The economy of Antioquia is based on tourism, coffee production, livestock, mining and textile industry. The income from these sectors is what has facilitated the creation of a constantly developing and prosperous region.
The combination of the dedication of its population and a series of successful social policies have made this possible.
Antioquia is at the forefront of economic development. This vanguard makes its capital, Medillín, the second most important city in Colombia.
Even in the department the Antioqueño Business Group or Antioqueño Union was created. This group is a group of companies of great local importance.
Main economic activities of Antioquia
This is one of the most popular and highest producing departments in the country. This success is due in large part to the diversification of sources of income.
1- Tourism
Antioquia is one of the most visited tourist destinations in the country. It offers beautiful landscapes and adventure tourism.
The nature of the region is diverse, it has beaches and mountains, hot and cold areas. This apartment has something for everyone.
Furthermore, government policies have worked to promote this position. In this way, tourism is an inexhaustible source of income.
2- Coffee production
Being right in the region with the highest coffee production is a great advantage for this department.
95 of the 125 municipalities in Antioquia are ideal for growing coffee. This has led it to become the largest producer of Arabica coffee in the country.
The mild climate of the mountains favors the cultivation of excellent quality coffee.
This is not only grown in the region, but it is also processed there, for later export.
3- Livestock
Within the region there are 5 areas in which this sector develops; Lower Cauca, Urabá, Urrao, Magdalena Medio and Cauca Canyon.
This state is the first in bovine production, being favored by the climate.
The government has established livestock production systems that have proven their efficiency.
Most of the cattle distributed in the country are raised in Antioquia.
4- Mining
Gold and silver mines abound in the region. For this reason, mining is one of the activities that produces the highest income.
It is also rich in iron, zinc, marble, asbestos, copper and lead.
There are so many wealth in the area that during the 19th century it represented the main source of income.
Impressively, the largest cement factory in Latin America is being built in Antioquia. In their hands is the production of approximately 60% of the country.
5- Electronics
Local electronic parts manufacturing dominates much of the market in the state.
The promotion of technology has been part of state policies. Through this they have managed to position large electronics and electrical appliance companies in the department.
They have also taken ground in the manufacture of medical and electromechanical equipment.
This sector has been developed both for domestic consumption and for export.
6-
One of the roots of the Colombian textile industry is Antioquia.
Much of the textile products come from this region, which makes this sector one of the strongest.
Recently textile specialists have filed complaints and gone on strike. They feel forgotten by the central government.
But measures have been taken and the producers assure that the industry will not suffer.
References
- Antioquia: important engine of the Colombian economy. (2014) sectorial.co
- Review of the department of Antioquia. fonade.gov.co
- Long-term economic growth in Antioquia, Colombia. GDP estimation, 1800-1913. (2015) Mejía, J.
- Review of Higher Education in Regional Development of Antioquia, Colombia. oecd.org
- Antioquia, fact sheet. (2017) colombiareports.com