Key Business Snapshot: Colombia
With an estimated GDP of over $325bn, Colombia is currently the fourth largest economy in Latin America. Although it is still a commodity-based exporter, over the last decade, deliberate government efforts to shift from an oil exporter only, along with other commodities, to a more diverse scope of products/services.
According to Bloomberg Linea, efforts are paying off, as an increase in the share of non-traditional exports is becoming a reality, and numbers are showing a sustained growth in non-mining goods for 2021.
Official sources highlighted the fact that food, beverage and overall agricultural goods had a positive growth rate of 16,6%, while manufacturing also played an important role with a +26,2% year-over-year increase.
With almost 17 trade agreements including nearly 65 countries, and having the US as its main trade partner, opportunities for Colombian exporters in the Food & Beverage (F&B) industry are immense!
At Powerlinx, we want to make sure they find a place where they can turn this vision into reality.