Colombia: Facts & Stats

ECONOMY

There has been strong growth in this sector over the past few years, encouraging foreign investment in plants and capital. 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.

Industry:

The industrial sector of Colombia includes manufacturing and construction. Most of the industrial activity is concentrated in and around Bogotá, Medellín, Barranquilla, and Cali. Industries in Medellín produce textiles, clothing, chemicals, plastic, and printed materials.

Manufacturing is located mostly in the provinces of Antioquia, Cauca, in the capital district, and to a lesser extent in Barranquilla, on the Atlantic coast. The number of people employed by this sector is about 600 thousand — approximately 20 % of the economically active population.

The construction industry, one of the largest employment sectors in Colombia, has been very dynamic over the last 2 decades, totaling close to 7,000 companies.

Colombia has five oil refineries, with a production capacity of 286,000 barrels per day. Hydroelectric potential was developed during the 1970s and 80s.

Colombia is rich in resources , including natural oil, gas, coal, iron ore, nickel, gold, copper, emeralds, and platinum. The saltworks at Zipaquirá, near Bogotá, are world famous.

Export-oriented industries include coal and oil derivatives, chemicals, porcelain, and glass.

Agriculture:

Agriculture has traditionally been the chief economic activity in Colombia. The primary agricultural products of Colombia are coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables, fique, panela, forest products; and shrimp.

Only 6 % of Colombia's area is cultivated, and arable land estimated to be at least 20 % of the country's total area. Thirty-five percent could be used as permanent pasture. Forty-five percent of the country is covered by forest and scrubwood. Agriculture contributes about 25 % of the local product and nearly 75% of the exports. Coffee has been by far the most important commercial crop since the beginning of the twentieth century. There are approximately 300,000 coffee-growing farms, extending over a total area of 2.5 million acres, producing 654,000 tons of mostly-high quality coffee.

Next important export crops are bananas, cotton, sugarcane, oil palms, pineapple and flowers. The main crops for domestic consumption are corn, rice, sorghum, potatoes, manioc and tobacco. The vast forest of the eastern lowlands and the Andes yield 17.5 million cubic meters of timber annually as well as several types of resins.

Animal products figure prominently in agricultural exports.

Research & Development:

Medical research in Colombia is a joint effort between two sectors: education and health. Most medical research is carried out within the Colombian universities. Medical research is aimed to solve the following problems:

• The understanding the physical mechanisms linking climate variability and entomological processes associated with malaria transmission in two endemic areas of Colombia.
• The development of a comprehensive systems dynamics model to link malaria transmission and climate in Colombia.
• The creation of a Geographic Information System for Malaria in the Java programming language using data at the national, regional and local levels in Colombia.

Colombia has one of the largest Shipyards in Latin America located in Cartagena.

A small nuclear reactor is located in Bogota.

Colombia is one of the few Latin American countries to have satellites in orbit, since April 7, 2007.

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