justing to fewer subsidies, greater
competition, and the collapse of the international coffee agreement,
which has kept world coffee prices at near-record lows in 1991-93.
Business construction was a leading sector in 1993. The substantial
trade deficit in 1993 was the result of a strong peso that inhibited
exports and a liberalized government policy that spurred imports.
National product:
GDP - purchasing power equivalent - $192 billion (1993 est.)
National product real growth rate:
5.1% (1993 est.)
National product per capita:
$5,500 (1993 est.)
Inflation rate (consumer prices):
22.6% (1993 est.)
Unemployment rate:
7.9% (1993 est.)
Budget:
revenues:
$11 billion
expenditures:
$12 billion, including capital expenditures of $2.2 billion (1993
est.)
Exports:
$6.9 billion (f.o.b., 1992 est.)
commodities:
petroleum, coffee, coal, bananas, fresh cut flowers
partners:
US 39%, EC 25.7%, Japan 2.9%, Venezuela 8.5% (1992)
Imports:
$6.7 billion (c.i.f., 1992 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:
$17 billion (1992)
Industrial production:
growth rate 2% (1993 est.); accounts for 21% of GDP
Electricity:
capacity:
10,193,000 kW
production:
36 billion kWh
consumption per capita:
1,050 kWh (1992)
Industries:
textiles, food processing, oil, clothing and footwear, beverages,
chemicals, metal products, cement; mining - gold, coal, emeralds,
iron, nickel, silver, salt
Agriculture:
growth rate 2.7% (1993 est.) accounts for 21% of GDP; crops make up
two-thirds and livestock one-third of agricultural output; climate and
soils permit a wide variety of crops, such as coffee, rice, tobacco,
corn, sugarcane, cocoa beans, oilseeds, vegetables; forest products
and shrimp farming are becoming more important
Illicit drugs:
illicit producer of coca, opium, and cannabis; about 37,100 hectares
of coca under cultivation; the world's largest processor of coca
derivatives into cocaine in 1992; supplier of cocaine to the US and
other international drug markets
Economic aid:
recipient:
US commitments, including Ex-Im (FY70-89), $1.6 billion; Western
(non-US) countries, ODA and OOF bilateral commitments (1970-89), $3.3
billion; Communist countries (1970-89), $399 million
Currency:
1 Colombian p