Colombian economy

Power Rationing Unlikely as Consumers Save, Rains Return, Guatape Mends

Medellin Herald April 5, 2016

Colombia’s Consejo Nacional de Operacion (CNO) – the national advisory body on electric power supply – on April 4 announced that voluntary power reductions by consumers and industry apparently have diminished the threat of power rationing. Following an analysis of encouraging data provided by

Colombian economy

Medellin-Based Bancolombia Net Income Soars Despite Colombian Economy Dip

Medellin Herald March 15, 2016

Bancolombia – already Colombia’s biggest bank and now operating in 10 countries in Latin America – on March 9 reported a 21% year-on-year (y-o-y) jump in fourth quarter (4Q) 2015 net income, to COP656 billion (US$207.9 million). Full-year 2015 net income rose 5.5% y-o-y, to 2.5 trillion (US$792 million), according to the company. The bank’s […]

Colombian economy

Colombian Industry Growing Despite Oil-Price Crash

Medellin Herald February 18, 2016

The latest annual “joint industrial opinion survey” (JIOS) organized by Medellin-based Andi (Colombia’s national industrial trade association) shows that Colombia’s industrial sector continued to grow in 2015 despite the global oil-price crash that has crippled its oil-dependent neighbors. The JIOS for full-year 2015 “reflects a slight increase in both production and

Colombian economy

Colombia Successfully Confronts ‘El Niño’ Thanks to Power Diversification

Medellin Herald February 3, 2016

Medellin-based XM — Colombia’s free-market electric-power trading organization – announced February 2 that despite the “El Niño” drought phenomenon that has cut hydropower capacity, thermoelectric generators have more-than taken-up the slack. As a result, Colombia isn’t experiencing the power blackouts suffered during the 1992 drought – which is great news for

Colombian economy

Antioquia’s Flower Producers Gear-up for Valentine’s Day Exports

Medellin Herald January 29, 2016

Some 500 million Colombian flowers are expected to be exported in the run-up to February 14 (Valentine’s Day) – most of which will go to the United States, according to Asocolflores, the Colombia trade association of flower producers. Antioquia is second only to Bogota in cut-flower production and export, with Valentine’s Day accounting for about […]

Colombian economy

Colombia’s GDP Slows, but Antioquia New-Businesses Growth Comparatively Robust

Medellin Herald January 22, 2016

A new report from Colombia’s national federation of local Chambers of Commerce (Confecamaras) shows that while the growth of Colombia’s gross domestic product (“PIB” in Spanish initials) slipped in 2015 versus 2014, Antioquia continued to support a relatively robust growth of new businesses. The total number of start-up businesses registered with Colombia’s various local

Colombian economy

Colombian Industry Resilient as Oil Prices Plummet; World Bank Hails Policies

Medellin Herald January 19, 2016

Unlike its floundering, oil-dependent neighbors in “socialist” Venezuela and Ecuador, Colombia’s capitalist economy and industrial output are showing resilience, as indicated by the latest Departamento Administrativo Nacional de Estadística (DANE) statistical survey. The monthly survey released January 18 shows that factory output in Colombia rose 4.8%

Colombian economy

Medellin Entrepreneurs Aim to Join Export Boom in ProColombia ‘Mipyme’ Project

Medellin Herald January 19, 2016

Colombia government promotion agency ProColombia announced January 18 the expansion of its “Mipyme International” export business-development project, which now aims to boost exports of goods other than petroleum or minerals to a total of US$21 billion this year. “Following the success of the first edition of Mipyme International in 2015, which helped 33 companies to […]

Colombian economy

Antioquia, Colombia Taking New Steps toward ‘Responsible’ Gold Mining

Medellin Herald October 26, 2015

The just-issued annual report by the metro-Medellin-based Alliance for Responsible Mining (ARM) finds that Antioquia and other parts of Latin America are starting to make progress in their quest to overcome enormous problems confronting the gold-mining industry. ARM, which created the “Fairmined” certification standard, reports that during 2014, “certified miners sold 500%

Colombian economy

1,000 Biggest Antioquia Companies Account for 80% of Exports

Medellin Herald October 21, 2015

A new study by the Chamber of Commerce of Medellin for Antioquia (CCMA) shows that the biggest 1,030 companies in Antioquia account for 80% of the department’s exports, worth more than US$4 billion annually. These enterprises also represent 52% of Antioquia’s net annual investment in companies, 92% of the business asset base and 53% of […]