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Colombia foreign investment in 2013 hits record high

posted by Mimi Yagoub
Colombia foreign investment in 2013 hits record high

Foreign direct investment (FDI) entering Colombia hit a record US$16.8 billion in 2013, up 0.87% from last year.

Contrary to the expectations of financial authorities, foreign direct investment in 2013 Colombia reached a historical high of US$16,822 million, meaning a 0.87% increase from 2012, according to statistics released on Friday by the Bank of the Republic.

The report, published by international news agency Reuters on Friday, highlighted that financial authorities had expected a fall in figures as a result of the global economic crisis.

MOREForeign investment in Colombia up 2.4% in Q1 of 2013

According to Reuters, the petroleum, hydrocarbons and mining sector received the most investment – with an influx of US$13.7 billion, it amounted to an overwhelming 81.6% of total investment, up 2.9% compared to last year.

Portfolio investment reportedly also boosted up 43.7% in between 2012 and 2013, reaching US$4.7 billion, though these figures may be subject to revision.

In the meantime, Colombian investment abroad also increased 75.4% to hit US$2.4 billion, with the main destination being international portfolios.

Net international reserves were up in value by 16.4% at the end of last year, once again reaching record heights of US$43.6 billion.

Foreign investment in Colombia since 1994

MORE: Colombia FDI statistics

Sources

About the author

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Mimi Yagoub is a French and Spanish undergrad student at Cambridge University, UK, where she specializes in Latin American literature. As a journalist she covers topics ranging from social issues and politics to travel and culture. She previously worked as a reporter in Santiago, Chile.

User Name: Mimi Yagoub
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