Colombia is growing
Colombia is going up. The Fair Trade Agreement (FTA) in 2012 with the U.S. led to more trade in goods and services between these two countries and Colombia is also committed to free trade with the EU. Other significant trading partners are Mexico, Ecuador and Brazil. The dominant U.S. import item from Colombia is crude oil, followed by coal, other petroleum oils, precious and semi-precious stones, coffee, tea, flowers and plants. It's a pity that Colombia still doesn't have enough own industry. Now the country is much more in peace than it use to be it may change. For sure tourism is growing very hard.
Colombia's middle class - with a monthly income between $1,100 and $5,500 - has grown from 15% of the population in 2002 to more than 30% nowadays. However, the group is still fragile and could fall back into poverty because of its credit situation. Colombia is also still significantly behind other developing Latin American economies like those of Chile and Mexico where the middle class consists of respectively 50% and 40%, and poverty has dropped to respectively 7.1% and 17.4%. In Colombia more than 35% of the people live below the poverty line.
-> Colombia poverty and inequality statistics - Colombia Reports - article.
-> Bogotá economy statistics - Colombia Reports - article.
-> Great Colombian news portal in English -> colombiareports.com.
-> Colombia's only English language site dedicated to political and economic analysis -> colombia-politics.com.