| People | Colombia |
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Economy - overview:
|
Colombia's economy has experienced positive growth over the past five years despite a serious armed conflict. In fact, 2007 is regarded by policy makers and the private sector as one of the best economic years in recent history, after 2005. The economy continues to improve in part because of austere government budgets, focused efforts to reduce public debt levels, an export-oriented growth strategy, improved domestic security, and high commodity prices. Ongoing economic problems facing President URIBE include reforming the pension system, reducing high unemployment, and funding new exploration to offset declining oil production. The government's economic reforms and democratic security strategy, coupled with increased investment, have engendered a growing sense of confidence in the economy. However, the business sector continues to be concerned about failure of the US Congress to approve the signed FTA. |
GDP (purchasing power parity):
|
$320.4 billion (2007 est.) |
GDP (official exchange rate):
|
$171.7 billion (2007 est.) |
GDP - real growth rate:
|
6.5% (2007 est.) |
GDP - per capita (PPP):
|
$7,200 (2007 est.) |
GDP - composition by sector:
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agriculture: 11.5%
industry: 36%
services: 52.4% (2007 est.) |
Investment (gross fixed):
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27.3% of GDP (2007 est.) |
Population below poverty line:
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49.2% (2005) |
Household income or consumption by percentage share:
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lowest 10%: 7.9%
highest 10%: 34.3% (2004) |
Distribution of family income - Gini index:
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53.8 (2005) |
Inflation rate (consumer prices):
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5.5% (2007 est.) |
Labor force:
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20.65 million (2007 est.) |
Labor force participation rate:
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45.87 % of population |
Labor force - by occupation:
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agriculture: 22.7%
industry: 18.7%
services: 58.5% (2000 est.) |
Unemployment rate:
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10.6% (2007 est.) |
Budget:
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revenues: $64.02 billion
expenditures: $64.35 billion; including capital expenditures of $NA (2007 est.) |
Budget revenues per capita:
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1,423 USD per capita |
Public debt:
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53.9% of GDP (2007 est.) |
Industries:
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textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds |
Industrial production growth rate:
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6% (2007 est.) |
Electricity - production:
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50.47 billion kWh (2005) |
Electricity - production per capita:
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1,122 kWh per capita |
Electricity - consumption:
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38.91 billion kWh (2005) |
Electricity - consumption - per capita:
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865 kWh per capita |
Electricity - exports:
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1.758 billion kWh (2005) |
Electricity - imports:
|
16 million kWh (2005) |
Oil - production:
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539,000 bbl/day (2005 est.) |
Oil - production per capita:
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11,975 bbl/day per capita |
Oil - consumption:
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264,000 bbl/day (2005 est.) |
Oil - consumption - per capita:
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2.14 bbl/year per capita |
Oil - exports:
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289,700 bbl/day (2004) |
Oil - imports:
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6,453 bbl/day (2004) |
Oil - proved reserves:
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1.542 billion bbl (1 January 2006 est.) |
Natural gas - production:
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6.397 billion cu m (2005 est.) |
Natural gas - production per capita:
|
143 cu m per capita |
Natural gas - consumption:
|
6.397 billion cu m (2005 est.) |
Natural gas - consumption - per capita:
|
143 cu m per capita |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
109.7 billion cu m (1 January 2006 est.) |
Agriculture - products:
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coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; forest products; shrimp |
Current account balance:
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-$5.132 billion (2007 est.) |
Current account balance - per capita:
|
-114 USD per capita |
Exports:
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$28.39 billion f.o.b. (2007 est.) |
Exports per capita:
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631 USD per capita |
Exports - commodities:
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petroleum, coffee, coal, nickel, emeralds, apparel, bananas, cut flowers |
Exports - partners:
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US 35.8%, Venezuela 11.4%, Ecuador 5.4% (2006) |
Imports:
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$30.83 billion f.o.b. (2007 est.) |
Imports per capita:
|
685 USD per capita |
Imports - commodities:
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industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity |
Imports - partners:
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US 26.8%, Brazil 8.6%, Mexico 8.5%, China 6%, Venezuela 5.6%, Japan 4.1% (2006) |
Reserves of foreign exchange and gold:
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$23.14 billion (31 December 2007 est.) |
Reserves of foreign exchange and gold - per capita:
|
515 USD per capita |
Debt - external:
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$43.3 billion (30 June 2007) |
Debt - external - per capita:
|
962 USD per capita |
Stock of direct foreign investment - at home:
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$45.01 billion (2006 est.) |
Stock of direct foreign investment - abroad:
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$10.01 billion (2006 est.) |
Market value of publicly traded shares:
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$56.2 billion (2006) |
Economic aid - donor:
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void |
Economic aid - recipient:
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$511.1 million (2005) |
Economic aid - recipient per capita:
|
12 USD per capita |
Currency (code):
|
Colombian peso (COP) |
Exchange rates:
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Colombian pesos per US dollar - 2,013.8 (2007), 2,358.6 (2006), 2,320.75 (2005), 2,628.61 (2004), 2,877.65 (2003) |
Fiscal year:
|
calendar year |
|
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