Manufacturing, mobility and other industries

Construction: the industry represents more than 5% of the country's GDP, registering a growth of 11.7% in 2021 compared to the previous year. Residential housing is the niche with the highest growth in the sector last year was with a growth rate of 23%, historically being the year with the highest number of home purchases in the country. Colombia estimates a growth of 17% in the construction industry at the end of 2022.
Construction Materials: Between 2003 and 2021, Colombia registered 24 FDI projects in the construction materials sector behind Brazil (35), with higher rates than Argentina (17), Mexico (15), Panama (11), Chile (9), Honduras (6), Peru (6) and Ecuador (6) (FDI Markets).
In Colombia there are more than 22.000 national and foreign companies associated with the manufacture and sale of building materials due to a high demand growth in the construction sector. This is catalyzed by the approval of 21 M m² for construction in 2021, especially in the housing sector (81%) and commerce (6.6%).
Shipyard: In 2021, the activities for the construction of ships, floating boats, and recreational and sports boats were valued at USD 13.1 M. In addition, the government eliminated import tariffs on 395 products and raw materials of the sector which are not produced in within the country.
The competitive cost in wages and a skilled workforce for the shipyard industry are defined as significant conditions for repair activities of medium-sized ships with jurisdiction in the United States, Central America, and the Caribbean.
Aeronautical/ MRO: In Colombia there are 4 registered MROs and 89 workshops that offer a wide variety of services, as well as 67 training centers and 15 educational institutions that offer programs related to the aeronautical industry. In Colombia there are AS9100 certified companies with great potential to supply the international aeronautical industry. These companies are manufacturers of auto parts and provide aeronautical services. Colombia offers capabilities, investment opportunities, and structured projects in different cities to run MRO operations for the maintenance and repair of single or twin-aisles commercial and military aircrafts.
Colombia's strategic location in Latin America positions the country as an important cargo and passenger transportation hub. Colombia has 16 international airports, including El Dorado International Airport, which ranks 1st in cargo transport and among the main airports in Latin America for passenger transport. In addition, it has direct connections with 24 airlines, 5.317 domestic and 1.039 international frequencies weekly.

Mobility

Vehicles: In 2021, more than 250.000 vehicles were sold in Colombia, representing a growth of 32.8% compared to 2020, estimations foresee 260.000 units sold by the end of 2022, which means 6% growth, generating more than 500.000 jobs in the production chain. Colombia's total fleet of vehicles with 4 wheels or more was 6.7 M in 2021. In the same year, 44.140 vehicles were assembled within the country and 14.312 were exported, which places the country as the 4th largest assembler in Latin America.
Freight transport and buses: The Ministry of Transportation plans to renew by 2025 more than 25.000 freight vehicles aged older than 20 years of service in the largest and most populated cities in the country are targeting the renewal of bus fleet and public transport. In Colombia there are several players in the workshop and assembly of buses that might serve potential partners of investors.
Motorcycles: In 2021, the motorcycle fleet in Colombia was 10.1 M, representing 60% of the Colombian vehicle fleet and being the 2nd largest in Latin America after Brazil. According to estimations, sales of motorcycles in Colombia reach 840.000 units, representing an increase of 15.7% compared to 2021. 93% of motorcycles sold in Colombia are produced within the country, being the 2nd largest producer of motorcycles in Latin America.
Electric and hybrid vehicles: 2021 registered a growth of 194.7% compared to 2020 with sales that exceeded 17.000 units. In 2022 a growth rate above 100% is expected. Furthermore, the Ministry of the Environment has developed the National Electric Mobility Strategy, aiming to have 600.000 electric vehicles in the country by 2030.
Hydrogen Mobility: Colombia targets to be the pioneer in Latin America in hydrogen mobility, Colombia has the greatest amount of hydrogen vehicles in the region carrying out different pilots and it is projected the assembly of a hydrogen bus by the beginning of 2023.