Colombia Economy

Colombia is at the northern end of South America and borders Panama, Venezuela, Brazil, Ecuador and Peru. Cocaine is a profitable cash crop for countries that grow coca plants.

Colombia, like other cocaine producing countries, has a legal economy and a population of 49 million with a land area of 440,800 square miles.

Nominal GDP is $307.5 billion. GDP growth is 1.2%. Labor force is 24.67 million. Unemployment is 9.3%. Poverty is 27.8%. Inflation is 4.3%.

Main industries include textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds, coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; shrimp; forest products

Exports are $36.79 billion including petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas and apparel sold to US 33.5%, Panama 6.3%.

Imports are $44.68 billion including industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels and electricity from the US 26.4%, China 19.1%, Mexico 7.5%, Brazil 4.7% (2016)

https://theodora.com/wfbcurrent/colombia/colombia_economy.html

Colombia was the world leading producer of coca until 2000. in 2010, the Colombia reduced cocaine production by 60%, relative to the peak in 2000. In that same year, Peru surpassed Colombia as the main producer of coca leaves in the world. Drug-related violence in Columbia has declined over the last 10 years but increased in the remaining coca growing countries like Honduras, El Salvador, Venezuela, Guatemala and Trinidad and Tobago.

Coca plant production is 700 million metric tons per year and is a popular agricultural cash product.  Small family farmers who are included in the poverty group grow coca leaves in addition to foods to get the cash to be able to afford other things.  Cocaine is produced for $1500 per kilo in Colombia and sold to consumers in the US for $50,000 per kilo. The profit goes to the drug cartels and those they bribe to stay in business. Coca is also grown in other countries in South America

https://en.wikipedia.org/wiki/Illegal_drug_trade_in_Colombia

Norb Leahy, Dunwoody GA Tea Party Leader