Chemicals are substances that have a distinct molecular composition and are typically produced through various chemical processes. Chemicals can be grouped based on their molecular composition and structural characteristics. The Middle East is home to large-scale petrochemical complexes that produce a wide range of petrochemicals, including ethylene, propylene, polyethylene, polypropylene, methanol, ammonia, and more. The chemical industry refers to the sector of the economy that is involved in the production, manufacturing, and distribution of chemicals and chemical products. Colombia's economy is classified as a middle-income, emerging market economy that has seen steady growth over the past decades. Its key sectors include oil, mining (notably coal and gold), agriculture (with coffee, bananas, and flowers being major exports), manufacturing, and services. Colombia has adopted open-market policies, implementing free trade agreements (FTAs) with numerous countries and regions, including the U. S. , the EU, and countries in Latin America. Colombia's fiscal policy is geared towards encouraging foreign direct investment (FDI), promoting exports, and diversifying its economy beyond dependence on natural resources.
