− The GDP per capita has increased from USD 4,674 in 2007 to USD $7,526 in 2016.
− Colombia is currently the third most business-friendly country in Latin America, the greatest reformer in the region and the number one country for investor protection.
− With 13 Free Trade Agreements and 23 Investment Agreements, Colombia exports to 181 countries with 9700+ exporter companies.
− 300 municipalities are connected by a fiber-optic ring internet network
− With almost 47.6 million inhabitants, Colombia is the third largest country in Latin America, 24th in the world in terms of population, and the second largest Spanish-speaking nation in the world.
− Easy access to global markets: 850 direct international flights per week, 4900 domestic flights per week with over 32 airlines currently operating in Colombia. Located in the center of 5 time zones, including the international business hubs of New York, Toronto, and Miami.
− Sector opportunities in Oil, BPO, Equity Funds, Infrastructure, Hotel & Tourism, Logistics, Software, IT, Automotive, Cosmetics & Toiletries, Construction, Metalworking, Fashion & Confectionary, Biofules, Beef, Horticulture, Dairy.
− 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.
Latest Colombia Economic Indicators:
– GDP $282 USD Billion
– GDP Growth Rate 0.8%
– GDP Per Capita $7,526 USD
– Unemployment Rate 8.4%
– Inflation Rate 4.1%
– Interest Rate 4.8%
– Balance of Trade $-0.98 USD Billion
– Stock Market 1570 points