Colombia Trade and Investment Annual Report 2025

The “Macroeconomy” section reports that private final consumption expenditure, which accounts for 76% of GDP, grew by 3.6%, while growth in gross fixed capital formation was limited to 1.3% because of a decline in construction investment. Consumer price inflation ranged from 4.82% to 5.51%, above the central bank's 3% annual target. The central bank cited prices of food and other goods, robust consumption, rising labor cost pressures, and some supply constraints as contributing factors. The central bank forecasts growth of 2.6% in 2026. The policy rate was lowered from 9.5% to 9.25% in May 2025, then rose to 11.25% in April 2026.

The “Trade” section reports that customs-basis exports in 2025 rose 1.3% to $50.2 billion, while imports rose 10.0% to $70.502 billion. The trade deficit widened by $5.57 billion from the previous year. Exports of mineral fuels, nonferrous metals, and related goods fell 17.9%, while agricultural, forestry, fishery, food, and beverage products rose 33.2%. Coffee, tea, cocoa, and spices rose 65.7%. Imports of industrial goods increased 11.7%, and motor vehicles rose 37.1%. The United States was the largest export destination, and China was the largest source of imports.

The “Inward and Outward Direct Investment” section reports that finance was the largest sector for inward investment, while finance accounted for 40.3% of total outward investment. The report says that policies to curb mining activity and tax disadvantages are considered possible factors behind the sharp drop in mining investment. The “Relations with Japan” section covers bilateral trade and examples of Japanese companies establishing operations in Colombia.

Against a backdrop that included lower oil and coal export value, Colombia's trade deficit widened from the previous year and reached a record level.

Exports to Japan rose 9.2% to $555.09 million, and imports rose 15.8% to $1.68254 billion, widening Colombia's trade deficit with Japan compared with 2024.

Inward direct investment fell 16.2% year over year to $11.469 billion. Finance was the largest sector at $3.613 billion, followed by oil at $2.498 billion and manufacturing at $1.697 billion; mining, including coal, fell 86.0% to $159 million. By country or region, the United States was the largest source at $3.375 billion, down 37.3%, while Spain accounted for $2.43 billion. Investment from Japan was $238 million, about 5.3 times the previous year's level. Outward direct investment fell 7.8% to $4.159 billion. Finance accounted for $1.676 billion and manufacturing for $987 million. Panama was the largest destination, with $1.619 billion, up 59.8% and accounting for 38.9% of the total.

Among inward investment projects, Mercado Libre invested $470 million and opened a new 3,000-square-meter office in Bogota. Wyndham announced a resort development worth more than $250 million over six years in the coffee-producing region. Parque Arauco's plans in Bogota and Medellin were estimated at a combined $57 million, and Claro announced plans to invest $42 million in expanding its telecommunications network. Among outward projects, Ecopetrol said it would invest more than $880 million in a development project in Texas, United States, and Grupo Trinity announced a $47 million investment in Juan Valdez's expansion in Spain.

Exports to Japan of coffee, tea, and spices rose 67.5% to $296.99 million, accounting for 53.5% of the total. Mineral fuels fell 49.3% to $92.04 million. Imports from Japan of motor vehicles and parts rose 23.4% to $670.29 million, while pig iron and steel rose 21.8% to $360.9 million. As an example of a Japanese company entering Colombia, Maruyama Manufacturing established a local sales subsidiary in January.