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Economy of Colombia and business opportunities

Economy of Colombia

Colombia is an upper middle-income economy, and is Latin America's fourth largest and Middle America's second largest economy measured by gross domestic product. Petroleum is Colombia's main export, making over 45% of Colombia's exports. Manufacturing makes up nearly 12% of Colombia's exports, and grows at a rate of over 10% a year. Colombia has the fastest growing information technology industry in the world and has the longest fibre optic network in Latin America. Colombia also has one of the largest shipbuilding industries in the world outside Asia.

Colombia over the last decade has experienced a historic economic boom. In 1990, Colombia was Latin America's 5th Largest economy and had a GDP per capita of only US$1,500, by 2015 it became the 4th largest in Latin America, and the world's 31st largest. As of 2015 the GDP (PPP) per capita has increased to over US$14,000, and GDP (PPP) increased from US$120 billion in 1990 to nearly US$700 billion. Poverty levels were as high as 65% in 1990, but decreased to under 24% by 2015.

Modern Industries like Shipbuilding, Electronics, Automobile, Tourism, Construction, and Mining, grew dramatically during the 2000s and 2010s, however, most of Colombia's exports are still commodity-based. Colombia is Latin America's 2nd largest producer of domestically-made electronics and appliances only behind Mexico. Colombia had the fastest growing major economy in the western world in 2014, behind only China worldwide.

Since the early 2010s, the Colombian government has shown interest in exporting modern Colombian pop culture to the world (which includes video games, music, movies, TV shows, fashion, cosmetics, and food) as a way of diversifying the economy and entirely changing the image of Colombia; a national campaign similar to the Korean Wave. In the Hispanic world, Colombia is only behind Mexico in cultural exports and is already a regional leader in cosmetic and beauty exports.

The number of tourists in Colombia grows by over 12% every year. Colombia is projected to have over 15 million tourists by 2023.

Sectors

Manufacturing

Domestic Appliances

Although Colombia has been producing domestic appliances since the 1930s, it wasn't until the late 1990s that Colombian corporations began exporting to neighboring countries. Colombia also manufacturers for foreign companies as well, such as Whirlpool and GE.LG has also been interested in building a plant in Colombia. Colombia is also Latin America's 3rd largest producer of appliances behind Mexico and Brazil and is growing rapidly.

Electronics

Colombia is a major producer of electronics in Latin America, and is South America's 2nd largest high-tech market. Colombia is also the 2nd largest producer and exporter of electronics made by domestic companies in Latin America. Since the early 2000s, major Colombian corporations began exporting aggressively to foreign markets. In 2014, the Colombian government released another national campaign to help Colombian companies have a bigger share of the national market.

Construction

Construction recently has played a vital role in the economy, and is growing rapidly at almost 20% annually. As a result, Colombia is seeing a historic building boom. The Colombian government is investing heavily in transport infrastructure through a plan called "Fourth Generation Network". The target of the Colombian government is to build 7,000 km of roads for the 2016-2020 period and reduce travel times by 30% and transport costs by 20%. A toll road concession program will comprise 40 projects, and is part of a larger strategic goal to invest nearly $50bn in transport infrastructure, including: railway systems; making the Magdalena river navigable again; improving port facilities; as well as an expansion of Bogotá's airport. Long term plans include building a national high-speed train network, to vastly improve competitiveness.

Agriculture

Agriculture has nevertheless remained an important source of employment, providing a fifth of Colombia's jobs in 2006.Colombia's industries include textiles and clothing, particularly lingerie, leather products, processed foods and beverages, paper and paper products, chemicals and petrochemicals, cement, construction, iron and steel products, and metalworking. Its diverse climate and topography permit the cultivation of a wide variety of crops. In addition, all regions yield forest products, ranging from tropical hardwoods in the hot country to pine and eucalyptus in the colder areas.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Colombia"

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This section contains economy and business opportunities and from Colombia.
Colombia Economy Colombian Economy, business opportunities in Colombia.
Summary:
We Are An Official Educational Institution That Guides The Training Processes Of Children And Young People From Transition To Eleventh Grade, With An In-Depth Study Of Commerce, Through A Student-Centered Methodology, So That They Are Exemplary Citizens, Who Build Their Life Project And Respond To Social Demands With High Academic And Axiological Levels.
Country:
Colombia
Estimated Cost:
COP 812866472
Notice Type:
Procurement Plan
Deadline:
01 May 2025
Posting Date:
02 May 2024
 
 
 
Summary:
It Directs Its Actions Towards The Human Development Of Average Boys, Girls And Young People And Those With Special Educational Needs (Hard Hearing Aid And Mild Cognitive Deficit) Of Locality 9 - Fontibon; For This Reason, It Offers An Academic Education By Cycles, It Articulates Institutional Secondary Education To The Cide (International Corporation For Educational Development), Through The Systems And Informatics Or Business Management Programs, Developing The Pedagogical Model Of Significant Historical-Social Learning. , Aimed At Training Leaders With Productive And Innovative Mindset In Order To Contribute To The Improvement Of Their Quality Of Life.
Country:
Colombia
Estimated Cost:
COP 300750091
Notice Type:
Procurement Plan
Deadline:
30 Apr 2025
Posting Date:
01 May 2024
 
 
 
Summary:
Corponariño, Is A Public Entity That Exercises The Role Of Environmental Authority, Managing Renewable Natural Resources And Protecting The Environment In Compliance With Its Regulatory Mandate And To Benefit The Quality Of Life Of The Population Of The Department Of Nariño. We Project Ourselves As The Leading Entity In The Sustainable Management Of Renewable Natural Resources And The Environment In The Department Of Nariño, Through The Facilitating Role That Convenes, Integrates And Articulates The Participation Of Different Actors And Communities, Generating Impact Through Their Protection And Conservation. Positive To The Environment, In Accordance With The Country'S Commitments, The Particularities Of The Territory And Competent, Innovative And Rigorous Human Talent In The Exercise Of Their Functions.
Country:
Colombia
Estimated Cost:
COP 7180758718
Notice Type:
Procurement Plan
Deadline:
30 Apr 2025
Posting Date:
01 May 2024
 
 
 
Summary:
"Preventive And Corrective Maintenance Of Equipment (Flow Chamber, Precision Scale, Magnetic Stirrers, Autoclave, Electrical System Shelves, Deionizer, Air Conditioning, Phmeters), For The Plant Biotechnology Laboratory Of The Colombian Polytechnic Jaime Isaza Cadavid."
Country:
Colombia
Estimated Cost:
USD 9601600
Notice Type:
Tender Notice
Deadline:
06 May 2024
Posting Date:
01 May 2024
 
 
 
Summary:
"Acquisition Of Equipment (Potentiometer, Refrigerator) For The Execution Of Scheduled Practices In The Plant Biotechnology Laboratory, Located In The Laboratory And Experimentation Center Of The Colombian Polytechnic Jaime Isaza Cadavid."
Country:
Colombia
Estimated Cost:
USD 14141512
Notice Type:
Tender Notice
Deadline:
07 May 2024
Posting Date:
01 May 2024
 
 
 
Summary:
Lta For The Provision Of Accommodation, Food, Transportation And Use Of Event Rooms Services Open New Window
Country:
Colombia
 
Notice Type:
Tender Notice
Deadline:
30 May 2024
Posting Date:
01 May 2024
 
 
 
Summary:
Des - International Consultant For The Mid-Term Review Of Undp-Gef. Open New Window
Country:
Colombia
 
Notice Type:
Tender Notice
Deadline:
13 May 2024
Posting Date:
01 May 2024
 
 
 
Summary:
Adg - Ic - Prospective Vision Proposal Open New Window
Country:
Colombia
 
Notice Type:
Tender Notice
Deadline:
06 May 2024
Posting Date:
01 May 2024
 
 
 
Summary:
Provision Of Services
Country:
Colombia
Estimated Cost:
COP 5000000
Notice Type:
Tender Notice
Deadline:
29 Jun 2024
Posting Date:
30 Apr 2024
 
 
 
Summary:
Carlos Arturo Villa Garcia
Country:
Colombia
Estimated Cost:
COP 3600000
Notice Type:
Tender Notice
Deadline:
15 Jun 2024
Posting Date:
30 Apr 2024