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Country name:

conventional long form: Republic of Colombia
conventional short form: Colombia
local long form: Republica de Colombia
local short form: Colombia

 

Capital:

Bogotá. Population: 7.1 million (2007 estimate

 

Location:

Northwest South America

 

 

Area:

1,141,748 sq km (440,831 sq miles).
 

 

 

Map of Colombia

Population:

45 million (2008 estimate).
 

 

Languages:

Spanish is the official language. Local dialects and some English, French, German and Italian are also spoken

 

Economy - overview:

Colombia's economy has grown steadily over the past few years. Annual growth has increased from 3.75% in 2003 to 5.13% in 2005 and 7% in 2007. Inflation was at 5.5% in 2007, while unemployment levels are dropping, though still relatively high at 11.2%. While coffee is Colombia's main agricultural export, the country has significant mineral and energy resources, particularly coal and natural gas. According to current projections, Colombia is expected to continue exporting oil until 2010 or 2011. In February 2006, Colombia signed a Free Trade Agreement with the USA, which was set to come into force in early 2008; however, it is still awaiting the approval of US Congress.

Economy:
Colombia's economy has grown steadily over the past few years. Annual growth has increased from 3.75% in 2003 to 5.13% in 2005 and 7% in 2007. Inflation was at 5.5% in 2007, while unemployment levels are dropping, though still relatively high at 11.2%. While coffee is Colombia's main agricultural export, the country has significant mineral and energy resources, particularly coal and natural gas. According to current projections, Colombia is expected to continue exporting oil until 2010 or 2011. In February 2006, Colombia signed a Free Trade Agreement with the USA, which was set to come into force in early 2008; however, it is still awaiting the approval of US Congress.

 

Industries:

textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds


Exports:
Oil, coffee, coal, clothes and bananas. • Main trade partners: USA, Venezuela, B razil, Mexico and China.

Imports:
Industrial equipment, transportation equipment, consumer goods, chemicals and paper products.

GDP :
US$171.6 billion (2007 estimate).
 

Exchange rates:

 

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  Copyright By :  Kish Trade Promotion Center  2002