18.9%
[see also: Labor force - by occupation - industry country ranks ]
services:
63.1% (2009 est.)
[see also: Labor force - by occupation - services country ranks ]
11.2% (2010 est.)
country comparison to the world: 123
[see also: Unemployment rate country ranks ]
46.8% (2008)
[see also: Population below poverty line country ranks ]
lowest 10%: 0.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
45% (2008)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
58.5 (2009)
country comparison to the world: 8
[see also: Distribution of family income - Gini index country ranks ]
22.8% of GDP (2009 est.)
country comparison to the world: 58
[see also: Investment (gross fixed) country ranks ]
revenues: $74.2 billion
[see also: Budget - revenues country ranks ]
expenditures:
$83.9 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
44.8% of GDP (2010 est.)
country comparison to the world: 60
[see also: Public debt country ranks ]
2.6% (2010 est.)
country comparison to the world: 77
[see also: Inflation rate (consumer prices) country ranks ]
3% (October 2010)
country comparison to the world: 79
[see also: Central bank discount rate country ranks ]
12.98% (31 December 2009 est.)
country comparison to the world: 31
[see also: Commercial bank prime lending rate country ranks ]
$31.83 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$104.9 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$123 billion (31 December 2010 est.)
country comparison to the world: 45
[see also: Stock of domestic credit country ranks ]
$133.3 billion (31 December 2009)
country comparison to the world: 40
[see also: Market value of publicly traded shares country ranks ]
coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; forest products; shrimp
textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds
5.5% (2009 est.)
country comparison to the world: 61
[see also: Industrial production growth rate country ranks ]
50.58 billion kWh (2007 est.)
country comparison to the world: 48
[see also: Electricity - production country ranks ]
38.59 billion kWh (2007 est.)
country comparison to the world: 53
[see also: Electricity - consumption country ranks ]
876.7 million kWh (2007 est.)
[see also: Electricity - exports country ranks ]
39.4 million kWh (2007 est.)
[see also: Electricity - imports country ranks ]
686,600 bbl/day (2009 est.)
country comparison to the world: 28
[see also: Oil - production country ranks ]
288,000 bbl/day (2009 est.)
country comparison to the world: 43
[see also: Oil - consumption country ranks ]
294,000 bbl/day (2008 est.)
country comparison to the world: 42
[see also: Oil - exports country ranks ]
16,540 bbl/day (2007 est.)
country comparison to the world: 121
[see also: Oil - imports country ranks ]
2.1 billion bbl (1 January 2010 est.)
country comparison to the world: 35
[see also: Oil - proved reserves country ranks ]
9 billion cu m (2008 est.)
country comparison to the world: 42
[see also: Natural gas - production country ranks ]
8.1 billion cu m (2008 est.)
country comparison to the world: 52
[see also: Natural gas - consumption country ranks ]
900 million cu m (2008 est.)
country comparison to the world: 36
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 191
[see also: Natural gas - imports country ranks ]
112 billion cu m (1 January 2010 est.)
country comparison to the world: 51
[see also: Natural gas - proved reserves country ranks ]
-$5.946 billion (2010 est.)
country comparison to the world: 170
[see also: Current account balance country ranks ]
$40.24 billion (2010 est.)
country comparison to the world: 59
[see also: Exports country ranks ]
petroleum, coffee, coal, nickel, emeralds, apparel, bananas, cut flowers
US 39%, Venezuela 12%, Netherlands 4% (2009)
$36.26 billion (2010 est.)
country comparison to the world: 53
[see also: Imports country ranks ]
industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity
US 28%, China 11%, Mexico 7%, Brazil 6.5%, France 4.5%, Germany 4% (2009)
$26.92 billion (31 December 2010 est.)
country comparison to the world: 36
[see also: Reserves of foreign exchange and gold country ranks ]
$57.74 billion (31 December 2010 est.)
country comparison to the world: 51
[see also: Debt - external country ranks ]
$84.62 billion (31 December 2010 est.)
country comparison to the world: 37
[see also: Stock of direct foreign investment - at home country ranks ]
$19.2 billion (31 December 2010 est.)
country comparison to the world: 43
[see also: Stock of direct foreign investment - abroad country ranks ]
Colombian pesos (COP) per US dollar - 1,893.1 (2010), 2,157.6 (2009), 2,243.6 (2008), 2,013.8 (2007), 2,358.6 (2006)
This page was last modified 09-Feb-11