Sales of building materials in Colombia
Sales of building materials in Colombia have been taking advantage of the positive business environment that surrounds the construction industry of the country. In 2018, the World Bank ranked Colombia as the third most competitive country in terms of regulation for financing infrastructure projects due to its innovative legal framework that allows public and private partnerships.
Construction materials stores as well as building supply stores have contributed to the industry growth and its positioning in the national and international scope. The Colombian investment agency - Invest in Bogotá - highlighted the construction industry contribution to the Colombian gross domestic product in 2018, determining that with a size of approximately COP$ 63.3 trillion, it corresponds to nearly 6.8% of the country's GDP. Accordingly, new constructions in Medellin, Cartagena, and Santa Marta, amongst other cities, have boosted the sales of building materials and the role of construction companies in Colombia. The construction sector of the country has mainly two branches, which are the residential constructions on one side, and on the other, the non-residential construction and infrastructure; Invest in Bogotá determined that each of these branches represent approximately COP$30.42 trillion and COP $32.8 trillion, respectively. Moreover, the mentioned agency analyzed the foreign direct investment dedicated to the construction sector and determined that between 2013 and 2018, it has attracted over US$3 billion in FDI.
With products such as doors, covers, ceilings and wall plates, building material stores are responsible to supply quality goods to the construction value chain. Alongside with other materials and mineral combinations, discount building supplies offer mastic, PVC ceilings and tiles, asbestos cement and dryboard to attend a wide range of market interests. Thus, construction materials stores promote and enhance sales of building materials in Colombia due to their high-quality standards as well as to their extensive experience contributing to one of Colombia's most important sector and value chain.