Colombia Economy

As one of the larger economies in Latin America, Colombia has a track record of above-average GDP growth, a reputation for sound macroeconomic management and market-friendly policies. In 2015 it has demonstrated resilience, absorbing a significant oil price shock – petroleum accounts for roughly half of total exports –while maintaining positive, albeit slower, growth. The economy expanded by...

As peace talks between the government of Juan Manuel Santos Calderón and the leaders of the FARC continue in an effort to end 51 years of armed conflict, Colombia’s political climate could now be on the verge of significant change. Both sides agreed in September 2015 to set a deadline by which a final peace accord must be signed – March 23, 2016. If achieved, a peace accord could bolster...

As the peace negotiations between the government and FARC continue, Colombia’s art scene has begun to reflect the country’s newfound optimism. This chapter also includes helpful information for visitors, including hotel listings and contact information for various institutions such as embassies and government agencies.

Despite the global vagaries of the mining business and potential volatility in hydrocarbons, a combination of economic liberalisation, free trade agreements and entry to a variety of trade blocs has assured steady growth for Colombia over the past few years. After expanding 6.6% in 2011 and 4% in 2012, Colombia’s economy experienced a slowdown during much of the first half of 2013, registering...

In just a decade, advances in the fight against insurgent groups, coupled with long-term policies that have generated confidence among investors, have radically changed the way the world looks at Colombia. On the political front, the government of President Juan Manuel Santos Calderón has maintained a dialogue over the past 18 months with the Revolutionary Armed Forces of Colombia, with hopes...