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-...
Since the 1990s Colombia’s insurance sector has grown faster than overall GDP, driven by personal lines and social security. The industry recorded 11.3% growth in assets to end 2013 with $21.4bn, up from $19.2bn in 2012, while total written premiums reached $9.45bn, an 18% increase compared to the previous year, which had ended with $8bn. Investments held by the sector also rose from $13.7bn...
In recent years the Colombian Stock Exchange (Bolsa de Valores de Colombia, BVC) has made significant efforts to increase investment options and expand the capital markets, including the creation of the Colombian Global Market (Mercado Global Colombiano, MGC) and the derivatives market, incorporation into the Integrated Latin American Market (Mercado Integrado Latinoamericano, MILA), and the...
The past decade has seen the Colombian banking sector expand against a backdrop of economic growth, improved security and macroeconomic stability. An emerging middle class in need of financial services has fuelled the rise in banking penetration. Although accessing financing has often been a struggle for low-income households and micro-businesses, a fresh influx of microcredit and mobile...
Despite the global vagaries of the mining business and potential volatility in hydrocarbons, a combination of economic liberalisation, free trade agreements and entry to a variety of trade blocs has assured steady growth for Colombia over the past few years. After expanding 6.6% in 2011 and 4% in 2012, Colombia’s economy experienced a slowdown during much of the first half of 2013, registering...
In just a decade, advances in the fight against insurgent groups, coupled with long-term policies that have generated confidence among investors, have radically changed the way the world looks at Colombia. On the political front, the government of President Juan Manuel Santos Calderón has maintained a dialogue over the past 18 months with the Revolutionary Armed Forces of Colombia, with hopes...
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