According to the 2019 list, Colombia has the 46th most valuable industry in the world (US $ 35.4 billion), behind Mexico, Brazil, Venezuela and Argentina, but ahead of Peru and Chile. ===Manufacturing=== ====Domestic appliances==== Although Colombia has been producing domestic appliances since the 1930s, it wasn't until the late 1990s that Colombian corporations began exporting to neighboring countries.
One of Colombia's largest producers of domestic appliances, HACEB has been producing refrigeration since 1940.
As of 2018 the GDP (PPP) per capita has increased to over US$14,000, and GDP (PPP) increased from US$250 billion in 1990 to nearly US$800 billion.
Poverty levels were as high as 65% in 1990, but decreased to under 30% by 2014. Petroleum is Colombia's main export, making over 45% of Colombia's exports.
Real GDP has grown more than 4% per year for the past three years, continuing almost a decade of strong economic performance. In 1990, the administration of President César Gaviria Trujillo (1990–94) initiated economic liberalism policies or "apertura economica" and this has continued since then, with tariff reductions, financial deregulation, privatization of state-owned enterprises, and adoption of a more liberal foreign exchange rate.
However, Colombia's agricultural share of GDP decreased during the 1990s by less than in many of the world's countries at a similar level of development, even though the share of coffee in GDP diminished in a dramatic way.
According to the 2019 list, Colombia has the 46th most valuable industry in the world (US $ 35.4 billion), behind Mexico, Brazil, Venezuela and Argentina, but ahead of Peru and Chile. ===Manufacturing=== ====Domestic appliances==== Although Colombia has been producing domestic appliances since the 1930s, it wasn't until the late 1990s that Colombian corporations began exporting to neighboring countries.
Still, this policy makes food cheaper for the average Colombian than it would be if agricultural trade were more restricted. Until 1997, Colombia had enjoyed a fairly stable economy.
An over-valued peso inherited from the previous administration was maintained. The economy slowed, and by 1998 GDP growth was only 0.6%.
While unemployment remained at 20% in 2000, GDP growth recovered to 3.1%. The administration of President Andrés Pastrana Arango, when it took office on 7 August 1998, faced an economy in crisis, with the difficult internal security situation and global economic turbulence additionally inhibiting confidence.
In 1999, the country fell into its first recession since the Great Depression.
As evidence of a serious recession became clear in 1999, the government took a number of steps.
Colombia's total foreign debt at the end of 1999 was $34.5 billion with $14.7 billion in private sector and $19.8 billion in public sector debt.
Colombia also has one of the largest shipbuilding industries in the world outside Asia. Modern industries like shipbuilding, electronics, automobile, tourism, construction, and mining, grew dramatically during the 2000s and 2010s, however, most of Colombia's exports are still commodity-based.
While unemployment remained at 20% in 2000, GDP growth recovered to 3.1%. The administration of President Andrés Pastrana Arango, when it took office on 7 August 1998, faced an economy in crisis, with the difficult internal security situation and global economic turbulence additionally inhibiting confidence.
Colombia also entered into an agreement with the International Monetary Fund which provided a $2.7 billion guarantee (extended funds facility), while committing the government to budget discipline and structural reforms. By early 2000 there had been the beginning of an economic recovery, with the export sector leading the way, as it enjoyed the benefit of the more competitive exchange rate, as well as strong prices for petroleum, Colombia's leading export product.
Prices of coffee, the other principal export product, have been more variable. Economic growth reached 3.1% during 2000 and inflation 9.0%.
Since the early 2000s, major Colombian corporations began exporting aggressively to foreign markets.
Major international credit rating organizations have dropped Colombian sovereign debt below investment grade, primarily as a result of large fiscal deficits, which current policies are seeking to close. Former president Álvaro Uribe (elected 7 August 2002) introduced several neoliberal economic reforms, including measures designed to reduce the public-sector deficit below 2.5% of GDP in 2004.
Growth slowed to 1.4 percent in 2017, and then increased to 3.3 percent in 2019. President Uribe, who was in office from 2002–2010, examined opportunities including reforming the pension system, reducing high unemployment, achieving congressional passage of a fiscal transfers reform, and exploring for new oil or producing ethanol.
The government's economic policy and controversial 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, at over 4%.
Major international credit rating organizations have dropped Colombian sovereign debt below investment grade, primarily as a result of large fiscal deficits, which current policies are seeking to close. Former president Álvaro Uribe (elected 7 August 2002) introduced several neoliberal economic reforms, including measures designed to reduce the public-sector deficit below 2.5% of GDP in 2004.
Agriculture has nevertheless remained an important source of employment, providing a fifth of Colombia's jobs in 2006. The most industrially diverse member of the five-nation Andean Community, Colombia has four major industrial centers—Bogota, Medellin, Cali, and Barranquilla, each located in a distinct geographical region.
Colombia also has one of the largest shipbuilding industries in the world outside Asia. Modern industries like shipbuilding, electronics, automobile, tourism, construction, and mining, grew dramatically during the 2000s and 2010s, however, most of Colombia's exports are still commodity-based.
Colombia had the fastest growing major economy in the western world in 2014, behind only China worldwide. Since the early 2010s, the Colombian government has shown interest in exporting modern Colombian pop culture to the world (which includes video games, music, movies, TV shows, fashion, cosmetics, and food) as a way of diversifying the economy and entirely changing the image of Colombia; a national campaign similar to the Korean Wave.
In 2011, Groupe SEB acquired Imusa as a form to expand to the Latin American market.
Throughout the 20th century Colombia was Latin America's 4th and 3rd largest economy GDP (PPP) and between 2012-2014 it became the 4th largest in Latin America (nominal) GDP.
Also in Antioquia, where there is the largest cattle inventory in the country, the department had that year 11% of the head of cattle in Colombia, and according to the livestock inventory, in 2012 Antioqueños counted around 2,268,000 head of cattle. Also in 2013, the bovine herd in Colombia reached 20.1 million head of cattle, of which 2.5 million (12.5%) were milking cows.
Black-eared white, casanareño, coastal with horns, romosinuano, chino santandereano and hartón del Valle, are the Colombian breeds with the highest production. In 2013, livestock occupied 80% of productive land in Colombia.
Also in Antioquia, where there is the largest cattle inventory in the country, the department had that year 11% of the head of cattle in Colombia, and according to the livestock inventory, in 2012 Antioqueños counted around 2,268,000 head of cattle. Also in 2013, the bovine herd in Colombia reached 20.1 million head of cattle, of which 2.5 million (12.5%) were milking cows.
Poverty levels were as high as 65% in 1990, but decreased to under 30% by 2014. Petroleum is Colombia's main export, making over 45% of Colombia's exports.
Colombia had the fastest growing major economy in the western world in 2014, behind only China worldwide. Since the early 2010s, the Colombian government has shown interest in exporting modern Colombian pop culture to the world (which includes video games, music, movies, TV shows, fashion, cosmetics, and food) as a way of diversifying the economy and entirely changing the image of Colombia; a national campaign similar to the Korean Wave.
In 2014, the Colombian Government launched a national campaign to promote IT and Electronic sectors, as well as investing in Colombia's own companies.
In 2014, the Colombian government released another national campaign to help Colombian companies have a bigger share of the national market. ====Construction==== Construction recently has played a vital role in the economy, and is growing rapidly at almost 20% annually.
In addition, the country's total milk production was 13.1 million liters. On the other hand, the increase in imports of pork meat, the high prices of inputs and the slowdown in the national economy, produced a crisis in the raising of pork in Colombia in 2015. ==Industry== The World Bank lists the main producing countries each year, based on the total value of production.
The target of the Colombian government is to build 7,000 km of roads for the 2016–2020 period and reduce travel times by 30% and transport costs by 20%.
Growth slowed to 1.4 percent in 2017, and then increased to 3.3 percent in 2019. President Uribe, who was in office from 2002–2010, examined opportunities including reforming the pension system, reducing high unemployment, achieving congressional passage of a fiscal transfers reform, and exploring for new oil or producing ethanol.
As of 2018 the GDP (PPP) per capita has increased to over US$14,000, and GDP (PPP) increased from US$250 billion in 1990 to nearly US$800 billion.
Growth slowed to 1.4 percent in 2017, and then increased to 3.3 percent in 2019. President Uribe, who was in office from 2002–2010, examined opportunities including reforming the pension system, reducing high unemployment, achieving congressional passage of a fiscal transfers reform, and exploring for new oil or producing ethanol.
According to the 2019 list, Colombia has the 46th most valuable industry in the world (US $ 35.4 billion), behind Mexico, Brazil, Venezuela and Argentina, but ahead of Peru and Chile. ===Manufacturing=== ====Domestic appliances==== Although Colombia has been producing domestic appliances since the 1930s, it wasn't until the late 1990s that Colombian corporations began exporting to neighboring countries.
Inflation under 5% is in green. ===Graphics=== == Labor rights == On 8 June 2020, the newly formed Employment Mission (Misión de Empleo) met for the first time to discuss labor reforms that it intended to propose to Congress.
All text is taken from Wikipedia. Text is available under the Creative Commons Attribution-ShareAlike License .
Page generated on 2021-08-05