The 

economy of Colombia is the fourth largest in Latin America as measured by gross

domestic product.[19] Colombia has experienced a historic economic boom over the last
decade. Throughout the 20th century Colombia was Latin America's 4th and 3rd largest
economy GDP (PPP) and between 2012-2014 it became the 4th largest in Latin America
(nominal) GDP. As of 2018 the GDP (PPP) per capita has increased to over US$14,000,
and GDP (PPP) increased from US$250 billion in 1990 to nearly US$800 billion.
[4]
 Poverty levels were as high as 65% in 1990, but decreased to under 30% by 2014.[8]

Petroleum is Colombia's main export, making over 45% of Colombia's exports.

Manufacturing makes up nearly 12% of Colombia's exports, and grows at a rate of over
10% a year. Colombia has the fastest growing information technology industry in the
world and has the longest fibre optic network in Latin America.[20] Colombia also has one
of the largest shipbuilding industries in the world outside Asia.

Modern industries like shipbuilding, electronics, automobile, tourism, construction, and

mining, grew dramatically during the 2000s and 2010s, however, most of Colombia's
exports are still commodity-based. Colombia is Latin America's 2nd-largest producer of
domestically-made electronics and appliances only behind Mexico. Colombia had the
fastest growing major economy in the western world in 2014, behind only China
worldwide.[21][22]

Since the early 2010s, the Colombian government has shown interest in exporting
modern Colombian pop culture to the world (which includes video games, music, movies,
TV shows, fashion, cosmetics, and food) as a way of diversifying the economy and
entirely changing the image of Colombia; a national campaign similar to the Korean
Wave.[23] Colombia is only behind Mexico in cultural exports and is already a regional
leader in cosmetic and beauty exports.[24]

The number of tourists in Colombia grows by over 12% every year. Colombia is projected
to have over 15 million tourists by 2023.

Labor rights[edit]

On 8 June 2020, the newly formed Employment Mission (Misión de Empleo) met for the
first time to discuss labor reforms that it intended to propose to Congress. Some of these
reforms had been desired for years, and others had come into starker view during
the coronavirus pandemic

Livestock
In the production of beef and chicken meat, Colombia is among the 20 largest producers
in the world

In Colombia, the exploitation and breeding of cattle is carried out on small farms and
large farms. Black-eared white, casanareño, coastal with horns, romosinuano, chino
santandereano and hartón del Valle, are the Colombian breeds with the highest
production.

In 2013, livestock occupied 80% of productive land in Colombia. The livestock sector is
one of the most outstanding in areas such as Caribbean Region, where seven
departments have livestock as their primary vocation.[42] Also in Antioquia, where there is
the largest cattle inventory in the country, the department had that year 11% of the head
of cattle in Colombia, and according to the livestock inventory, in 2012 Antioqueños
counted around 2,268,000 head of cattle.[43]

Also in 2013, the bovine herd in Colombia reached 20.1 million head of cattle, of which
2.5 million (12.5%) were milking cows. In addition, the country's total milk production was
13.1 million liters.[44]

On the other hand, the increase in imports of pork meat, the high prices of inputs and the
slowdown in the national economy, produced a crisi

Industry[edit]
See also: Industry of Colombia

The World Bank lists the main producing countries each year, based on the total value of
production. According to the 2019 list, Colombia has the 46th most valuable industry in
the world (US $ 35.4 billion), behind Mexico, Brazil, Venezuela and Argentina, but ahead
of Peru and Chile.[46]

Manufacturing
Domestic appliances

Although Colombia has been producing domestic appliances since the 1930s, it wasn't
until the late 1990s that Colombian corporations began exporting to neighboring
countries. One of Colombia's largest producers of domestic appliances, HACEB has
been producing refrigeration since 1940. Some domestic corporations include:
Challenger, Kalley, HACEB, Imusa, and Landers. In 2011, Groupe SEB acquired Imusa
as a form to expand to the Latin American market.[47] Colombia also manufactures for
foreign companies as well, such as Whirlpool and GE.[48] LG has also been interested in
building a plant in Colombia. Colombia is also Latin America's 3rd largest producer of
appliances behind Mexico and Brazil and is growing rapidly.

Electronic

Colombia is a major producer of electronics in Latin America, and is South America's 2nd
largest high-tech market.[49] Colombia is also the 2nd largest producer and exporter of
electronics made by domestic companies in Latin America. Since the early 2000s, major
Colombian corporations began exporting aggressively to foreign markets. Some of these
companies include: Challenger, PcSmart, Compumax, Colcircuirtos, and Kalley.
Colombia is the first country in Latin America to manufacture a domestically made 4K
television.[50] In 2014, the Colombian Government launched a national campaign to
promote IT and Electronic sectors, as well as investing in Colombia's own companies.
[49]
 Although innovation remains low on the global scale, the government sees heavy
potential in the high tech industry and is investing heavily in education and innovation
centers all across the nation. Because of this, Colombia could become a major global
manufacturer of electronics and play an important role in the global high tech industry in
the near future. In 2014, the Colombian government released another national campaign
to help Colombian companies have a bigger share of the national market.[51]
Construction

Construction recently[when?] has played a vital role in the economy, and is growing rapidly
at almost 20% annually. As a result, Colombia is seeing a historic building boom. The
Colombian government is investing heavily in transport infrastructure through a plan
called "Fourth Generation Network". The target of the Colombian government is to build
7,000 km of roads for the 2016–2020 period and reduce travel times by 30% and
transport costs by 20%. A toll road concession program will comprise 40 projects, and is
part of a larger strategic goal to invest nearly $50bn in transport infrastructure, including:
railway systems; making the Magdalena river navigable again; improving port facilities;
as well as an expansion of Bogotá's airport.[52] Long-term plans include building a national
high-speed train network, to vastly improve competitiveness.

Industry
The World Bank lists the main producing countries each year, based on the total value of
production. According to the 2019 list, Colombia has the 46th most valuable industry in
the world (US $ 35.4 billion), behind Mexico, Brazil, Venezuela and Argentina, but ahead
of Peru and Chile.

Manufacturing
Domestic appliances

Although Colombia has been producing domestic appliances since the 1930s, it wasn't
until the late 1990s that Colombian corporations began exporting to neighboring
countries. One of Colombia's largest producers of domestic appliances, HACEB has
been producing refrigeration since 1940. Some domestic corporations include:
Challenger, Kalley, HACEB, Imusa, and Landers. In 2011, Groupe SEB acquired Imusa
as a form to expand to the Latin American market.[47] Colombia also manufactures for
foreign companies as well, such as Whirlpool and GE.[48] LG has also been interested in
building a plant in Colombia. Colombia is also Latin America's 3rd largest producer of
appliances behind Mexico and Brazil and is growing rapidly.

Electronics

Colombia is a major producer of electronics in Latin America, and is South America's 2nd
largest high-tech market.[49] Colombia is also the 2nd largest producer and exporter of
electronics made by domestic companies in Latin America. Since the early 2000s, major
Colombian corporations began exporting aggressively to foreign markets. Some of these
companies include: Challenger, PcSmart, Compumax, Colcircuirtos, and Kalley.
Colombia is the first country in Latin America to manufacture a domestically made 4K
television.[50] In 2014, the Colombian Government launched a national campaign to
promote IT and Electronic sectors, as well as investing in Colombia's own companies.
[49]
 Although innovation remains low on the global scale, the government sees heavy
potential in the high tech industry and is investing heavily in education and innovation
centers all across the nation. Because of this, Colombia could become a major global
manufacturer of electronics and play an important role in the global high tech industry in
the near future. In 2014, the Colombian government released another national campaign
to help Colombian companies have a bigger share of the national market.[51]
Construction

Construction recently[when?] has played a vital role in the economy, and is growing rapidly
at almost 20% annually. As a result, Colombia is seeing a historic building boom. The
Colombian government is investing heavily in transport infrastructure through a plan
called "Fourth Generation Network". The target of the Colombian government is to build
7,000 km of roads for the 2016–2020 period and reduce travel times by 30% and
transport costs by 20%. A toll road concession program will comprise 40 projects, and is
part of a larger strategic goal to invest nearly $50bn in transport infrastructure, including:
railway systems; making the Magdalena river navigable again; improving port facilities;
as well as an expansion of Bogotá's airport.[52] Long-term plans include building a national
high-speed train network, to vastly improve competitiveness.