During the 1968-74 period accelerated growth of the Colombian economy was accompanied by a structural transformation toward an urban, industrial economy more interdependent with the world economy. This was followed by a slowdown, but the economy began to recover in the second half of 1975, and the balance of payments improved sharply. Over the longer term the pace of development will be significantly influenced by external factors such as the world coffee price, growth of nontraditional exports, and inflow of external capital. Good crops and resumption of export growth are expected, but both public and private investment will have to increase significantly to sustain a favorable rate of growth. Development of new mineral resources for export should help strengthen Colombia's foreign exchange position. Heavy reliance on the private sector to generate the impetus for growth will continue, requiring a balanced public financial position. Export earnings should increase because of favorable coffee prices, good prospects for other agricultural exports, and the recovery of the manufactured goods export market. Long term creditworthiness should be strong.
Details
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Document Date
1976/07/29
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Document Type
Pre-2003 Economic or Sector Report
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Report Number
1190
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Volume No
2
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Total Volume(s)
2
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Country
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Region
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Disclosure Date
2010/06/12
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Disclosure Status
Disclosed
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Doc Name
Statisical appendix
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Keywords
gross domestic product;capital consumption allowance;agency for international development;export of goods;import of goods;wages and salary;children under age;course of study;economically active population;real growth rate;personal income tax;area under cultivation;direction of trade;social security system;social security contribution;money supply;private consumption;market price;
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Citation
Colombia - Economic memorandum (Vol. 2) : Statisical appendix (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/852151468240592488/Statisical-appendix