Boston, Chicago, Houston, Los Angeles, Miami,
New Orleans, New York, San Francisco, San Juan (Puerto Rico), and
Washington, DC
consulate(s): Atlanta and Tampa
US diplomatic representation: chief of mission: Ambassador Myles R. R. FRECHETTE embassy: Calle 22D-BIS, No. 47–51, Apartado Aereo 3831 mailing address: APO AA 34038 telephone: [57] (1) 315–0811 FAX: [57] (1) 315–2197 consulate(s): Barranquilla
Flag: three horizontal bands of yellow (top, double-width), blue, and red; similar to the flag of Ecuador, which is longer and bears the Ecuadorian coat of arms superimposed in the center
Economy———
Economic overview: Boasting a diversified and stable economy, Colombia has enjoyed Latin America's most consistent record of growth over the last several decades. Gross domestic product (GDP) has expanded every year for more than 25 years, and unlike many other South American countries, Colombia did not default on any of its official debts during the "lost decade" of the 1980s. Since 1990, when Bogota introduced a comprehensive reform program that opened the economy to foreign trade and investment, GDP growth has averaged more than 4% annually. Growth has been fueled in recent years by the expansion of the construction and financial service industries and an influx of foreign capital. Some foreign investors have been deterred by an inadequate energy and transportation infrastructure and the violence stemming from drug trafficking and persistent rural guerrilla warfare, but direct foreign investment, especially in the oil industry, is still rising at a rapid rate. Although oil consequently is overtaking coffee as the main legal export, earnings from illicit drugs probably exceed those from any other export. Non-petroleum economic growth has been slowing, however, in part because the tight monetary policies adopted to offset the inflationary impact of high capital inflows and rising government spending have slowed local sales and investment. Business confidence also has been damaged by a political crisis stemming from allegations that senior government officials, including President SAMPER, solicited contributions from drug traffickers during the 1994 election campaign. The slowdown in the growth of labor-intensive industries such as manufacturing has caused a small rise in unemployment and interfered with President SAMPER'S plans to lower the country's poverty rate, which has remained at about 40% despite the expanding economy. Nevertheless, the booming oil sector, growing foreign investment, and the fundamental stability of the economy promise to keep growth positive for the foreseeable future, barring severe, unpredictable shocks from developments in the political or international arenas.
GDP: purchasing power parity - $192.5 billion (1995 est.)
GDP real growth rate: 5.3% (1995 est.)
GDP per capita: $5,300 (1995 est.)
GDP composition by sector: agriculture: 21.5% industry: 29% services: 49.5%
Inflation rate (consumer prices): 19.5% (1995 est.)
Labor force: 12 million (1990) by occupation: services 46%, agriculture 30%, industry 24% (1990)
Unemployment rate: 9.5% (1995)
Budget:
revenues: $NA
expenditures: $24 billion including capital expenditures of $NA
(1996 est.)
Industries: textiles, food processing, oil, clothing and footwear,
beverages, chemicals, cement; gold, coal, emeralds
Industrial production growth rate: 3.5% (1995 est.)
Electricity: capacity: 10,220,000 kW production: 33 billion kWh consumption per capita: 890 kWh (1993)
Agriculture: coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; forest products; shrimp farming
Illicit drugs: illicit producer of coca, opium poppies, and cannabis; about 50,900 hectares of coca under cultivation in 1995; the world's largest processor of coca derivatives into cocaine; supplier of cocaine to the US and other international drug markets; active aerial eradication program seeks to virtually eliminate coca and opium crops by 1997
Exports: $10.5 billion (f.o.b., 1995 est.) commodities: petroleum, coffee, coal, bananas, fresh cut flowers partners: US 39%, EC 25.7%, Japan 2.9%, Venezuela 8.5% (1992)
Imports: $13.5 billion (c.i.f., 1995 est.) commodities: industrial equipment, transportation equipment, consumer goods, chemicals, paper products partners: US 36%, EC 18%, Brazil 4%, Venezuela 6.5%, Japan 8.7% (1992)
External debt: $14 billion (1995 est.)
Economic aid: recipient: ODA, $30 million (1993)
Currency: 1 Colombian peso (Col$) = 100 centavos
Exchange rates: Colombian pesos (Col$) per US$1 - 1,011.11 (January 1996), 912.83 (1995), 844.84 (1994), 863.06 (1993), 759.28 (1992), 633.05 (1991)
Fiscal year: calendar year
Transportation———————
Railways:
total: 3,386 km
standard gauge: 150 km 1.435-m gauge (connects Cerrejon coal mines
to maritime port at Bahia Portete)
narrow gauge: 3,236 km 0.914-m gauge (1830 km in use) (1995)
Highways: total: 107,200 km paved: 12,600 km unpaved: 94,600 km
Waterways: 14,300 km, navigable by river boats
Pipelines: crude oil 3,585 km; petroleum products 1,350 km;
natural gas 830 km; natural gas liquids 125 km
Ports: Barranquilla, Buenaventura, Cartagena, Leticia, Puerto
Bolivar, San Andres, Santa Marta, Tumaco, Turbo
Merchant marine:
total: 19 ships (1,000 GRT or over) totaling 97,037 GRT/129,404 DWT
ships by type: bulk 5, cargo 8, container 3, oil tanker 3 (1995 est.)
Airports:
total: 989
with paved runways over 3 047 m: 2
with paved runways 2 438 to 3 047 m: 9
with paved runways 1 524 to 2 437 m: 33
with paved runways 914 to 1 523 m: 35
with paved runways under 914 m: 557
with unpaved runways 2 438 to 3 047 m: 1
with unpaved runways 1 524 to 2 437 m: 41
with unpaved runways 914 to 1 523 m: 311 (1995 est.)
Communications———————
Telephones: 1.89 million (1986 est.)
Telephone system: modern system in many respects domestic: nationwide microwave radio relay system; domestic satellite system with 11 earth stations international: satellite earth stations - 2 Intelsat (Atlantic Ocean)
Radio broadcast stations: AM 413 (licensed), FM 217 (licensed), shortwave 28
Radios: NA
Television broadcast stations: 33
Televisions: 5.5 million (1993 est.)
Defense———
Branches: Army (Ejercito Nacional), Navy (Armada Nacional,
includes Marines and Coast Guard), Air Force (Fuerza Aerea
Colombiana), National Police (Policia Nacional)
Manpower availability: males age 15–49: 10,067,538 males fit for military service: 6,774,105 males reach military age (18) annually: 346,372 (1996 est.)
Defense expenditures: exchange rate conversion - $2 billion, 2.8% of GDP (1995)
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@Comoros———