International organization participation: AG, CCC, CDB, ECLAC, FAO, G-
3, G-11, G-24, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA,
IFAD, IFC, IFRCS, IHO (pending member), ILO, IMF, IMO, Inmarsat,
Intelsat, Interpol, IOC, IOM, ISO, ITU, LAES, LAIA, NAM, OAS, OPANAL,
PCA, RG, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNU, UPU, WCL, WFTU, WHO,
WIPO, WMO, WToO, WTrO
Diplomatic representation in the US: chief of mission: Ambassador Juan Carlos ESGUERRA Portocarrero chancery: 2118 Leroy Place NW, Washington, DC 20008 telephone: [1] (202) 387-8338 FAX: [1] (202) 232-8643 consulate(s) general: Boston, Chicago, Houston, Los Angeles, Miami, New Orleans, New York, San Francisco, San Juan (Puerto Rico), and Washington, DC consulate(s): Atlanta and Tampa
Diplomatic representation from the US: chief of mission: Ambassador Myles R. R. FRECHETTE embassy: Calle 22D-BIS, No. 47-51, Apartado Aereo 3831 mailing address : APO AA 34038 telephone: [57] (1) 315-0811 FAX: [57] (1) 315-2197
Flag description: three horizontal bands of yellow (top, double-width), blue, and red; similar to the flag of Ecuador, which is longer and bears the Ecuadorian coat of arms superimposed in the center
Economy
Economy - overview: Boasting a diversified and stable economy, Colombia has enjoyed Latin America's most consistent record of growth over the last several decades. Gross Domestic Product (GDP) has expanded every year for more than 25 years, and unlike many other Latin American countries, Colombia did not default on any of its official debts during the "lost decade" of the 1980s. Since 1990, when Bogota introduced a comprehensive reform program that opened the economy to foreign trade and investment, GDP growth has averaged more than 4% annually. Growth has been fueled in recent years by the rapid expansion of the oil sector, progress in the construction and financial service industries, and an influx of foreign capital. Direct foreign investment, especially in the oil industry, is rising at a rapid rate. In 1996, oil overtook coffee as Colombia's main export. Non-petroleum economic growth slowed, however, due mostly to high interest rates - the result of high government spending and a tight monetary policy - and a real appreciation of the exchange rate. Business confidence was also damaged by a political crisis stemming from allegations President SAMPER solicited contributions from drug traffickers during the 1994 campaign. The slowdown in the growth of labor-intensive industries such as manufacturing has caused unemployment to rise to 11.5% by the end of 1996 and interfered with President SAMPER'S plans to lower the country's poverty rate, which has remained at about 40% despite the expanding economy.
GDP: purchasing power parity - $201.4 billion (1996 est.)
GDP - real growth rate: 2.1% (1996 est.)
GDP - per capita: purchasing power parity - $5,400 (1996 est.)
GDP - composition by sector: agriculture : 20% industry: 27% services: 53% (1995 est.)