Colombia/

Colombia experienced accelerating growth between 2002 and 2007, chiefly due to improvements in domestic security, rising commodity prices, and to President URIBE’s promarket economic policies. Foreign direct investment reached a record $10 billion in 2008, and continues to flow in, especially in the oil sector. A series of policies enhanced Colombia’s investment climate: pro-business reforms in the oil and gas sectors and export-led growth fueled mainly by the Andean Trade Promotion and Drug Eradication Act. Inequality, underemployment, and narcotrafficking remain significant challenges, and Colombia’s infrastructure requires major improvements to sustain economic expansion. Because of the global financial crisis and weakening demand for Colombia’s exports, Colombia’s economy grew only 2.7% in 2008, and 0.8% in 2009 but rebounded to around 4.5% in 2010. The government has encouraged exporters to diversify their customer base beyond the United States and Venezuela, traditionally Colombia’s largest trading partners; the SANTOS administration continues to pursue free trade agreements with Asian and South American partners and awaits the approval of a Canadian trade accord by Canada’s and EU’s parliaments. The business sector remains concerned about Venezuela’s trade restrictions on Colombian exports, an appreciating domestic currency, and the pending US Congressional approval of the US-Colombia Trade Promotion Agreement.

$431.9 billion (2010 est.)

$413.7 billion (2009 est.)

$410.4 billion (2008 est.)

$283.1 billion (2010 est.)

4.4% (2010 est.)

0.8% (2009 est.)

2.7% (2008 est.)

$9,800 (2010 est.)

$9,500 (2009 est.)

$9,500 (2008 est.)

21.27 million (2010 est.)

11.2% (2010 est.)

12% (2009 est.)

46.8% (2008)

58.5 (2009)

53.8 (1996)

22.8% of GDP (2010 est.)

44.8% of GDP (2010 est.)

45.3% of GDP (2009 est.)

2.6% (2010 est.)

4.2% (2009 est.)

3% (October 2010)

5.5% (31 December 2009)

12.98% (31 December 2009 est.)

17.18% (31 December 2008 est.)

$31.83 billion (31 December 2010 est)

$24.41 billion (31 December 2009 est)

$104.9 billion (31 December 2010 est.)

$82.39 billion (31 December 2009 est.)

$123 billion (31 December 2010 est.)

$96.66 billion (31 December 2009 est.)

$133.3 billion (31 December 2009)

$87.03 billion (31 December 2008)

$102 billion (31 December 2007)

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

5.5% (2010 est.)

50.58 billion kWh (2007)

38.59 billion kWh (2007)

876.7 million kWh (2007)

39.4 million kWh (2007)

686,600 bbl/day (2009 est.)

288,000 bbl/day (2009 est.)

294,000 bbl/day (2008 est.)

16,540 bbl/day (2007 est.)

2.1 billion bbl (1 January 2010 est.)

9 billion cu m (2008 est.)

8.1 billion cu m (2008 est.)

900 million cu m (2008 est.)

0 cu m (2008 est.)

112 billion cu m (1 January 2010 est.)

-$5.946 billion (2010 est.)

-$4.991 billion (2009 est.)

$40.24 billion (2010 est.)

$34.03 billion (2009 est.)

petroleum, coffee, coal, nickel, emeralds, apparel, bananas, cut flowers

US 39%, Venezuela 12%, Netherlands 4% (2009)

$36.26 billion (2010 est.)

$31.48 billion (2009 est.)

industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity

US 28%, China 11%, Mexico 7%, Brazil 6.5%, France 4.5%, Germany 4% (2009)

$26.92 billion (31 December 2010 est.)

$24.99 billion (31 December 2009 est.)

$57.74 billion (31 December 2010 est.)

$52.9 billion (31 December 2009 est.)

$84.62 billion (31 December 2010 est.)

$75.22 billion (31 December 2009 est.)

$19.2 billion (31 December 2010 est.)

$16.2 billion (31 December 2009 est.)

Colombian pesos (COP) per US dollar - 1,893.1 (2010), 2,157.6 (2009), 2,243.6 (2008), 2,013.8 (2007), 2,358.6 (2006)