Colombia No Longer a Narco-Economy: Govt

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The drug trade now makes up a decreasing share of Colombia’s economy, according to the country’s national statistics agency.

The percentage of Colombia’s GDP constituted by the cultivation of illegal drugs fell from 1.7 percent in 2000 to 0.4 percent in 2010, statistics agency DANE said in a report.

The worth of this sector fell from 3.56 trillion pesos ($1.87 billion) in 2000 a $2.27 trillion ($1.19 billion) in 2010, adjusted to the value of the peso in 2010, according to the report.

DANE director Jorge Bustamante said that “In relative terms Colombia is de-narcotizing, from the point of view of the legal and illegal economy.”

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