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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 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 main destination of Colombia's banana exports is the EU, and the second is the United States. Given the importance of the EU's banana market for Colombia and for Latin America, the outcome of the continuing disputes at the World Trade Organization (WTO) with regard to quotas and tariffs is a major issue to this sector. In November 2007, the ...
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 ".
Colombia has the fastest growing major economy in the western world, and is only behind China worldwide. [ 18 ] Non-traditional exports have boosted the growth of Colombian foreign sales as well as the diversification of destinations of export thanks to new free trade agreements . [ 19 ]
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]
Colombian cuisine is a culinary tradition of six main regions within Colombia [1] (Insular, Caribbean, Pacific, Andean, Orinoco, and Amazonian). Colombian cuisine varies regionally and is influenced by Indigenous Colombian , Spanish , [ 2 ] and African cuisines, [ 3 ] with a slight Arab influence in some regions.
This is a list of mining areas in Colombia. [1] The mineral industry of Colombia is large and diverse; the country occupies the first place in mining areas per surface area in the world. In pre-Columbian times, mining of gold, silver, copper, emeralds, salt, coal and other minerals was already widespread.