World oil, currency, and labor markets
The economy of our country depends on the dollar, since due to their low prices the state must find ways to increase their income with other activities. This in turn increases the price of the dollar and makes us more opportunities to export products and increase profits. Besides that, the price of oil is a determining factor in the world economy as it generates changes in the value of currencies, especially the dollar.
The graph shows the change of the dollar:
Taken from: http://es.investing.com/currencies/usd-cop-chart
We see coming from very high to relatively low prices. This affects the agricultural industry as it is more difficult for them to export and make a profit, and therefore for us because the cost and input price increases. (investing.com Español, 2016).
Another factor affecting our business is labor. According to the next graph, the unemployment rate has significantly decreased the last decade:
Taken from: http://www.banrep.gov.co/economia/pli/bie.pdf
This indicates that there is less labor available, but a good figure in relation to growth. (Boletín de Indicadores Económicos, 2016)
BIBLIOGRAPHY
investing.com Español. (2016). USD COP Gráfico - Investing.com. [online] Available at: http://es.investing.com/currencies/usd-cop-chart [Accessed 22 Aug. 2016].
Boletín de Indicadores Económicos. (2016). [online] Available at: http://www.banrep.gov.co/economia/pli/bie.pdf [Accessed 22 Aug. 2016].