Colombia, as the fourth largest economy in Latin America, presents significant opportunities for Swiss and Liechtenstein exporters, especially in sectors like energy and agriculture, despite recent economic fluctuations and political changes.
Colombia’s economy is gradually recovering following a sharp slowdown. Real GDP grew by around 1.6% in 2024, and growth is expected to strengthen to approximately 2.3–2.5% in 2025, supported by easing inflation, a gradual improvement in household demand and targeted public investment. Inflation has declined markedly - from double-digit levels in 2023 to below 7% in 2024 - helping to stabilise the operating environment for businesses. The energy sector remains a cornerstone of the economy, accounting for over 8% of GDP and a significant share of exports, while agriculture continues to expand, with coffee production posting strong growth in 2024. Swiss companies already have a visible presence in the market.
At the same time, the policy environment has become more complex since 2022, with ongoing debates around energy transition, taxation and labour reform. Exchange-rate volatility, shifts in investor sentiment and political uncertainty increase planning requirements, making thorough preparation and strong local partnerships essential for successful market entry and expansion.
Yes
Free Trade Agreement
There is a free trade agreement between Switzerland and this country. Source: State Secretariat for Economic Affairs SECO
0.67 0.67 billion
Total trade flows
Total goods traded with Switzerland (imports + exports). Source: UN Comtrade. Data as of 2023.
19.6 19.6 %
3-year GDP growth
Total real GDP growth over the last three years. Source: World Bank. Data as of 2023.
Navigating Colombia’s market requires a clear understanding of recent economic uncertainties, but with the right strategic partnerships and local insight, businesses can successfully position themselves and unlock sustainable opportunities.
Bruno Aloi
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FAQs
What is the current economic situation?
Colombia is experiencing a moderate recovery. After weak growth in 2023, GDP expanded by about 1.6% in 2024, while inflation fell from 11.7% to around 6–7%, supporting household purchasing power. Growth is expected to strengthen to 2.3–2.5% in 2025, although challenges remain in unemployment and investment confidence. Overall macroeconomic stability is improving, and new direct flight connections with Switzerland are supporting closer business ties.
What are the main export and import trends?
Overall exports remained stable in 2024, with a slight decline, but shipments to the United States grew strongly, reflecting firm external demand. Imports from China and the EU increased, intensifying competitive pressure in industrial goods and manufacturing inputs. For Swiss companies, this means both opportunities in specialised, high-value segments and the need for clear differentiation in pricing and technology.
What opportunities exist for Swiss companies?
Swiss firms can benefit from growth in financial and corporate services, where international investment continues to expand. Opportunities also exist in construction materials, engineering solutions, and industrial technology, supported by ongoing infrastructure needs. In addition, plant-based pharmaceuticals - including regulated medical cannabis - represent an emerging field where Swiss expertise in life sciences and quality standards is highly relevant.
Which sectors are most promising?
Promising sectors for Swiss exporters include energy and energy-related engineering, given the sector’s share of GDP and its central role in Colombia’s transition. Agriculture remains a strong performer, with high-value coffee and specialty crops showing solid growth. Construction, building materials and associated technologies also offer opportunities due to ongoing urban development and Swiss firms’ established presence in the sector.
What are the main challenges and risks?
Key risks include fluctuating investor confidence, higher risk premiums on government debt, and a decline in foreign investment in extractive industries. Policy uncertainty - particularly in energy, taxation and labour - requires careful monitoring. Swiss exporters should also plan for exchange-rate volatility and ensure reliable local partnerships to navigate regulatory and administrative complexity.
