According to the UN Conference on Trade and Development (UNCTAD) World Investment Report 2020, foreign direct investment (FDI) inflows into Colombia increased in 2019 to a value of $14.5bn, compared with $11.5bn in 2018, a rise of 25.6%. The report also stated that net outflows from the country in 2019 added up to $3.2bn.
For the first quarter of 2020, CEIC data shows that $3.6m-worth of FDI came into Colombia, compared with a figure of $3.8bn in the final quarter of 2019. However, it has been widely reported that FDI in Colombia contracted by 21.9% to $4.67bn between January and July 2000 when compared with 2019 figures.
Oil and mining dependency
More than one-third of Colombia’s FDI inflows ($4.6bn) in 2019 went into the oil and mining sector, data from the country’s central bank shows. According to UNCTAD, 21% of the country’s FDI went into the financial and professional services sector, with manufacturing accounting for 11%.
FDI flows in the oil industry increased by 11% to $2.8bn in 2019, and in the mining industry by 29% to $1.8bn. The US was the largest investor in Colombia last year.