Colombia – Fast Facts
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Colombia is a lower middle income economies coming under Latin American and Caribbean region as to the classification made by the World Bank on the basis of income and region for the year 2006.
The country’s economy follows a free market economy system. The business sector of the Colombia economy has performed well in the recent years after the adoption of economic reforms. The economic trends tell that it is a more stabilized economy.
Colombia is a lower middle income economies coming under Latin American and Caribbean region as to the classification made by the World Bank on the basis of income and region for the year 2006.
The country’s economy follows a free market economy system. The business sector of the Colombia economy has performed well in the recent years after the adoption of economic reforms. The economic trends tell that it is a more stabilized economy.
Major agricultural items of the country are coffee, bananas, rice, tobacco, sugarcane, and oilseed. Important industries are textiles, cement, beverages, food products, and chemicals. Huge reserves of coal, nickel and natural gas contribute a lot for Colombia’s economy.
