The economy of Colombia is regarded as free market economy which has its major investment as well as economic ties with Unites States of America. 18.7 of labor force are engaged in industry, whereas, 22.7% are engaged in agriculture and a significant amount of 58.5% of people are engaged in service sector of Colombia. Only 11.1% of people are unemployed in this country.
To understand the Role of Import on Trade and Industrialization in Colombia, let us concentrate with the main industries of Colombia, which is capable of exporting some of its goods. The rest items are imported from other parts of the world. Some of the popular industries of Colombia are food processing, textiles, aircraft, petrochemicals, automobiles, footwear, clothing, chemicals, beverages, gold, cement, emeralds and coal. The labor force are mainly engaged in these sectors, which directly affects the country's economy.
The trading partners of Colombia in terms of export are Venezuela, United States of America and Ecuador. In terms of import, Colombia imports to a substantial amount of 24.33 billion US Dollar. Import partners of Colombia are Mexico, Venezuela, People's Republic of China, United States of America and Brazil. Colombia has a relation with Venezuela and United States in terms of both export and import. This plays a substantial Role of Import on Trade and Industrialization in Colombia.
The main industrial centers of Colombia are Medellin, Barranquilla, Cali and Bogota, which are located in distinct regions of Colombia. The textile industry of Colombia is mainly involved in production and manufacturing of lingerie. Other items manufactured are paper along with paper products, petrochemicals and chemicals, different type of food and beverages,steel and iron products, construction related items and also some works involving metals.
The diversity in the geographical features and climatic condition of Colombia is highly favorable for the growth of a variety of crops. Forests products are abundant due to the production of these products in nearly all regions of Colombia. It ranges from eucalyptus in the cold regions to tropical hardwoods in the hot region. Some of the agricultural products of Colombia are sugarcane, cacao, bananas, coconuts, rice, tobacco, cotton, cassava among the popular items. Beef cattle are produced in abundance in the hot regions of this country. It also produces a lot of vegetables and fruits like potatoes, wheat, barley, pears, citrus, tomatoes and pineapples. The colder regions are capable for producing poultry along with dairy cattle. Some of the beautiful flowers are also produced in Colombia. So, this exports some of these excess items to different parts of the world who are attached with this country as trading partners in terms of exports. Colombia also has to import some products from Colombia's trading partners of import.
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