A Universidad EAFIT study says Colombia's illegal gold moves about US$3.5 billion a year, now comparable to the country's coffee exports.
Economy: Bogotá
Key Facts
—Scale. A Universidad EAFIT study estimates Colombia’s illegal gold economy moves about US$3.5 billion a year and generates roughly US$3 billion in added value, about 0.8% of GDP.
—Comparison. That size is comparable to Colombia’s coffee exports and equal to about a third of the cocaine economy, the researchers say.
—Laundering. The study finds around 72% of Colombia’s ‘legal’ gold exports are actually illegally sourced metal that gains legal paperwork before shipping.
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