Colombian economy

Foreign Direct Investment in Colombia Jumps 25% Year-on-Year; Exports Hit Record

Medellin Herald March 4, 2020

Colombia’s Ministry of Commerce, Industry and Tourism (“MinCIT”) announced March 3 that Colombia’s exports of goods and services in 2019 hit a record US$25.29 billion, while foreign direct investment (FDI) in Colombia soared 25.6% year-on-year, to US$14.49 billion. FDI in the commerce,

Colombian economy

Colombia’s Continuing Economic Growth Outshines Nearly All of Latin America

Medellin Herald December 19, 2019

A just-released December 2019 study by the United Nations Economic Commission for Latin America and the Caribbean (CEPAL in Spanish initials) finds that Colombia not only outstripped nearly all of Latin America in 2019 economic growth but also is likely to continue the trend in 2020. According to the study, “Preliminary Overview of the Economies […]

Colombian economy

Colombia Inks Deals to Boost Banana, Avocado, Coffee, Meat Exports to China

Medellin Herald July 31, 2019

Colombia President Ivan Duque announced July 31 on his state visit to China that Chinese President Xi Jinping signed protocol deals that eventually will boost exports of Colombian bananas, avocados, coffee, meats and shellfish to China. Initial deals enable export of 4 million boxes of bananas (mainly produced in Antioquia) and 960 tons of Haas […]

Colombian economy

Colombia GDP Rebounding to 3.3% in 2019, 3.5% in 2020: Fitch

Medellin Herald November 16, 2018

Wall Street bond rater Fitch on November 14 issued a “stable” outlook for Colombian sovereign debt and simultaneously upgraded its GDP forecast to 3.3% growth in 2019 and 3.5% in 2020. “Ivan Duque’s 2018 presidential election victory is expected to lead to continuity in the government’s monetary and fiscal policies, including abiding by its fiscal […]

Colombian economy

Foreign Direct Investment in Colombia Grows Despite FDI Decline in LatAm

Medellin Herald July 9, 2018

A new report from the United Nations Economic Commission for Latin America and the Caribbean (CEPAL) finds that foreign direct investment (FDI) in Colombia grew by a relatively modest 0.5% year-on-year in 2017, whereas FDI in Latin America actually fell 3.6% region-wide. According to the report

Colombian economy

It’s Official: Colombia Joins OECD, World’s Biggest Free-Market Club of Democracies

Medellin Herald May 25, 2018

The Organization for Economic Cooperation and Development (OECD) – the group of the 37 biggest free-market democracies in the world – announced May 25 that Colombia has now completed all main steps to join the group. Formalization of affiliation will take place May 30 in Paris, when President Juan Manuel Santos and OECD Secretary-General Angel […]

Colombian economy

Colombia GDP Grew at 2.2% Rate in 1Q 2018: DANE

Medellin Herald May 15, 2018

Colombia’s national statistics agency (Departamento Administrativo Nacional de Estadistica, DANE) announced May 15 that first quarter (1Q) gross domestic product (“PIB” in Spanish initials) grew by 2.2%, a big improvement over the 1.7% PIB growth in 1Q 2017. The finance/insurance sector topped every other sector at 6.1% PIB growth, followed by 5.9% growth in public […]

Colombian economy

IMF Sees 2.7% GDP Growth in Colombia This Year

Medellin Herald April 30, 2018

The International Monetary Fund (IMF) on April 30 announced that it foresees 2.7% growth in Colombia’s gross domestic product (GDP) this year. In its latest annual “executive board” report (see: http://www.imf.org/en/News/Articles/2018/04/30/pr18154-imf-executive-board-concludes-2018-article-iv-consultation-with-colombia?cid=em-COM-123-36986), IMF found that during

Colombian economy

Energy Demand in Colombia, Antioquia Rising Year-on-Year

Medellin Herald April 18, 2018

Medellin-based national electric-power grid operator and power-trading center XM announced April 17 that power demand in Colombia is up 3% year-on-year through first-quarter (1Q) 2018, compared to a 1.8% net year-on-year decline in 1Q 2017. Over the last 12 months through March 2018, Colombian power demand is up 2.5%, whereas power demand actually fell 1.5% […]

Colombian economy

Colombian Full-year 2017 Exports Jump 19% Year-on-Year

Medellin Herald February 5, 2018

Colombia’s national economic statistics agency (Departamento Administrativo Nacional de Estadistica, DANE) revealed February 5 that full-year 2017 exports jumped 19% year-on-year, to US$37.8 billion, up from US$31.7 billion in 2016 — a year that saw exports drop 11.8% year-on-year. By dollar value, petroleum and mining exports led the field, up 32.4% year-on-year,