Colombia

Over the past decade retail has become one of the biggest contributors to economic growth. In 2011 the sector’s contribution to GDP reached 8.1%, largely driven by the increasing size and wealth of Colombia’s middle class, greater access to financing and an inflow of foreign retailers. The arrival of foreign competitors with high levels of funding, innovation and efficiency has contributed to the...

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...

The construction sector has experienced consistent expansion in the past few years, registering 3.6% growth in 2012. While this figure is significantly lower than the 10% growth registered in 2011, prospects for 2013 suggest the sector will regain momentum driven primarily by aggressive government spending programmes aimed at closing the gaps in infrastructure and housing. Likewise, the real...

Colombia’s transportation network, currently a competitive disadvantage for the country, ranks poorly even by regional standards. Decades of under-investment and security concerns have created significant logistical complications, pushing up the duration and cost of domestic shipments, which has recently been exasperated by the high cost of fuel, particularly diesel. Budget allocations for...

The government plans to implement heavy spending programmes to address Colombia’s severely deficient infrastructure network, a result of a rugged topography and decades of corruption, militancy and shifting government priorities. The Santos administration, which identified infrastructure development as a key pillar of its inclusive economic development policy, has committed to increasing...

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...