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Columbia country report

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Agriculture represents 8.5% of the GDP and employs more than 18% of the active population.
Due to the climate and the topography of the country, agriculture is extensive and very varied, and contributes to 75% of the export revenues.
Colombia's main crops are coffee, bananas, cut flowers, cotton, sugarcane, livestock, rice and corn.
The cultivated lands hardly take up 8% of the country's total surface area. Colombia has also many natural resources such as coal, oil, natural gas, iron ore, nickel and gold.
Industry represents around 36% of the GDP and employs nearly 20% of the population.
Colombia's main industries are textile, chemical products, metallurgy, cement, cardboard containers, plastic resins and beverages.
Colombia's main economic sector is the services sector, which represents more than 55% of the GDP and employs nearly 60% of the active population.

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Columbia country report

  1. 1. Main Industry SectorsEconomic OverviewForeign Direct Investment [FDI]FDI Government MeasuresCountry Strong PointsCountry Weak PointsForeign Trade Overview
  2. 2. Agriculture represents 8.5% of the GDP and employs more than 18% of the active population. Due to the climate and the topography of the country, agriculture is extensive and very varied, andcontributes to 75% of the export revenues. Colombias main crops are coffee, bananas, cut flowers, cotton, sugarcane, livestock, rice and corn. The cultivated lands hardly take up 8% of the countrys total surface area. Colombia has also manynatural resources such as coal, oil, natural gas, iron ore, nickel and gold. Industry represents around 36% of the GDP and employs nearly 20% of the population. Colombias main industries are textile, chemical products, metallurgy, cement, cardboardcontainers, plastic resins and beverages. Colombias main economic sector is the services sector, which represents more than 55% of the GDPand employs nearly 60% of the active population.
  3. 3. After two consecutive years of a growth rate higher than 6%, Colombias economy had toendure the effects of the global economic crisis (collapse in prices of exportproducts, reduction of the American demand) and recorded a growth of 0.8% in 2009. The growth revived vigorously in 2010 (4.7%) supported by the increase on publicexpenses favoring investment and consumption. The authorities have taken measures to preserve the public finances (in a chronicdeficit), mainly by imposing restrictions in issuing bank credits and by keeping the stabilityof the macro-economic indicators.
  4. 4. Columbia new government of president Santos has launched an ambitious program ofreforms aiming to reinforce taxes, to improve the management of territorial income drawnby royalties, to increase competitiveness and to control the Peso appreciation. The fight against poverty and the development of real estate are also part of thepriorities. Under the effect of the crisis, the unemployment rate reached 12% of the activepopulation, and more than half of the Colombian people continue to work in the informalsector. The purchasing power of Colombians has decreased, the rise in the cost of living isaround 7.5%. The poverty level remains high (45%), inequalities are strong and despite the retreat ofthe guerrillas, the internal conflict persists, which was the origin of the expatriation of morethan 3 million persons.
  5. 5. The improvement of the security conditions during these recent years has contributed to re-establish investors confidence. FDI inflows have attained a record level in 2008. Despite a slowdown of FDI flows in 2009 due to the global economic crisis, foreign investorsremain present in Colombia. The two main destinations of FDI are the hydrocarbon and mining sectors, but adiversification of FDI has been observed in the last recent years. The negotiations that Colombia has done by signing free-trade agreements and theestablishment of special regulations in the free zones have contributed to improve the countrysappeal. The richness of its natural resources, a significant domestic market, an open and stable legalframe and its reputation as an exemplary debtor are some of Colombias major assets.
  6. 6. The Colombian government is reaping the fruits of the policy it implemented to securedemocracy, whose objective is to create favorable economic conditions in order to onceagain, give investors confidence, especially foreign investors. The government has put efforts into concluding free trade agreements, namely through anassociation agreement as well as a series of agreements in the area of investments in theEuropean Union, aimed at developing a stable and transparent economic environment inwhich contributions in capital can prosper.
  7. 7. Colombia’’a main strong points are: Its economic stability: Despite the crisis, the government was able to maintain its growth at 2.5%; Its political stability: Contrary to what is believed, Colombias democracy is the oldest and most stable on the South American continent;Recovered foreign investor confidence: Foreign investment increased significantly and reached USD 6.295 million in 2006. More than 700 multinational companies launched investment programs in Colombia;Qualified and competitive human resources: Colombian workers are amongst the best qualified in Latin America. In effect, the country has a very good education system and the literacy rate is around 95%; A Strategic Geographic Location: Colombia is a strategic point between the different markets of the region. The country has modern port facilities on both the Pacific and the Atlantic oceans, which facilitates trade with European countries, the United States, or Asian countries;Its status as an export platform: Through various free trade agreements it has made, Colombia has access to a market of almost 1,200 billion people; Numerous development centers; Infrastructures which are both numerous and modern.
  8. 8. Although a sharp improvement was noted regarding security matters, violence remains thecountrys principle weak point. Colombia is also the primary producer of coca in the world. Commercial risk is ranked at C, which is a very high level.
  9. 9. Colombias foreign trade represents about one third of the GDP. Colombia has signed trade agreements with Chile, the CAN countries (AndeanCommunity), MERCOSUR countries, Central American and Caribbean countries, and the EuropeanUnion. It has also signed free trade treaties with Chile, Guatemala, Honduras, ElSalvador, Canada, Mexico, Switzerland, Norway, Iceland, Liechtenstein and the United States. The country mainly exports oil, coal, coffee, flowers, textile products, ferronickel, bananas andchemical products. Its main clients are the United States, Venezuela and the Netherlands. Imports are constituted mainly of machinery and equipment, grains, chemical products, transportequipment, electric and electronic equipment. Colombias main suppliers are the United States, China, Mexico and Brazil. Colombias trade balancehas seen its surplus increase in 2010. The political tensions with Venezuela, who penalizes Colombian exports, could always play anegative role in this balance surplus.
  10. 10. Visit us to download for related reportsMarket Opportunities of products and Services in Columbia.Export and investment sector opportunities in Columbia.Overview of Trade Regulations, Customs and Standards Columbia.Columbia Investment guide for beginners.Business and Project Financing in Columbia.Business Travel Advisory in Columbia.
  11. 11.  China  Australia Mexico  Germany United States  France India  Spain Canada  South Korea Russia  Vietnam Hong Kong  Saudi Arabia Colombia  Poland Brazil  South Africa Turkey  Nigeria Indonesia  Argentina Egypt  UAE Singapore  Netherland United Kingdom  Sweden Italy  Thailand Japan  Israel and more…. Buy 2 reports get 1 report FREE
  12. 12. International Market Research Report on 300+ topics over 100 countries Instant online Delivery Need additional reports ? Market Share Distribution and business practices Market Size Statistical data Market Trends End user analysis Market access Import and Export strategies information Market Analysis Competitions Domestic production Best sales prospects Tariffs and Trade shows and regulations contact points
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