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The production of cement and other non-metallic building products, which have a share of 4 percent in manufacturing output and employment, is closely linked to the changes in the construction sector. In Colombia cement output is highly concentrated, with three main economic groups controlling more than 90 percent of total output.
The economy of Colombia is the fourth largest in Latin America as measured by gross domestic product [17] and the third-largest economy in South America. [18] [19] Throughout most of the 20th century, Colombia was Latin America's 4th and 3rd largest economy when measured by nominal GDP, real GDP, GDP (PPP), and real GDP at chained PPPs.
The main export destinations for Colombian sugar are the Andean countries, the United States, and Russia. [5] Government policies aimed at lowering dependence on fossil fuels and reducing pollution have boosted the production of ethanol derived from sugars. Vehicles have been using ethanol mixed with gasoline in Colombia's major cities since 2005.
Its major industries include textiles, food processing, petroleum, clothing and footwear, consumer appliances, beverages, chemicals, cement, automobiles, gold, coal, and emeralds For further information on the types of business entities in this country and their abbreviations, see " Business entities in Colombia ".
The main economies of Latin America are Brazil, Argentina, Colombia, Mexico, and Chile. These economies have been given positive outlooks for 2017 by Morgan Stanley. [7] The Latin American economy is largely based on commodity exports, therefore, the global price of commodities has a significant effect on the growth of Latin American economies.
Colombia is the main producer of finer quality emeralds worldwide. Colombia produced 2.7 Mcarats (540 kg) of emeralds during 2008. [15] Emerald mines are located both in the Boyacá and Cundinamarca Departments. Colombian emeralds constitute 50-95% of the world production, the numbers depending on the year, source and emeralds grade. [25] [26] [27]
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Colombia, [b] officially the Republic of Colombia, [c] is a country primarily located in South America with insular regions in North America.The Colombian mainland is bordered by the Caribbean Sea to the north, Venezuela to the east and northeast, Brazil to the southeast, Peru and Ecuador to the south and southwest, the Pacific Ocean to the west, and Panama to the northwest.