Mining, manufacturing, and utilities contributed 25.4% to the gross value added (GVA) in 2023, followed by financial intermediation, real estate and business activities (19.3%), and wholesale, retail, and hotels (15.1%). In nominal terms, the three segments are forecast to grow by 8.3%, 7.6%, and 7.9%, respectively, in 2024.
Bogota, Cali and Medellin are among the best performing cities of Colombia. These areas contributed 33.8% of GDP and comprised 33.7% of Colombia’s population in 2023.
The overall COLCAP Index exhibited a volatile trend over past year. As of May 24, 2024, the index stood at 1,406.4, compared to 1,110.7 on May 24, 2023.
Bogota, Cali and Medellin are among the best performing cities of Colombia. These areas contributed 33.8% of GDP and comprised 33.7% of Colombia’s population in 2023.
The overall COLCAP Index exhibited a volatile trend over past year. As of May 24, 2024, the index stood at 1,406.4, compared to 1,110.7 on May 24, 2023.
Scope
- Macroeconomic Country Outlook Reports evaluate a country's investment potential through its political, economic, social, technological, legal, and environmental (PESTLE) framework. This comprehensive analysis offers a holistic view of the economy, serving as a strategic tool to understand market dynamics, business potential, and operational direction. Each PESTLE factor is examined based on four parameters: current strengths, current challenges, future prospects, and future risks. These insights support strategic planning by highlighting opportunities and risks within the economy, helping businesses and investors make informed decisions. The report aims to provide a detailed understanding of the country's macroeconomic environment to facilitate effective decision-making and strategy development.
Reasons to Buy
- Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
- PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
- Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
- This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.
Table of Contents
- Did You Know?
- Country Highlights
- Key Economic Updates
- Country Snapshot
- Political Landscape
- Economic Landscape
- Social Landscape
- Technological Landscape
- Legal Landscape
- Environmental Landscape
- Outlook
- Exhibit 1: Colombia's performance in country risk analysis in comparison to Latin America and World average
- Exhibit 2: Performance overview (Score: 0-100)
- Exhibit 3: Broad categories and weights behind the index
- Exhibit 4: COLCAP Index
- Exhibit 5: Key sectors’ contribution to the economy
- Exhibit 6: FDI inflows and FDI inward stock (2018-22)
- Exhibit 7: Greenfield FDI projects and net cross border M&A deals (2018-22)
- Exhibit 8: Key infrastructure indicators
- Exhibit 9: Real GDP and household consumption growth rate (2019-26f)
- Exhibit 10: Real GDP growth rate comparison (2023)
- Exhibit 11: Volume of exports and imports growth (2019-26f)
- Exhibit 12: Current account balance (2019-26f)
- Exhibit 13: Top three commodity exports, % of total exports (2018-22)
- Exhibit 14: Mineral fuels, mineral oils and products of their distillation exports, % of world total (2022)
- Exhibit 15: Interest rates (April 2020 - April 2024)
- Exhibit 16: Exchange rate and inflation (2019-26f)
- Exhibit 17: General government deficit (2019-26f)
- Exhibit 18: General government debt (2019-26f)
- Exhibit 19: Unemployment rate (2019-26f)
- Exhibit 20: Labor cost index (2019-26f)
- Exhibit 21: Average annual wages (2019-26f)
- Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)
- Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025f)
- Exhibit 24: Gender split (1995, 2005, 2015, 2025f)
- Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2023)
- Exhibit 26: Number of patents granted per million population (2022)
- Exhibit 27: High-technology exports, % of manufactured exports (2022)
- Exhibit 28: Rule of law index (rankings) (2023)
- Exhibit 29: Corruption perceptions index (rankings) (2023)
- Exhibit 30: Renewable energy capacity (2018-23)
- Exhibit 31: CO2 emissions (2018-22)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- UNICO
- Bancolombia
- Auteco
