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Colombia

The original report was published in The Financial Times Deutschland on Monday, November 5, 2012
Free trade agreements, controlled inflation, healthy economic growth and an improved reputation abroad are combining to thrust Colombia into the international limelight as a favourable investment destination
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Colombia has transparent laws for investors, a solid political system and is curbing crime
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Colombia’s oil and gas sectors comprise nearly one-third of the country’s total GDP
Oil, natural gas and coal are the three legs of Colombia’s energy sector, composing a significant portion of the country’s exports
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The Port of Santa Marta in Colombia is a major facility for coal transport
The country’s ports are an integral component to its success in trade, especially of coal exports
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Juan Mayr Maldonado Colombian Ambassador to Germany
The European nation is not only Colombia’s top European trading partner, but also has important social ties such as scientific research
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Alejandro Figueroa, President of Banco de Bogotá
Colombia’s large banking sector is enjoying success throughout the region
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The successful insurance company is growing regionally, providing quality services for its clients
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Many Colombian clinics and hospitals boast state-of-the-art medical equipment
Colombia’s modern health industry offers inexpensive prices for quality procedures, especially for cosmetic surgery
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Globus Vision
CAPITAL:
Bogotá

AREA:
1,138,910 square kilometres

POPULATION:
42,239,079 (July 2012 estimate)

EASE OF DOING BUSINESS RANK:
42 in 2011, up from 47 in 2010

REAL GDP GROWTH RATE 2011:
5.7%

GDP PER CAPITA:
$10,400 (2011 estimate)

GDP COMPOSITION BY SECTOR:
Agriculture: 7%
Industry: 37.6%
Services: 55.5% (2011 estimate)

LABOUR FORCE:
22.45 million (2011 estimate)

BUDGET DEFICIT:
2.4% of GDP (2011 estimate)

INVESTMENT (GROSS FIXED):
23% of GDP (2011 estimate)

PUBLIC DEBT:
44.6% of GDP (2011 estimate)

INFLATION RATE:
3.7%

INDUSTRIES:
Textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement, gold, coal and emeralds

AGRICULTURE PRODUCTS:
Coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables, shrimp and forest products

EXPORTS:
$56.22 billion (2011 estimate)

IMPORTS:
$54.7 billion (2011 estimate)

EXCHANGE RATE:
1 euro = 2,312 Colombian pesos