Foreign investment
During 1998, foreign investment
flows to Colombia reached US$2.9 billion, US$3.2 billion lower than in 1997. This
reduction is associated with the lower capital flows directed to the electrical sector
(US$2.1 billion), to the financial system (US$551 million) and to the oil sector (US$304
million). The reduction in foreign investment directed at the electrical sector is
explained by the intense privatization activity of 1997, which accounted US$2.3 billion,
while in 1998, the contributions of this sector to foreign investment fell by US$512
million. The largest direct investments were channeled to the electrical and gas sector,
to the manufacturing sector and to the financial sector. On the other hand, portfolio
investment fell from US$593 million in 1997 to US$-265 million in 1998. For 1999, it is
expected that foreign investment will amount US$3.5 billion.
FOREIGN INVESTMENT
|
Foreign
Investment 1/ US$ millions
FOREIGN
INVESTMENT |
1988 |
1989 |
1990 |
1991 |
1992 |
1993 |
Total |
202,8 |
576,2 |
500,5 |
456,9 |
794,7 |
1.104,7 |
Direct |
202,8 |
576,2 |
500,5 |
456,9 |
728,7 |
959,7 |
Oil |
165,6 |
359,5 |
269,6 |
264,1 |
439,6 |
557,3 |
Other sectors |
37,2 |
216,7 |
230,9 |
192,8 |
289,1 |
402,4 |
Portfolio |
- |
- |
- |
- |
66,0 |
145,0 |
FOREIGN
INVESTMENT |
1994 |
1995 |
1996 |
1997 p |
1998 p |
|
Total |
1.922,0 |
1.124,7 |
3.365,0 |
6.166,8 |
2.927,4 |
|
Direct |
1.444,0 |
960,0 |
3.072,8 |
5.574,3 |
3.192,4 |
|
Oil |
133,0 |
143,0 |
771,5 |
366,8 |
62,8 |
|
Other sectors |
1311,0 |
817,0 |
2.301,3 |
5.207,5 |
3.129,6 |
|
Portfolio |
478,0 |
164,7 |
292,2 |
592,5 |
-265,0 |
|
|
p:
Provisional.
1/ Since 1994, the statistics correspond to the new Balance of
Payment measure, according with the Balance of Payment Methodology of the International
Monetary Fund Balance of Payment Manual 5th Edition.
Source: Banco de la República - International Exchange and Economic Studies
Department. |
