Colombia

Location: South America

Flag of ColombiaLocation of Colombia

Population:  45,239,000 (Estimate July 2012)

Language(s): Spanish (official)

Currency: Colombian Peso COP

GDP:  $470.6 billion (estimated 2011)

Top Import Commodities:

  • Construction Equipment
  • Aircraft Parts
  • Fertilizers
  • Agrochemicals
  • IT
  • Medical and Scientific Equipment
  • Transportation equipment

NEW Free Trade Agreement!

25% of Imports are from the US; 15% from China;  11% Mexico; 5% Brazil; 4.1% Germany

 

Other Information:

Why export to Colombia:

  • 3rd largest market in Latin America
  • Location, location, location
  • FTA – Free Trade Agreement
  • 5 cities with 1 million consumers
  • Fastest growing market in Latin America for oil and gas production

Other opportunities:

Colombia Oil and Gas Opportunities

  • Fastest growing market in Latin America – 953,000 (Barrels Per Day – BPD (goal of 1.5 million BPD by 2015)
  • Huge Investment program = $80 billion through Ecopetrol Procurement Process (Goods and Services)

–      Cartagena Refinery Modernization             US $4 billion

–      Barrancabermeja Refinery                          US $3.5 billion

–      Crude and Gas Transport Expansions        US $5 billion

Equipment needed:

  • Refinery Equipment
  • Valves
  • Wellhead Equipment
  • Compressors
  •  Drilling Equipment
  •   Pipeline-related Equipment
  •   Enhanced Oil Recovery

Source: US Commercial Services Western Hemisphere Conference Miami, Fl April 2011