Closely tracking patterns in the general economy, the construction sector expanded by 3.6% in 2012, significantly lower than the 10% gain in 2011. Even so, prospects for 2013 suggest the sector will regain momentum, driven by aggressive government spending programmes aimed at closing wide gaps in infrastructure and housing. Contributing 6.3% to GDP...
By far the most popular sectors for foreign direct investment in 2012, oil and mining have seen a number of successful business ventures, contributing significantly to the country’s overall economic development. This has boosted the potential for an array of other industries further downstream, such as petrochemicals, which provides a very promising...
It is indisputable that international investors have their eye on the Colombian Pacific coast, due to the enhancement of port infrastructure required by increased trade with Asia and the Pacific coast of the Americas. Indeed, Buenaventura Port, which already handles 60% of the cargo entering or leaving Colombia, is the subject of substantial...
Coffee has traditionally been the most important cash crop in Colombia, accounting for 50% of agricultural exports. Its Arabica type is recognised as one of the world’s highest quality coffees, earning itself a benchmark on international commodity exchanges where buyers pay a handsome premium for it. The country’s location near the equator, its...
Sustained macroeconomic growth in expanding uppermiddle-income countries such as Colombia depends on various of factors, one of which is the improved productivity of the internal economy. Economic efficiency in turn hinges on another set of factors, mainly the widespread deployment of infrastructure and the urbanisation of the population. What...
A common complaint among Colombian transporters is that bringing goods from Bogotá or Medellín to the port of Buenaventura is more expensive than shipping it to or from Tokyo. High transportation costs have become so institutionalised that they are often likened to a 10% to 15% tax. While Colombia’s geographical layout has always been challenging to...
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