Colombian economy?
Written by admin on September 26th, 2009
can anybody plz gimme some information(statistical data prefered) abt colobiam economy and how it is compared to the rest of latin america? any references to articles, websites and news letters would be helpful. i want to do an analysis of the economic growth, the precise sectors and its implications on the masses.
September 29th, 2009 at 8:28 pm
GDP (2003 projected): $74.6 billion.
Annual growth rate (2003 projected): 2.2%.
Per capita GDP (2003 projected): $1,709.
Government (2003 projected): 30.2% of GDP.
Natural resources: Coal, petroleum, natural gas, iron ore, nickel, gold, silver, copper, platinum, emeralds.
Manufacturing (13.9 of GDP): Types–textiles and garments, chemicals, metal products, cement, cardboard containers, plastic resins and manufactures, beverages, wood products, pharmaceuticals, machinery, electrical equipment.
Agriculture (12.7% of GDP): Products–coffee, bananas, cut flowers, cotton, sugarcane, livestock, rice, corn, tobacco, potatoes, soybeans, sorghum. Cultivated land: 8.2% of total area.
Other sectors (by percentage of GDP): Financial services–17.1%; commerce–10.6%; transportation and communications services–8.2%; mining and quarrying–4.1%; construction and public works–4.6%; electricity, gas, and water–3.1%.
Trade: Exports (2003 projected)–$11.8 billion: petroleum, coal, coffee, flowers, textiles and garments, ferronickel, bananas, chemicals, pharmaceuticals, gold, sugar, cardboard containers, printed material, cement, plastic resins and manufactures, emeralds. Major markets–U.S., Germany, Netherlands, Japan, Venezuela. Imports (2003 projected)–$12.6 billion: machinery/equipment, grains, chemicals, transportation equipment, mineral products, consumer products, metals/metal products, plastic/rubber, paper products, aircraft, oil and gas industry equipment, and supplies. Major suppliers–U.S., Germany, Japan, Panama, Venezuela.
Economy – overview: Colombia’s economy suffers from weak domestic and foreign demand, austere government budgets, and serious internal armed conflict, but seems poised for recovery. Other economic problems facing President URIBE range from reforming the pension system to reducing high unemployment. 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. On the positive side, several international financial institutions have praised the economic reforms introduced by URIBE, which includes measures designed to reduce the public-sector deficit below 2.5% of GDP in 2004. The government’s economic policy and democratic security strategy have engendered a growing sense of confidence in the economy, particularly within the business sector, and GDP growth in 2003 was among the highest in Latin America.
GDP: purchasing power parity – $263.2 billion (2004 est.)
GDP – real growth rate: 3.7% (2004 est.)
GDP – per capita: purchasing power parity – $6,300 (2004 est.)
GDP – composition by sector: agriculture: 13.7%
industry: 32.1%
services: 54.2% (2004 est.)
Investment (gross fixed): 15.9% of GDP (2004 est.)
Population below poverty line: 55% (2001)
Household income or consumption by percentage share: lowest 10%: 1%
highest 10%: 44% (1999)
Distribution of family income – Gini index: 57.1 (1996)
Inflation rate (consumer prices): 7.1% (2004 est.)
Labor force: 20.34 million (2004 est.)
Labor force – by occupation: agriculture 30%, industry 24%, services 46% (1990)
Unemployment rate: 14.2% (2004 est.)
Budget: revenues: $24 billion
expenditures: $25.6 billion, including capital expenditures of $NA (2004 est.)
Public debt: 51.9% of GDP (2004 est.)
Agriculture – products: coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; forest products; shrimp
Industries: textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds
Industrial production growth rate: 3.5% (2004 est.)
Electricity – production: 42.99 billion kWh (2001)
Electricity – consumption: 39.81 billion kWh (2001)
Electricity – exports: 210 million kWh (2001)
Electricity – imports: 40 million kWh (2001)
Oil – production: 614,400 bbl/day (2004 est.)
Oil – consumption: 252,000 bbl/day (2001 est.)
Oil – exports: NA (2001)
Oil – imports: NA (2001)
Oil – proved reserves: 1.8 billion bbl (2004)
Natural gas – production: 5.7 billion cu m (2001 est.)
Natural gas – consumption: 5.7 billion cu m (2001 est.)
Natural gas – exports: 0 cu m (2001 est.)
Natural gas – imports: 0 cu m (2001 est.)
Natural gas – proved reserves: 132 billion cu m (2004)
Current account balance: $-1.417 billion (2004 est.)
Exports: $12.96 billion f.o.b. (2004 est.)
Exports – commodities: petroleum, coffee, coal, apparel, bananas, cut flowers
Exports – partners: US 47.1%, Ecuador 6%, Venezuela 5.3% (2003)
Imports: $13.06 billion f.o.b. (2003 est.)
Imports – commodities: industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity
Imports – partners: US 29.6%, Brazil 5.5%, Mexico 5.4%, Venezuela 5.2%, China 5%, Japan 4.6%, Germany 4.4% (2003)
Reserves of foreign exchange & gold: $10.92 billion (2004 est.)
Debt – external: $38.26 billion (2004 est.)
Economic aid – recipient: NA
Currency: Colombian peso (COP)
Currency code: COP
Exchange rates: Colombian pesos per US dollar – 2,877.65 (2003), 2,504.24 (2002), 2,299.63 (2001), 2,087.9 (2000), 1,756.23 (1999)
Fiscal year: calendar year
StateMaster – District of Columbia Economy statistics
… of Columbia. 735 facts and figures, stats and information on District of Columbia Economy … Regions > District of Columbia > Economy. View full size …www.statemaster.com/state/DC-district-of-columbia/eco-economy – 32k –
Barnes & Noble.com – Columbia: An Opening Economy
Collen M. Callahan, F. R. Gunter (Editor), Colleen M. Callahan,Hardcover,Series: Contemporary Studies in Economic and Financial Analysis, English-language edition…search.barnesandnoble.com/booksearch/isbnInquiry.asp?ean=9780762304189
Major Industries and Commercial Activities
Columbia, whose thriving economy has always been based on the education, health care, and insurance industries, is known as a recession-resistant community. Columbia has 13 banks and saving and loans with assets totaling more than $1.6 billion. The city is consistently named as a top place in the nation to live, retire, and do business, in publications such as Money, Entrepreneur, Kiplinger’s Personal Finance and Expansion Management. Forbes listed Columbia as a “Best Small Place to do Business” in May 2004. The city is home to Shelter Insurance Company, MFA Incorporated, and is a regional center for State Farm Insurance.
Columbia’s manufacturers make and sell a wide variety of products. 3M is a major employer, producing projection lenses, optical equipment, electronic products, and interconnect systems. MBS is a textbook distribution center. There are three different factories making various automotive parts. Columbia Foods, a division of Oscar Mayer, employs about 700 workers at its food processing plant. Watlow-Columbia, Inc. manufactures electrical heating elements; the Square D Corporation makes circuit breakers; and Hubbell/Chance produces electric utility eq