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MARKET BRIEFING – COLOMBIA

Andina-Pack 2013 International Packaging exhibition held in Bogota
A view of the capital-Bogota

OVERALL ECONOMIC SITUATION
Colombia is located in north-western South America, neighbouring Venezuela and Brazil on the east, Ecuador and Peru to the south Panama on the north-west, the Caribbean Sea to the north and the Pacific Ocean to the west. It is an agricultural country with a long history of coffee production. The GDP growth rate has been stable since the 1980’s and remains between 3%-6%. Colombia is rich in natural resources with major mineral reserves including coal, petroleum and emeralds and possesses the largest emerald reserves in the world. Detected coal reserves amount to 7.64 billion tonnes which ranks first in Latin America.

BUSINESS OPPORTUNITIES
Industries
Industries are mainly manufacturing. Mining industries include petroleum, coal, gold, emeralds, uranium, nickel, bauxite, iron and platinum. The petroleum industry has been growing rapidly since the 1980’s and has become the country’s biggest industry.

Agriculture
Arable land totals 4.67 million hectares, making up of 8.5% of the total area of the country. Colombia is the second largest exporter of flower, their exportation of bananas and coffee ranks third in the world.

Service Industry
The service industry is developing rapidly. Major sectors include electricity, gas and water supply, restaurants and hotels, finance departments, as well as community and social and individual services.

Tourism
Colombia is one Latin America’s major holiday destinations. Major tourist attractions include Bogota, Cartagena, Medellin, Cali, Santa Marta, San Andres, Barranquilla and Cúcuta.

MAIN ECONOMIC INDICATORS 2012
Gross Domestic Product(US$ billion) 497.3
Real GDP growth (%) 4
GDP per capital (US$) 10,700
Inflation (%) 3.2
Land area (sq km) 1,138,910
Population (Million) 45.7

Source: CIA-The World Factbook, https://www.cia.gov/library/publications/the-world-factbook/geos/co.html

FOREIGN TRADE FORM 2008 TO 2012

(unit: Us$ Billion)
Year Total Trade Exports Imports
2012 113.73 59.96 53.77
2011 110.92 56.22 54.7
2010 76.5 40.24 36.26
2009 65.51 34.03 31.48
2008 76.11 38.55 37.56

Major Export Commodities: petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas, apparel
Main Import Commodities: industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity

Source:
1.CIA-the World Factbook, https://www.cia.gov/library/publications/the-world-factbook/geos/co.html
2.Index Mundi-Country Fact, http://www.indexmundi.com/colombia/

Main Destinations for Exports (2012) %
US 36.6
China 5.5
Spain 4.8
Panama 4.7
Venezuela 4.4
Netherlands 4.1
Main Origin for Imports (2012) %
US 24.2
China 16.3
Mexico 10.9
Brazil 4.8

Source: https://www.cia.gov/library/publ … ctbook/geos/co.html

MAINLAND CHINA – COLOMBIA

(US$100 million)
Year Total Exports Imports
2012 93.84 62.29 31.55
2011 82.3 58.4 23.9
2010 59.15 38.2 20.95

Source:
1. Ministry of Commerce of the People’s Republic of China, http://mds.mofcom.gov.cn/article/Nocategory/

MACAO-COLOMBIA BILATERAL TRADE JAN-NOV 2013

Type of Trade Weight (KG) Patacas
Imports 84,609 4,367,075
Exports 1,175 169,619

Source: The Statistics and Census Service, http://www.dsec.gov.mo/

SOURCE:
1. The Ministry of Foreign Affairs of the People’s Republic of China
http://www.fmprc.gov.cn/chn/default.htm
2. The Ministry of Commerce of the People’s Republic of China
http://zhs.mofcom.gov.cn/
3. The Economic and Commercial Counselor’s Office of the Embassy of the
People’s Republic of China in the Republic of Colombia
http://co.mofcom.gov.cn/
4. The Statistics and Census Service
http://www.dsec.gov.mo/
5. The World Factbook
http://www.cia.gov/

MAJOR WEBSITE RECOMMENDATIONS:
http://www.presidencia.gov.co/