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Colombia
| Economy Overview |
| Colombia's economy has been on a recovery trend during the past two years despite a serious armed conflict. The economy continues to improve thanks to austere government budgets, focused efforts to reduce public debt levels, and an export-oriented growth focus. Ongoing economic problems facing President URIBE range from reforming the pension system to reducing high unemployment. New exploration is needed to offset declining oil production. On the positive side, several international financial institutions have praised the economic reforms introduced by URIBE, which include measures designed to reduce the public-sector deficit below 2.5% of GDP. The government's economic policy and democratic security strategy have engendered a growing sense of confidence in the economy, particularly within the business sector. Coffee prices have recovered from previous lows as the Colombian coffee industry pursues greater market shares in developed countries such as the United States. |
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| Economy Statistics |
| Exports: |
$15.5 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
petroleum, coffee, coal, apparel, bananas, cut flowers [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
US 42.1%, Venezuela 9.7%, Ecuador 6% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$15.34 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
US 29.1%, Venezuela 6.5%, China 6.4%, Mexico 6.2%, Brazil 5.8% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Colombian American Chamber of Commerce |
| Address: |
250 Catalonia Ave.
Suite #407
Coral Gables, FL, 33134 |
| Phone: |
305-446-2542 |
| Website: |
http://www.colombiachamber.com/ |
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