According to Bloomberg, Pacific Alliance countries of Mexico, Chile, Peru and Colombia “are projected to have GDP growth in the range of 3 percent from 2017—2020, compared to 1.6 percent, on average, for G7 nations“
The combined big data and analytics market of Brazil, Mexico and Colombia, generated revenues of USD $538 millions in 2015. It is expected to reach USD $2 billion by 2020 (Frost & Sullivan)
Colombian economy is forecasted to grow 3% in 2018 and 2019, above the 1.1% average for Latin America, according to OECD.
Reduced corporate taxation, the peace agreement currently executed, better financing conditions and new infrastructure projects will boost investment.
Inflation has stabilized within the 2 – 4% target and monetary policy is project to maintain neutral.
The medium-term goal is to reduce the deficit to 1% of GDP by 2022 in line with the fiscal rule
In the period 2017 to 2019, a recovery in economic growth is expected, driven by the recovery of non-oil exports and oil prices, and the 4G infrastructure program.
According to IMF, Colombia´s potential growth is likely to moderate to a range of 2.8 to 4.1 during 2018-2019, considering the current low oil prices.
Colombia is the 37th member of the OECD signaling economic stability, transparency and government discipline.
According to UNCTAD´s 2018 World Investment Report, Colombia is part of the 30 destinations for Foreign Direct Investments.
With 105 Free Trade Zones, Colombia represent opportunities for 3rd countries to take advantage of the country´s trade agreements. These agreements has access to 60 countries and more than 1.5 billion consumers in the network.
Latest Colombia Economic Indicators:
GDP $282 USD Billion
GDP Growth Rate 3.5%
GDP Per Capita $7,526 USD
Unemployment Rate 9.1%
Inflation Rate 3.4% in 2019 (within National Bank target)