Page 82

Colombia’s Economy These industries, in turn, provide the raw materials used in the manufacture of metal products, petroleum and chemical products, the garment industry, and the wood products industries, including lumber, pulp, and paper. In addition to textiles, agriculture provides the raw materials for food and beverage industries. Finally, in various combinations, the aforementioned products are used in the manufacturing of items ranging from electrical equipment to ­pharmaceuticals. For several reasons, manufacturing industries have been slow to develop in Colombia. At times, some businesses have been under public (government) ownership. Rarely is this arrangement in the best interest of a nation’s economic development. In addition, for nearly a century, the country’s manufacturing economy has faced many problems. Some, such as the Great Depression and World War II, were imposed by forces over which the country had no control. Within Colombia, however, seemingly constant internal conflict, inept governments, widespread corruption, bureaucratic red tape, a poor infrastructure, and a host of other problems have discouraged investment. This is true whether it pertains to Colombians investing in the future of their own country or potential foreign investors. Simply stated, people want to invest in a business environment that is safe and in which their capital resources can grow. This has not been the case in Colombia. Today, secondary industries only contribute about 35 percent of the country’s GDP and involve about 19 percent of the labor ­force. Tertiary ­Industries Tertiary industries are those that provide or produce some service for consumers. They include many businesses, including financial institutions and sales, education, health, transportation, communication, and entertainment. The more developed a country is economically, the higher the percentage of its economy that results from the provision of services. In ­Colombia, a



ArgentinA rePuBliC of georgiA BAhrAin south AfriCA indonesiA Puerto riCo thAilAnd the united stAtes of AmeriCA frAnCe senegAl uKrAine CuBA m...