Industry got off to a strong start in 2019, as domestic consumption and exports rebounded. The national government’s policies to expand successful programmes and do away with under-performing ones, together with a focus on improving productivity and leveraging collaboration between the country’s regions, should help to strengthen industrial capacity. However, while efforts to modernise and reduce…
Interview:José Manuel Restrepo How can Colombia boost international trade? JOSÉ MANUEL RESTREPO: Our strategy to boost productivity includes a push to actively participate in global value chains by capitalising on our free trade agreements and strengthening the country’s export capacity. We are reaching out to business owners across the country to support them in their export development…
Colombia is home to a distinctive blend of ethnicities, cultures and geography, has the second-largest population in South America and is the continent’s fourth-largest country. After spending much of the second half of the 20th century embroiled in the world’s second-longest modern civil war, the 2016 peace accord brought a formal end to the conflict between FARC and the government. The end o
Colombia has a well-established industrial base with a presence in a range of products, from processed foods to vehicle manufacturing. While growth rates for some industrial lines have been robust during the past decade, the economic slowdown experienced in 2016 and 2017 stunted industrial development as a whole during those years, adding to long-standing challenges such as high transportation…
The global economy is entering the Fourth Industrial Revolution (4IR), or Industry 4.0, based on the application of new digital and automated technologies in production processes and service delivery. These changes are bringing emerging markets improved productivity, as well as risks – namely, reshoring and the displacement of human labour by automation. Wealthier emerging markets, such as…
The global economy is entering the Fourth Industrial Revolution (4IR), or Industry 4.0, based on the application of new digital and automated technologies in production processes and service delivery. These changes are bringing emerging markets improved productivity, as well as risks – namely, reshoring and the displacement of human labour by automation. Wealthier emerging markets, such as…
After a stagnant performance in 2017, the retail sector gained momentum in 2018, growing by 6.2%. Inflation was near the central bank’s target at 3.2% during the year, and this combined with the government’s December 2018 decision to increase the minimum salary by 6% for 2019 and general improvements in the country’s economic performance have translated to increased disposable income…
In English Durante los primeros cinco meses del año, las ventas al por menor en Colombia se han incrementado gracias al aumento de la confianza de los consumidores, con un mercado sólido que continúa atrayendo a empresas dedicadas a la construcción de centros comerciales y a minoristas internacionales. Según datos proporcionados recientemente por el Ministerio de Industria y Comercio, entre…
Industry is set to remain an important part of Colombia’s economy, not only for its capacity to create employment, but also for its significant impact on regional development. However, manufacturers face a challenging domestic environment due to fiscal reforms, which are likely to reduce consumer expenditure in 2017. Still, the devaluation of the peso has made the country’s exports more attractive…
Interview:Daniella Souza What are some challenges to the growth of the agro-chemical industry in Colombia, and which areas should be targeted for development? DANIELLA SOUZA: The agro-chemical industry saw a very weak 2016, which implies that there is an enormous opportunity for growth. Some factors that could boost the segment include continued infrastructure development to ease product distribution,…