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In 2015 Colombia had a Gross Domestic Product of USD$32,6 billion with the manufacturing industry having a share of 12.2% of the total GDP, making it the fourth most representative. So why choose Colombia to manufacture your goods?
Colombia’s manufacturing industry is having success because of its competitive costs, attractive domestic market, skilled labor and the high quality of its production processes. These conditions lead to world-class products, characterized by innovation and adaptability to the demands of the international market.
When your goods are manufactured in Colombia you can trust that each stage of the production process has been according to the implementation of Good Manufacturing Practices (GMP). This results in products that stand out in quality and innovation. Manufacturers also work along with certifications recognized worldwide to access the international market. These factors along with production flexibility make it very competitive with other locations.
Because of its strategic location, Colombia is in an ideal position to bridge between the countries in North and South America. It is less than 6 hours away by plane from all the major cities on the continent and closer to Central and North America than many other Latin American countries.
There are also some other significant advantages that make the sector more competitive. For instance, they have tariff preferences on several products in various markets through the trade agreements signed by Colombia. Colombia boasts an extensive free trade agreement network, giving preferential access to more than 60 countries and 1.5 billion consumers around the world. In 2015 manufacturing exports reached USD$7 billion, proving the merits of Colombian manufacturing.
Colombia being a Latin American country has very similar culture to other Western countries and is very close to the other Latin American countries. The national language is also Spanish which is widely spoken throughout the Americas. Shared values and familiar language allow for smoother business dealings and greater understanding.
Colombia is known for its political stability and solid institutions, making it one of the most politically stable markets in Latin America. Regardless of the president in office, the government has a long term commitment to the continued development of private businesses, and follows the standard of best economic and social practices. This made it possible for the country to join the Organization for Economic Cooperation and Development in 2020.
Colombia has an abundance of nonrenewable resources, including reserves of gold, coal, and petroleum; its renewable resources include rich agricultural lands and its rivers, which have been harnessed increasingly for hydroelectric power. These resources put Colombia in a good position to be able to produce a variety of products.
As Colombia is in the tropical region, it’s rich agricultural lands produce a wide range of unique resources that can be used to make food and beverage products.
I’s natural resources can also be used to create various construction materials that are environmentally friendly. This can give your company a much valued environmentally green image.
The petroleum resources open the way for a huge possibility in products made from synthetic fibres and plastics.
So, if you are looking for incredible manufacturers, then choose Colombia. At Colombia’s best, our dedicated team sets up agreements with the best suppliers and connect them with buyers around the world that want to grow their business with great products. Contact them today to see how they can help your business thrive.