1.the transformation of the Colombian economy from the 1970’s has been the expansion of the mining sector, mostly comprised of oil production and coal. 2. Colombia’s main oil export market is the U.S. with 332,000 barrelys in 2000.
Which is in decline from its peak in the 70’s-80’s. 3.(major event) The success of Coffe in the 50s’ brought about swift industrialization and urbanization, as well as the transportation network. 4. Before the transportation network, manufacturing was based on local industries with little ties to regional businesses. 5. 1950-1967 follows program of import substitution to lessen reliance on imports. 6. after 1967 planners in government and industry focus on export promotion. 7.1967-1980 sustrained growth of ecnonomy aided by big workforce, big investments, and increased productivity. 8. (Major Event) In 1990, the administration of President César Gaviria Trujillo (1990–94) initiated economic liberalism policies or "apertura economica" and this has continued since then, with tariff reductions, financial deregulation, privatization of state-owned enterprises, and adoption of a more liberal foreign exchange rate. Almost all sectors became open to foreign investment although agricultural products remained protected 9. Hydroelectric potential was developed during the 1970s and 80s 10.After being a relatively successful growth performer between 1950 and 1980, Colombia’s economic growth decelerated considerably after 1980.
B.Colombia's economy retained its