Sustainable v. Development? Mining and Natural Resources Governance in Colombia

  • Olga L. Castillo-Ospina
Chapter
Part of the International Political Economy Series book series

Abstract

Over the past 20 years, Colombia has experienced an overhaul of its production structure, mainly characterised by the exponential increase in the mining and energy sectors, which are dominated by large transnational corporations. Between the second trimester of 2010 and that of 2011, contributions of the mining and oil sector to Gross National Product (GNP) increased significantly (10.3 per cent) compared to other productive sectors. The share to Gross Domestic Product (GDP) of the mining sector alone jumped from 1.8 per cent of the GDP in 2000 to 2.3 per cent in 2010 (MinMinas, 2011).1 Mining investment likewise soared from US$466 million in 2002 to approximately US$3,094 million in 2009 — an increase of 664 per cent over the seven-year period. Similarly, foreign direct investment in the oil sector grew fivefold, rising from US$449 million in 2002 to US$ 2633 million in 2009 — an increase of 586 per cent (CIMCO, 2010: 3). As such, the mining and energy sectors have become the main export commodity for Colombia, representing 55 per cent of total exports in 2009 (an increase from 40 per cent in 2002), in turn replacing traditional exports such as industrial supplies, textiles and clothing, leather products, petrochemicals, iron and steel products, processed food and beverages and consumer goods (including coffee, which represented 14 per cent of the world’s coffee in the early 1990s).

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Copyright information

© Olga L. Castillo-Ospina 2013

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  • Olga L. Castillo-Ospina

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