The Manufacturing Sector in Colombia
With a Gross Domestic Product of USD$32,6 billion in 2015 and a share of 12.2% of the total GDP, the manufacturing industry ranked as the fourth most representative productive activity in the Colombian economy.
Thanks to trade agreements and a strategic geographical location, the country has become a center of production, distribution and an export hub. This is shown by manufacturing exports, which in 2015 reached USD$7 billion.
This sector's growth is also due to competitive costs, an attractive domestic market, skilled labor and a high quality in production processes. Conditions that ensure world-class products, characterized by innovation and adaptability to the demands of the international market.
However, the manufacturing industry in Colombia has other significant advantages that make the sector more competitive. Among them, the tariff preferences on several products in various markets through the trade agreements signed by Colombia.
In addition, the implementation of Good Manufacturing Practices (GMP) in the stages of the production process, the high level of quality and innovation in products, with certifications recognized worldwide and production flexibility to adapt to the demands of the international market.
So far, the most important export destinations for the sector are:
- Ecuador with USD$1.06 billion (15.2% share)
- United States with USD$829.7 million (11.8%)
- Peru with USD$753 million (10.7%)
- Venezuela with USD$719.2 million (10.2%)
- Brazil with USD$660.3 million (9.4%)
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