Gross Domestic Product (GDP): Approximately
billion in 1987; per capita income roughly US$1,330 in
grew at annual rate of more than 5 percent during 1967-80
declined to annual rate of approximately 2 percent from
1985, and rebounded to annual rate of nearly 5 percent in
Services: Nearly 51 percent of GDP in 1987.
included trade (nearly 11 percent), transportation (nearly
percent), government services (8 percent), and financial
(more than 7 percent).
Industry: Over 25 percent of GDP in 1987;
composed of manufacturing and construction. Major
goods included food, beverages, textiles, and chemicals.
Agriculture: Almost 21 percent of GDP in 1987;
accounted for nearly 68 percent of export earnings in
export crops included coffee, bananas, cut flowers,
Mining and Energy: About 3 percent of GDP in
precious metals included gold, platinum, silver, and
Possessed Latin America's largest coal reserve deposits.
Selfsufficient in oil and natural gas.
Exchange Rate: Government pursued policy of
marginal devaluations of peso against major traded
Exchange rate averaged Col$299.1=US$1 in 1988.
Exports: Officially recorded products totaled
approximately US$5.2 billion in 1987. Coffee represented
percent of all exports in 1986. Other significant exports
petroleum and derivatives, metals, and noncoffee
products. Colombia also Latin America's largest exporter
Imports: Approximately US$3.9 billion in 1987.
imports included machinery and equipment, chemicals, and
Balance of Payments: Merchandise trade surplus
1980s offset by chronic services account deficit. Although
manageable, foreign debt more than doubled from 1980 to
total US$14.6 billion.
Fiscal Year: Calendar year.
Data as of December 1988