Colombia is one of the largest economies in South America. The country holds great potential for traders, who can get maximum returns from their investments in the Colombian market. The Colombian economy has long been inflicted by high debts and internal conflicts. However, despite these obstacles, Colombia has witnessed several improvements in the past decade (2000-2009). Colombia also actively engages in import and export activities; however, its poor economy is a challenge to traders. A factor that goes against importers’ interests is the low demand for mainstream commodities in the country. Colombia shares strong export markets with its Latin American counterparts. Being one of the largest producers of emeralds in the world, Colombia provides a good market for investors who are involved in international gem and jewelry industry.
Colombia Trade: Exports and Imports
Colombia’s primary export commodities include petroleum, coffee, coal, nickel, emeralds, bananas and apparel. The following chart shows Colombia’s exports from 2008 to 2009. All data are in USD billion.
The next chart shows the distribution of Colombia’s major export partners in 2008 (in percentages).
Colombia’s primary import commodities include industrial equipment, transportation equipment, consumer goods, chemicals, fuel and electricity. The following table shows Colombia’s imports in the year 2008 and 2009. All data are in USD billion.
The next chart shows the distribution of Colombia’s major import partners for 2008 (data in percentages).
The official currency of Colombia is Colombian peso (COP). The following chart illustrates the exchange rates of COP against the US dollar from 2005 to 2009.