A Brief Note On Colombia

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COLOMBIA
Global Economics and International Business
October 20, 2011
Marie – Christin Rische, Luisa Marmolejo, Michael Hartenberger

1. Introduction: What is Colombia?
• General background
• Colombian Economy: Principal indicators
2. Why Colombia?:
• Business environment
• Human Resources
• Legal Incentives
3.

• Trade
• Taxes exemptions
• Problems
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2

GENERAL FACTS
Location: northwestern South America, Pacific and
Atlantic coastlines, Andes Mountains,
Amazon rainforest
Climate: tropic zone
Resources: petroleum, natural gas, coal, iron ore, nickel, gold, copper, emeralds, hydropower
Population: 45.5mil.
Government type: constitutional Republic
Official language: Spanish
Capital: Bogota
Currency: Peso (kol$)

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ECONOMIC DATA 2010
GDP: $289.433 billion
GDP/capita: $6,359.564
(Agriculture: 18%, industry: 13%, services: 68%)
Inflation rate: 2.3%
Unemployment rate: 11.8%
Debt-to-GDP: 39.1%
Trade balance: -863 mil. (-3.1% of GDP)
EX: industrial products, petroleum and coal, foodstuff (coffee, bananas), cut flowers
IM: commodities, capital goods, consumer goods
Most important trade partners: US, Mexico, China
FDI: $77.557million
IGBC: returning 34%
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4

WHY COLOMBIA?
2. Human capital and
Resources

5.Tax exemptions 1. Improved
Business
Environment

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3. Legal
Stability
Agreement

4. Ideal
Trade
Platform

5

COLOMBIA: A dynamic economy!
Source: DANE (National Accounts), EIU (Market Indicators & Forecasts)

In the last 10 years the Colombian GDP per head doubled
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According to the Nominal GDP, Colombia is the 36th greatest economy in the world and 5th in Latin America

Source: EIU (Economist Intelligence Unit)

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Three of the most important world credit rating agencies have given the INVESTMENT GRADE to Colombia
 Colombia has never failed to fulfill its international financial obligations.
Colombia has been distinguished by outstanding economic stability
Colombia’s track record of prudent economic policies,
Colombia has demonstrated resilience to external and domestic shocks,
Improvement in its external credit metrics

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2. HUMAN CAPITAL

Colombia has the second most qualified labor available in the region

2. HUMAN CAPITAL

Colombia is the country with the best quality education in science and mathematics in the region

2. HUMAN CAPITAL

According to IMD, Colombia has the best Labor Market Flexibility Index in
Latin America

4. IDEAL TRADE PLATFORM

Strategic Location!
Lower costs!
Since 2000, international flights to Colombia increased 120%

In 9 years, Colombian exports have tripled! 22.10.2014

13

Free Trade Agreements: (FTA):

In 2011 Colombia will be negotiating 11 FTAs with 48 countries, getting preferential access to more than 1.500 million of customers http://www.investincolombia.com.co/Adjuntos/047_Ideal%20Export%20Platform-December,%202010.pdf Double Taxation Agreements (DTA):

http://www.investincolombia.com.co/Adjuntos/047_Ideal%20Export%20Platform-December,%202010.pdf

International Investment Agreements (IIA):

http://www.investincolombia.com.co/Adjuntos/047_Ideal%20Export%20Platform-December,%202010.pdf

Free Trade Zones:
Colombia has the most competitive Free Trade Zones in Latin
America
• A single 15% income tax rate
• Sales in the local market are allowed
• Goods exported from a FTZ benefit from
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