Industry got off to a strong start in 2019, as domestic consumption and exports rebounded. The national government’s policies to expand successful programmes and do away with under-performing ones, together with a focus on improving productivity and leveraging collaboration between the country’s regions, should help to strengthen industrial capacity. However, while efforts to modernise and...
Colombia Industry
Chapter | Industry & Retail from The Report: Colombia 2019
Since the drop in commodity prices in 2014, Colombia’s economy has been recovering and is set to expand in 2019 and 2020. In May 2018 Colombia was invited to become the 37th member of the OECD, a positive development that should increase the country’s international political and economic prominence in the coming decades. However, challenges to ensuring Colombia’s continued economic progress remain.
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With broad political support and efforts to improve the licensing process, the mining industry looks set to experience a rebound in 2019. While...
Since the drop in commodity prices in 2014, Colombia’s economy has been recovering and is set to expand in 2019 and 2020. In May 2018 Colombia was invited to become the 37th member of the OECD, a positive development that should increase the country’s international political and economic prominence in the coming decades. However, challenges to ensuring Colombia’s continued economic progress remain.
Chapter | Industry & Retail from The Report: Colombia 2017
Industry is set to remain an important part of Colombia’s economy, not only for its capacity to create employment, but also for its significant impact on regional development. However, manufacturers face a challenging domestic environment due to fiscal reforms, which are likely to reduce consumer expenditure in 2017. Still, the devaluation of the peso has made the country’s exports more...
Following a landmark peace agreement and a late-2016 tax reform package, 2017 looks to be a year of significant promise for Colombia. The country has been in recovery since the 2014 collapse in oil prices, which predominantly affected exports, government revenues and the exchange rate. However, with the external sector acting as a shock absorber, the authorities helped ensure that domestic demand was able to pick up some of the slack.
Chapter | Industry & Retail from The Report: Colombia 2016
Largely cut off from foreign investment during the 1980s and 1990s due to security concerns, Colombia developed a wide variety of local manufacturing businesses and brands. However, the opening of the economy over the past decade has forced local firms to compete with international imports. Moreover, the rapid growth of the oil and mining industries has shrunk manufacturing’s importance in the...
Colombia’s mining industry continues to feel the effects of the recent drop in commodity prices, particularly of gold. Gold production remains high, having risen by 7.7% to 519,472 oz in the third quarter of 2015, according to the National Mining Agency. Moreover, two new major gold projects received environmental permits in 2015 and are expected to add 60,000 oz and 450,000 oz, respectively,...