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Colombia Economy 2015
https://photius.com/world_fact_book_2015/colombia/colombia_economy.html
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES











Colombia Economy 2015
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 22, 2014

Economy - overview:
Colombia's consistently sound economic policies and aggressive promotion of free trade agreements in recent years have bolstered its ability to weather external shocks. Real GDP has grown more than 4% per year for the past three years, continuing almost a decade of strong economic performance. All three major ratings agencies have upgraded Colombia's government debt to investment grade. Nevertheless, Colombia depends heavily on energy and mining exports, making it vulnerable to a drop in commodity prices. Colombia is the world's fourth largest coal exporter and Latin America??�?�?s fourth largest oil producer. Economic development is stymied by inadequate infrastructure and an uncertain security situation. Moreover, the unemployment rate of 9.7% in 2013 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. Colombia has signed or is negotiating Free Trade Agreements (FTA) with more than a dozen countries; the US-Colombia FTA went into force on May 2012. Colombia is also a founding member of the Pacific Alliance - a regional grouping formed in 2012 by Chile, Colombia, Mexico, and Peru to promote regional trade and economic integration. In 2013, Colombia began its ascension process to the OECD. The annual level of foreign direct investment - notably in the oil and gas sectors - reached a record high of $16.8 billion in 2013, an increase of 7% over 2012. Inequality, poverty, and narcotrafficking remain significant challenges, and Colombia's infrastructure requires major improvements to sustain economic expansion.

GDP (purchasing power parity):
$526.5 billion (2013 est.)
country comparison to the world: 29

$505.2 billion (2012 est.)
$484.9 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$369.2 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.2% (2013 est.)
country comparison to the world: 73

4.2% (2012 est.)
6.6% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$11,100 (2013 est.)
country comparison to the world: 110

$10,800 (2012 est.)
$10,500 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
21.9% of GDP (2013 est.)
country comparison to the world: 70

22.8% of GDP (2012 est.)
20.3% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 61.7%
government consumption: 16.7%
investment in fixed capital: 23.8%
investment in inventories: -0.3%
exports of goods and services: 17.3%
imports of goods and services: -19.3%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 6.6%
industry: 37.8%
services: 55.6% (2013 est.)

Agriculture - products:
coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; shrimp; forest products

Industries:
textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds

Industrial production growth rate:
2.5% (2013 est.)
country comparison to the world: 117
[see also: Industrial production growth rate country ranks ]

Labor force:
23.75 million (2013 est.)
country comparison to the world: 28
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 17%
industry: 21%
services: 62% (2011 est.)

Unemployment rate:
9.7% (2013 est.)
country comparison to the world: 104

10.4% (2012 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
32.7% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 0.9%
highest 10%: 44.4% (2010 est.)

Distribution of family income - Gini index:
55.9 (2010)
country comparison to the world: 10

56.9 (1996)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $107.4 billion
expenditures: $106 billion (2013 est.)

Taxes and other revenues:
29.1% of GDP (2012 est.)
country comparison to the world: 95
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0.4% of GDP (2012 est.)
country comparison to the world: 37
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
39.6% of GDP (2013 est.)
country comparison to the world: 91

40.5% of GDP (2012 est.)
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 ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.2% (2013 est.)
country comparison to the world: 84

3.4% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.75% (31 December 2011)
country comparison to the world: 72

5% (31 December 2010)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
11% (31 December 2013 est.)

$NA (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$42.28 billion (31 December 2013 est.)
country comparison to the world: 51

$41.7 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$163.2 billion (31 December 2013 est.)
country comparison to the world: 43

$153.1 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$192.6 billion (31 December 2013 est.)
country comparison to the world: 41

$180.7 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$262.1 billion (31 December 2012 est.)

$NA (31 December 2011)
$208.5 billion (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$11.02 billion (2013 est.)
country comparison to the world: 179

-$12.17 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$58.7 billion (2013 est.)
country comparison to the world: 56

$59.85 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas, apparel

Exports - partners:
US 36.6%, China 5.5%, Spain 4.8%, Panama 4.7%, Venezuela 4.4%, Netherlands 4.1% (2012)

Imports:
$53.5 billion (2013 est.)
country comparison to the world: 54

$54.64 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity

Imports - partners:
US 24.2%, China 16.3%, Mexico 10.9%, Brazil 4.8% (2012)

Reserves of foreign exchange and gold:
$43.74 billion (31 December 2013 est.)
country comparison to the world: 44

$37 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$85.83 billion (31 December 2013 est.)
country comparison to the world: 51

$80.72 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$128.1 billion (31 December 2013 est.)
country comparison to the world: 36

$111.7 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$33.7 billion (31 December 2013 est.)
country comparison to the world: 41

$31.65 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Colombian pesos (COP) per US dollar -

1,865.8 (2013 est.)
1,798 (2012 est.)
1,898.6 (2010 est.)
2,157.6 (2009)
2,243.6 (2008)


NOTE: 1) The information regarding Colombia on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Colombia Economy 2015 information contained here. All suggestions for corrections of any errors about Colombia Economy 2015 should be addressed to the CIA.
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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