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Overview of the Construction and Mining Industry in Colombia and How to Buy Equipment.

Flag of Colombia

Colombia

Colombia, officially the Republic of Colombia, is a country in South America with territories in North America. It is bounded on the north by the Caribbean Sea, the northwest by Panama, the south by Ecuador and Peru, the east by Venezuela, the southeast by Brazil, and the west by the Pacific Ocean.

  • Colombia has a population of 50.32 million.
  • Capital: Bogota
  • Official Languages: Spanish
  • Total Area: 1.143 million km
  • Currency: Colombian peso ($)

 

Economic Statistics of Colombia

In 2019 Colombia had a Gross Domestic Product (GDP) of 323.6 billion USD and was projected to rise by 3.75 % in 2022.

Economic Sector Divide

Here are the shares of the economic sectors in the GDP of Colombia as of 2019

  • Agriculture: 6.74%
  • Industry: 26.27%
  • Services: 57.53%

Trade Statistics

The major trading partners of the country are:

Main Import Partners

  • Mexico: 7.5%
  • United States: 26.3%
  • Brazil: 5%
  • China: 19.3%
  • Germany: 4.1%

Main Export Partners

  • China: 20.58%
  • Mexico: 7.71%
  • Germany: 4.24%
  • The United States: 25.56%
  • Brazil: 5.52%

Industries of Colombia

Mining Industry of Colombia

Colombia is well equipped with minerals and energy resources such as copper, small amounts of iron ore, bauxite, salt, limestone, sulfur, gypsum, dolomite, barite, feldspar, clay, magnetite, mica, talcum, and marble. Colombia also produces most of the world's emeralds.

Currently, the mining sector makes 2.4% of Colombia’s GDP. 80% of the mining territory is unexplored, providing more significant opportunities for investments. <./p>

Colombia’s mining sector is expected to recover 15% in 2021, followed by more excellent coal production, gold and nickel, and direct foreign investment, which is expected to almost triple to $2.7 billion.

Due to a lack of development projects, many large mining projects are interested in financing and operating in the next few years. As a result, there will be an increase in the market size and new opportunities.

To also invest and benefit from the opportunities, consider Camamach; it brings you the best mining and mineral processing equipment at low rates.

Construction Industry of Colombia

The construction industry in Colombia is forecasted to reach a value of 24.8 billion U.S. dollars in 2021. The increasing importance of the construction industry will encourage investors to continue the development through projects and programs.

The government intends to focus on building rather than the selling of houses to reactivate the economy. Other infrastructural projects such as roads, rail, rivers, and airports are seeking investment.

Camamach has stocked the highest quality construction equipment for you at competitive rates to cash in on the development projects.

Seaports and Trading Hubs of Colombia

Colombia shares a border with the Pacific Ocean. The main seaports of the country are:

  • Port of Barranquilla - River Magdalena, Caribbean coast of Colombia
  • Port of Cartagena
  • Port of Santa Marta - Caribbean Sea coast
  • Port of Tumaco - Pacific Ocean
  • Port of Buenaventura - Pacific Ocean

 

Port of Colombia

Camamach uses the port Said for Cartagena.

What heavy machinery or equipment does Colombia Import?

The government spent $5.8 billion on machinery and equipment imports. Mining and construction have major impact on the economy. Some imports for these industries include Bulldozers, Heavy Duty Trucks, Concrete Batching Plants, Backhoe Loaders, Grinding Equipment, etc.

What regulations are there on importing equipment to Colombia?

Import licenses issued by the Ministry of Commerce are published automatically. However, some products need pre-approval before the Ministry of Commerce issues an import permit.

Import Documentation

The import documentation for shipments include:

  • Customs Import Declaration
  • Declaration of Dutiable Value
  • Commercial Invoice
  • Pro Forma Invoice
  • Packing List
  • Air/Sea Waybill
  • Bill of Lading
  • Certificate of Origin
  • Single Tax Register (Rut) Of the Importer

Why should Colombia import equipment?

  • Availability - Unlike domestic suppliers, international vendors are always stocked with the equipment you need
  • High Equipment Cost- Domestic manufacturers are generally more costly than foreign competitors.
  • Equipment Quality- Before making a delivery, foreign suppliers assess each aspect and provide benefits that customers prefer in the long term.

Where Can I Buy Equipment for Colombia?

Camamach has been exporting equipment in Colombia for years. Feel free to contact us at sa[email protected] or WhatsApp us at +86-131-2037-9271 for a FREE quotation. We also ship worldwide; for other countries, check out our experience here.