Manufactures tools and equipments in Colombia
The construction industry in Colombia is the third-largest in Latin America (USD 22.1 billion in 2019) after Brazil and Mexico. The sector contributes to the economic development of the country. In 2019, the sector represented 7.2% of the country’s GDP, according to the National Department of Statistics (DANE).
Exports of construction materials in the country have grown over the last years. In 2019, exports reached a value of USD 438 million and showing an 18.6% increase compared to the previous year. The main importing country of the Colombian tools is the United States.
Because metallic structures were highly demanded in the construction industry, principal steelworks companies across the country were lead to start their tool manufacturing business. Tools and construction equipment such as anchors, belt conveyors, anchor bolts, and montages among others, are produced in Colombia. Also, electric systems have become the main product in the construction materials sector.
Most of the tool manufacturers are concentrated in the industrial sectors of the country such as Bogota, Medellin, Cali, and Barranquilla.
Colombia has a strong manufacturing industry of construction materials that makes up almost 26,000 companies countrywide. The manufacturing industry offers a diversified and recognized supply of construction materials that have become promising to the international markets.
The country has a strategic geographical location, which makes the distance to other countries favorable. Also, the quality and compliance that is offered in the products have made the products stand out in comparison to other markets. It also has the benefit of having preferential to zero tariffs in some countries in North and South America, making it more attractive to the consumer.