Colombia Demographics
- Population of 46 million; 75% urban
- GDP (PPP) of $526 billion (compared to US); est. 2013 ranks 29 in the world
- GDP (OER) of $369 billion (compared to US); est. 2013
- GDP real growth rate 4.2%; est. 2013
- GDP Per Capita (PPP) $11,100; est. 2013 Ranks 112 in the world
- GDP Composition, by end use:
- Household consumption: 61.7%
- Government consumption: 16.7%
- Investment in fixed capital: 23.8%
- Investment in inventories: -0.3%
- Export of goods and services: 17.3%
- Import of goods and services: -19.3%
- 2% of all imported products are of US Origin
- Retail sales value of the packaged food market in Colombia will reach US$17.2 billion in 2012. That ranks Colombia as the 5th largest packaged food market in Latin America after Brazil, Mexico, Argentina and Venezuela. It is also the 25th largest retail food market in the world, larger than Saudi Arabia, Chile, Thailand and the Philippines as examples. The 2012 figure also represents an increase of 21.1% from the 2008 value, or US$2.9 billion
- High growth products in the forecast include noodles, sweet and savory snacks, dairy, chilled processed food, ice cream, snack bars, canned/preserved food and soup
- Euro Monitor reports that in 2011, as in the previous year, there was a marked trend towards convenience and local stores in grocery retailing. Most consumers looked for outlets within walking distance of their homes where they can go to find daily or weekly rations of staple goods or impulse products.
- The global financial crisis in 2008 and 2009 helped to further strengthen small and local outlets with their relationships to consumers. As a result, independent small grocers gained share of overall grocery retailing and larger chains expanded their efforts in small formats by opening new convenience store outlets. Examples include Éxito Express, Carrefour Express and OXXO.
- Colombia is a growing market for value-added food products. Surveyed retailers and producers feel there is significant potential for new products in almost all food product categories. These include red meats, chicken, turkey, fish products, canned fruits and vegetables and fresh fruits. It also includes cereals, pasta, juices, bottled water, bakery items, wine, baby food and frozen foods, as well as health foods, dietetic, ethnic and organic foods.