1. The country of Colombia is located in northern South America, nestled between Ecuador, Peru, Brazil, and Venezuela, and Panama. Colombia operates in a democratic society with nearly 48 million residents, while being led by President Juan Manuel Santos. Nearly 10 million individuals claim the capital of Colombia, Bogotá, as their city of residence. Historically, Colombia has been known to be a country populated with drug-related crime. As the society and economy advanced, the internal climate in Colombia has become more positive over the past several decades. There are several dynamic facets of Colombia, including its economics and resources, its religious and spirituality aspect, and interests that the United States (U.S.) holds with the
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The economy of Colombia is based on natural resources, primarily coal and crude oil. Colombia has a gross domestic product (GDP) at the official exchange rate of roughly $274.2 billion US dollars. As a commodity-based economy, there is a direct correlation between Colombia’s GDP and fluctuating coal and oil prices worldwide. Although this connection may seem to negatively impact their GDP, Colombia is an economically stable country when compared to its Latin American counterparts. Only Mexico, Brazil, and Chile have larger import markets from the US. Furthermore, the Pacific Alliance was founded in 2012 to stimulate trading between various Latin countries, including Colombia. Also in 2012, the US established a free trade agreement (FTA) with Colombia. This was significant for Colombia because the US serves as its largest trading partner with 42 percent of its exports and 26 percent of its imports. In addition to oil, mining, and manufacturing, the US also utilizes Colombia for its gold, coffee, and flowers. This does not take into account foreign direct investments (FDIs), especially by the US. The biggest FDI interests from the US are energy, mining, and hydrocarbon projects. Within recent years, technology and computing have excelled in Colombia’s economy like never before. Key technology players, such as Facebook, Microsoft, and Google, have established their presences in Bogotá. Like their economy, much of Colombia’s Constitution aligns with the standards of the US and can be evidenced by other cultural domains, such as religion and
The economy of Colombia is based on natural resources, primarily coal and crude oil. Colombia has a gross domestic product (GDP) at the official exchange rate of roughly $274.2 billion US dollars. As a commodity-based economy, there is a direct correlation between Colombia’s GDP and fluctuating coal and oil prices worldwide. Although this connection may seem to negatively impact their GDP, Colombia is an economically stable country when compared to its Latin American counterparts. Only Mexico, Brazil, and Chile have larger import markets from the US. Furthermore, the Pacific Alliance was founded in 2012 to stimulate trading between various Latin countries, including Colombia. Also in 2012, the US established a free trade agreement (FTA) with Colombia. This was significant for Colombia because the US serves as its largest trading partner with 42 percent of its exports and 26 percent of its imports. In addition to oil, mining, and manufacturing, the US also utilizes Colombia for its gold, coffee, and flowers. This does not take into account foreign direct investments (FDIs), especially by the US. The biggest FDI interests from the US are energy, mining, and hydrocarbon projects. Within recent years, technology and computing have excelled in Colombia’s economy like never before. Key technology players, such as Facebook, Microsoft, and Google, have established their presences in Bogotá. Like their economy, much of Colombia’s Constitution aligns with the standards of the US and can be evidenced by other cultural domains, such as religion and