Markets in demand

Whilst countries such as Colombia have not always been considered a key export market to Australia, Australian-Latin America relations have been on the up for a number of years thanks to a shift in commercial interest, with savvy businesses looking to take advantage of large and unexploited markets that have yet to be cracked by multinational firms and global giants.

South America

One of those unexploited markets in Colombia, which is home to the third largest economy in South America and is the second most biodiverse country on the planet. Foreign Direct Investment within Colombia is on the up, with new funds from European businesses who want to capture the territory’s:

  • textiles

  • oils

  • manufacturing

  • mining, and

  • agricultural markets.

Imports and Exports

Colombia is home to the 55th largest export economy in the world.

Exported over US$32 billion - 2016.

Crude petroleum, coal, coffee and gold.

Imported over US$43 billion - 2016.

Cars, refined petroleum, packaged medicaments, computers, broadcasting equipment, and tires.

Colombia

Australia

Major Exports

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  • Electrical circuits equipment.

  • Civil engineering equipment & parts.

  • Measuring & analysing instruments.

  • Hand or machine tools.

Key markets -imports

  • Machinery and transport equipment: 39%

  • Manufactured products: 22%

  • chemicals and related products: 17%

  • fuel, mineral lubricants and related products: 10%

  • and food and livestock: 8%.

Colombia

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SOURCES

World Bank.

DFAT, ABS, and IMF