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 Industry
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Chapter | Industry & Retail from The Report: Colombia 2014
As the significantly divergent performances of its various sub-sectors suggest, Colombian industry is at a crossroads. Some sub-sectors have sustained robust growth during the past decade and have developed export channels targeting regional markets. However, other industries have not been able to overcome the number of challenges that nearly all Colombian manufacturers must contend with, in...
With vast coal, gold and other mineral reserves, Colombia continues to be one of Latin America’s leading mining countries. The sector has expanded significantly in the past decade, with the last two governments emphasising its importance to the national economy and courting foreign investment. However, in recent years falling commodity prices have stalled development projects, while strikes,...
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.
Weaker international demand and increasing foreign competition have caused the output of the industry sector to fall 0.7% in 2012, limiting its contribution to GDP to 12%. Traditional industries as well as the manufacturing of vehicle parts and their assembly have been hit the hardest. Nonetheless, some segments, such as fast-moving consumer goods, continue to display potential. Colombia’s shift...
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