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WEEKLY NEWSLETTER
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Colombia
Index
Colombia's heterogeneous service sector grew steadily
over the
three decades ending in 1986. Encompassing both public and
private
enterprises, the service sector grew to nearly 51 percent
of GDP by
1987 and captured a similar portion of the employment
market. The
expansion of the service sector coincided with a decline
in the
relative importance of the agricultural sector, an
indication of
Colombia's economic development.
By 1987 Colombian services had expanded to include
private
enterprises such as banks, transportation, communications,
commerce, hotels, and restaurants, as well as public
sector
services, which also included some financial institutions
and
transportation firms, in addition to utilities, public
services,
and other government activities. There was a strong
private sector
component in Colombian services, but because of direct
government
operation and regulatory control, most services were
subject to
government scrutiny. Banking and air transportation, for
example,
were considered public services regardless of the type of
ownership; as such, they were watched closely by the
state.
Data as of December 1988
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