Colombia PESTLE Insights - A Macroeconomic Outlook Report
Mining, manufacturing and utilities contributed 22.1% to gross value added (GVA) in 2022, followed by financial intermediation, real estate and business activities (21.9%) and wholesale, retail and hotels (13.7%), According to the analyst. In nominal terms, the three sectors are forecast to grow by 6.2%, 7.8% and 6.6%, respectively, in 2023.
Bogota, Cali and Medellin are among the best performing cities of Colombia. These areas contributed 33.2% of GDP and comprised 33.6% of Colombia’s population in 2022.
The overall COLCAP Index exhibited a decreasing trend over last year. As of April 26, 2023, the index stood at 1197.7, compared to 1,575.4 on April 26, 2022.
- In 2023, the Colombian government will spend $3.3 billion on infrastructure. About 70% of the sector’s funding has already been allocated to the portfolio of fourth- and fifth-generation road projects.
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.