Economic Overview & Business Opportunities
The Republic of Colombia is the fourth largest economy in Latin America, after Brazil, Mexico, and Argentina, and has the third largest population with approximately 46 million inhabitants.
It is the only country in South America with two seacoasts (Pacific and Caribbean), which provides tactical shipping advantages in today’s global market. Aided by major security improvements, steady economic growth, and moderate inflation, Colombia has become a free market economy with major commercial and investment ties to the United States, Europe, Asia, and Latin America. With the implementation of the U.S.-Colombia Free Trade Agreement on May 15, 2012, Colombia is the third largest market for U.S. exports in Latin America.
In 2015, Colombia remained among the fastest growing countries in the region thanks to effective macroeconomic and fiscal management. Even though the country was affected by the global economic slowdown and lower oil prices, services remained the main engine of growth. Overall economic growth is expected to be moderate before beginning to recover in 2017.
Unemployment reached a record low in 2015 (8.9 percent), following important reforms to reduce non-wage labor costs and despite the slowdown in economic activity.
- Accounting Outsourcing
- Interim Management
- Financial Management
- Visa Processing Services
- Legal Services
- Southern Cross Recruitment
- Colombia Company Formation
- Marketing Services