Despite its numerous rivers and its proximity to both the Pacific Ocean and Caribbean Sea, Colombia’s fishing industry has been slow to develop. Today, the industry produces less than 1 percent of the country’s gross national product, but the government has targeted the port of Buenaventura as a potential center for development. Here, a boy places fish in the sun on a dock at Buenaventura.
This can be extremely important to a country’s economy. Many LDCs export the products derived from their primary industries. A country shipping iron ore or petroleum to some other country for smelting or refining is an example. If a country processes its own natural resources, there is value added to the original resource. Steel and gasoline are more valuable than iron ore and oil direct from the ground. Some Colombian industries are engaged in value-added manufacturing. These include steel mills, several oil refineries, textile mills, fish processing plants, and lumber mills.
Published on Feb 8, 2010
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