Historically an agrarian economy, Colombia urbanised rapidly in the 20th century, by the end of which just 17% of the workforce were employed in agriculture, generating just 6.1% of GDP; 21% of the workforce were employed in industry and 62% in services, responsible for 37.3% and 56.6% of GDP respectively.
Colombia's market economy grew steadily in the latter part of the 20th century, with gross domestic product (GDP) increasing at an average rate of over 4% per year between 1970 and 1998. The country suffered a recession in 1999 (the first full year of negative growth since the Great Depression), and the recovery from that recession was long and painful. However, in recent years growth has been impressive, reaching 6.9% in 2007, one of the highest rates of growth in Latin America. According to International Monetary Fund estimates, in 2012 Colombia's GDP (PPP) was US$500 billion (28th in the world and third in South America).
government expenditures account for 28.3 percent of the domestic economy. Public debt equals 32 percent of gross domestic product. A strong fiscal climate was reaffirmed by a boost in bond ratings. Annual inflation closed 2015 at 6.77% YoY ( vs. 3.66% YoY in 2014). The average national unemployment rate in 2015 was 8.9%, although the informality is the biggest problem facing the labour market ( the income of formal workers climbed 24.8% in 5 years while labor incomes of informal workers rose only 9%). Colombia has Free trade Zone (FTZ), such as Zona Franca del Pacifico, located in the Valle del Cauca, one of the most striking areas for foreign investment.
==Pamahalaan at pulitika==