With private consumption at US$231bn in 2013, Colombia is ranked fifth in Latin America (behind Brazil, Mexico, Argentina and Venezuela) in terms of market size for consumer goods. Relatively low incomes per head and high levels of inequality hinder demand, but private consumption is expected to expand strongly in 2014-18, boosted by lower unemployment, growing access to credit, low inflation and real wage growth.
Colombia's population, at an estimated 48.9m in 2013, is the third-largest in the region, and its growing middle class offers an attractive environment for retail, including for luxury goods. Combined with sound macroeconomic management, rising investment, growing urbanisation and gradual security gains, this will support solid and consistent growth of consumer goods activity in 2014-18 (averaging 7.2% per year in local-currency nominal terms).
The bulk of consumer goods demand is met by imports, although there is domestic production of foodstuffs (owing to a well-developed agro-industrial sector) and, to a lesser extent, white goods, cosmetics and clothing. Colombia's consumer goods exports are mainly directed towards neighbouring countries, making them less susceptible to a Ml in US or European demand. Nonetheless, there is a lingering risk that trade disputes with its neighbours (particularly Venezuela) may flare up again.

Consumer goods and retail report 2

Overview 2

Retail 3

Food and drink 5

Non-food products 9

Industry publishing schedule 14

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