Despite continuing external headwinds, in particular the significant drop in the price of oil since mid-2014, the Colombian economy remained resilient in 2015, expanding by 3.1%.
Colombia Energy
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Chapter | Energy & Utilities from The Report: Colombia 2014
In the past 10 years, Colombia has emerged as one of Latin America’s leading hydrocarbons producers. With just over 1m barrels per day of production in 2013, Colombia trailed only Mexico, Venezuela and Brazil in the region. On a relative basis, natural gas production, at 1.2bn cu feet per day, is more modest, but has also grown every year but one since 2003. With one of the lowest reserves-to-...
Despite instability associated with the global mining and hydrocarbons sectors, Colombia displays stable economic growth amidst a regional slowdown, in large part a result of economic liberalisation, free trade agreements and entry to a variety of trade blocs. After recording 6.6% growth in 2011 and 4% in 2012, Colombia saw a slowdown in the first half of 2013, but the economy regained momentum by the end of the year.
The past decade has seen something of a reawakening for the mining industry, as improved security and political support have resulted in increased investment and mineral production. While still a relatively small percentage of the wider economy, revenues from mining exports have risen dramatically over the past decade. Mining activities expanded 6.3% in 2012, largely thanks to the 19% expansion...
Chapter | Energy & Utilities from The Report: Colombia 2013
The energy sector reached a milestone in 2012 as crude oil production surpassed 1m barrels per day. Colombia’s current generation capacity of 14,420 MW is supplied primarily by hydroelectric power, which accounts for just over two-thirds of the total, with the remainder coming primarily from natural gas- and coal-fired thermoelectric plants. Since 2008 natural gas production has seen private...
Outperforming the majority of its regional peers, Colombia has experienced steady economic growth in the past decade registering GDP growth averaging over 4%, a rate set to continue in 2013.
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