Industry & Retail
From The Report: Colombia 2019
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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 administrative hurdles are positive steps towards improving performance, regaining momentum in infrastructure development and reducing logistics and transport costs remain economy-wide priorities. Broad trends have buoyed the retail sector in recent years, including the growing number of new shopping malls and the expanding presence of internationally branded stores. The drive to increase IT usage among Colombians has also transformed the country into one of the region’s fastest-growing online retail markets. This chapter contains an interview with José Manuel Restrepo, Minister of Commerce, Industry and Tourism.

Articles from this Chapter

Overview

Turning a corner: Production, sales and exports pick up across the board, while investment in free zones and government programmes continue
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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 costs. However, ongoing efforts to improve logistics infrastructure, coupled with policies to incentivise…

Interview

Aiming for agility: José Manuel Restrepo, Minister of Commerce, Industry and Tourism, on boosting productivity
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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 strategies, taking a micromanagement approach to business, rather than a macro-management way. For…

Analysis

Smart buys: Discount grocers and e-commerce see considerable growth
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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 for some segments of the population. Nevertheless, the recent depreciation of the peso – falling by…

Overview

Into high gear: Economies around the world are preparing for the opportunities and challenges brought about by the next industrial revolution
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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 Gulf states, which have the resources to invest in new technologies, and those with more established manufacturing sectors, such as countries in South-east Asia, appear best placed to reap the benefits of the 4IR. Many of these economies are creating…

Overview

Into high gear: Economies around the world are preparing for the opportunities and challenges brought about by the next industrial revolution
OBG
plus

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 Gulf states, which have the resources to invest in new technologies, and those with more established manufacturing sectors, such as countries in South-east Asia, appear best placed to reap the benefits of the 4IR. Many of these economies are creating…