Economy - overview:
Colombia's consistently sound economic policies and aggressive promotion of free trade agreements in recent years have bolstered its ability to face external shocks. Real GDP is projected to grow by between 5-6% and inflation to end 2011 at less than 4% continuing almost a decade of strong economic performance. All three major ratings agencies have upgraded Colombia's investment grade. Nevertheless, Colombia depends heavily on oil exports, making it vulnerable to a drop in oil prices. Economic development is stymied by inadequate infrastructure, weakened further by recent flooding. Moreover, the 9.2% official unemployment rate is still one of Latin America's highest. The SANTOS Administration's foreign policy has focused on bolstering Colombia's commercial ties and boosting investment at home. The U.S.-Colombia Free Trade Agreement (FTA) was ratified by the US Congfess in October 2011 and is expected to be implemented in mid-2012. Columbia has signed or is negotiating FTAs with a number of other countries, including Canada, Mexico, Switzerland, the EU, Venezuela, South Korea, Turkey, Japan, and Israel. Foreign direct investment - notably in the oil sector - reached a record $10 billion in 2008, but dropped to $7.2 billion in 2009, before beginning to recover in 2010, and it appears to have reached a record high $13 billion in 2011. Colombia is the third largest Latin American exporter of oil to the US. Inequality, underemployment, and narcotrafficking remain significant challenges, and Colombia's infrastructure requires major improvements to sustain economic expansion. In late 2010, Colombia experienced its most severe flooding in decades, with damages estimated to exceed $6 billion. The rains resumed in 2011, causing further damages to crops and infrastructure, as well as killing hundreds of Colombians and displacing millions.
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: Taxes and other revenues: Budget surplus (+) or deficit (-): 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: 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: 1) The information regarding Colombia on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Colombia Economy 2012 information contained here. All suggestions for corrections of any errors about Colombia Economy 2012 should be addressed to the CIA.
$467 billion (2011 est.)
country comparison to the world: 29
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$321.5 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
4.9% (2011 est.)
country comparison to the world: 80
[see also: GDP - real growth rate country ranks ]
$10,100 (2011 est.)
country comparison to the world: 108
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 8.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 38%
[see also: GDP - composition by sector - industry country ranks ]
services: 53.1% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
22.5 million (2011 est.)
country comparison to the world: 29
[see also: Labor force country ranks ]
agriculture: 18%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 13%
[see also: Labor force - by occupation - industry country ranks ]
services: 68% (2010 est.)
[see also: Labor force - by occupation - services country ranks ]
11.2% (2011 est.)
country comparison to the world: 122
[see also: Unemployment rate country ranks ]
45.5% (2009)
[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: 9
[see also: Distribution of family income - Gini index country ranks ]
22.9% of GDP (2011 est.)
country comparison to the world: 80
[see also: Investment (gross fixed) country ranks ]
revenues: $84.93 billion
[see also: Budget revenues country ranks ]
expenditures: $96.73 billion (2011 est.)
[see also: Budget expenditures country ranks ]
26.4% of GDP (2011 est.)
country comparison to the world: 116
[see also: Taxes and other revenues country ranks ]
-3.7% of GDP (2011 est.)
country comparison to the world: 116
[see also: Budget surplus (+) or deficit (-) country ranks ]
45.6% of GDP (2011 est.)
country comparison to the world: 60
note: data cover general Government Debt, and includes debt instruments issued (or owned) by Government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities
[see also: Public debt country ranks ]
3.4% (2011 est.)
country comparison to the world: 67
[see also: Inflation rate (consumer prices) country ranks ]
4.75% (31 December 2011 est.)
country comparison to the world: 75
[see also: Central bank discount rate country ranks ]
10.8% (31 December 2011 est.)
country comparison to the world: 109
[see also: Commercial bank prime lending rate country ranks ]
$40.52 billion (31 December 2011 est.)
country comparison to the world: 52
[see also: Stock of narrow money country ranks ]
$123.8 billion (31 December 2011 est.)
country comparison to the world: 49
[see also: Stock of broad money country ranks ]
$168.4 billion (31 December 2011 est.)
country comparison to the world: 42
[see also: Stock of domestic credit country ranks ]
$208.5 billion (31 December 2010)
country comparison to the world: 35
[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
4% (2011 est.)
country comparison to the world: 87
[see also: Industrial production growth rate country ranks ]
51.01 billion kWh (2008 est.)
country comparison to the world: 48
[see also: Electricity - production country ranks ]
38.82 billion kWh (2008 est.)
country comparison to the world: 54
[see also: Electricity - consumption country ranks ]
1.473 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]
1.396 billion kWh (2008 est.)
[see also: Electricity - imports country ranks ]
800,100 bbl/day (2010 est.)
country comparison to the world: 26
[see also: Oil - production country ranks ]
296,000 bbl/day (2010 est.)
country comparison to the world: 43
[see also: Oil - consumption country ranks ]
400,700 bbl/day (2009 est.)
country comparison to the world: 33
[see also: Oil - exports country ranks ]
6,045 bbl/day (2009 est.)
country comparison to the world: 151
[see also: Oil - imports country ranks ]
10.49 billion cu m (2009 est.)
country comparison to the world: 42
[see also: Natural gas - production country ranks ]
8.69 billion cu m (2009 est.)
country comparison to the world: 50
[see also: Natural gas - consumption country ranks ]
1.8 billion cu m (2009 est.)
country comparison to the world: 36
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 175
[see also: Natural gas - imports country ranks ]
113.3 billion cu m (1 January 2011 est.)
country comparison to the world: 52
[see also: Natural gas - proved reserves country ranks ]
-$7.328 billion (2011 est.)
country comparison to the world: 178
[see also: Current account balance country ranks ]
$55.03 billion (2011 est.)
country comparison to the world: 57
[see also: Exports country ranks ]
petroleum, coffee, coal, nickel, emeralds, apparel, bananas, cut flowers
US 42%, EU 12.6%, China 5.2%, Ecuador 4.5% (2010 est.)
$49.78 billion (2011 est.)
country comparison to the world: 55
[see also: Imports country ranks ]
industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity
US 25.5%, China 13.4%, Mexico 9.4%, Brazil 5.9%, Germany 4.1% (2010 est.)
$35.79 billion (31 December 2011 est.)
country comparison to the world: 47
[see also: Reserves of foreign exchange and gold country ranks ]
$69.89 billion (31 December 2011 est.)
country comparison to the world: 51
[see also: Debt - external country ranks ]
$92.42 billion (31 December 2011 est.)
country comparison to the world: 39
[see also: Stock of direct foreign investment - at home country ranks ]
$25.37 billion (31 December 2011 est.)
country comparison to the world: 40
[see also: Stock of direct foreign investment - abroad country ranks ]
Colombian pesos (COP) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12