ECONOMY OF CUNDINAMARCA: THE 5 MAIN ACTIVITIES - CULTURE VOCABULARY - 2024

The economy of Cundinamarca has among its main activities agriculture and livestock, the manufacturing industry (textile, metallurgical and pharmaceutical), commerce, mining and construction, the service sector being one of the most important.

It is a highly industrialized and diversified economy that represents almost 30% of Colombia's gross domestic product (GDP).

The department has a population of 10 415 904 inhabitants and a GDP per inhabitant of 15 073 018 pesos. According to official figures for 2013, this GDP is higher than that of the country.

A third of Colombian companies are located in the Cundinamarca territory, 8.5% of the country's total imports and 60% of imports.

The 5 most outstanding economic activities in Cundinamarca

1- Agriculture and livestock

Agriculture, livestock, forestry and fishing represent 10.7% of the regional GDP.

It has a very consolidated agricultural sector, which is one of its main economic activities.

It is a department that produces and exports flowers, with a high production of milk and other dairy products in the Bogotá savanna and the Ubaté Valley.

In addition to flowers, one of the most important agricultural items is the sugar cane, since it is the first national producer in this branch. It also produces coffee, with 3.9% of the national production.

In addition, corn, potato, sugar cane, barley and wheat, onion, banana, cassava, rice, cotton, beans, tomato, carrot and fruits are grown.

2- Manufacturing industry

Among micro, small, medium and large companies, the department of Cundinamarca had 382,000 registered companies in 2016, according to data from the Bogotá Chamber of Commerce. The manufacturing industry represents 10.4% of the region's GDP.

The department is a major producer of textiles (clothing, leather, and footwear), food, beverages, and tobacco.

The pharmaceutical and cosmetics manufacturing industry is highly developed, along with the metallurgical and metalworking industry (vehicles).

The Cundinamarca industry also manufactures wood, paper and cardboard, rubber and plastic products.

3- Trade

The economic structure of Cundinamarca is based on services for the most part. This sector represents 61% of its GDP.

Commerce generates 14.5% of the GDP of this region and is represented in hotels, restaurants, bars and vehicle repair and maintenance.

Cundinamarca ranks first in Colombia as an importer and exporter of products, and is the most important financial center in the country.

4- Mining

Historically, the department of Cundinamarca has been an important producer of coal and mineral salts, since it has several mines in areas such as Zipaquirá, Tausa and Nemocón.

Iron, lead and copper, and non-metallic minerals such as lime, gypsum, emeralds, sulfur, quartz and marble are also exploited in the region.

By 2013, a total of 222 mining companies between micro, small and medium were registered in the entity.

5- Construction

The construction industry is another important economic sector in the department. This has been underpinned by the existence of quarries of marble, plaster, iron and lime, essential for its development.

A total of 24,400 construction companies are registered in the department. This sector represents 22.5% of the regional GDP.

References

1. Herrera, Armando José. The Bogotá-Cundinamarca region: economic dynamics and potentialities. Retrieved on November 17 from observatorio.desarrolloeconomico.gov.co
2. Balance of the economy of the Cundinamarca region - Bogotá 2016. Retrieved from ccb.org.co
3. Economic and Political Inequality in Development: The Case of Cundinamarca, Colombia. Consulted from nber.org
4. Department of cundinamarca. Consulted of encolombia.com
5. Economy of Cundinamarca. Consulted from somoscundinamarca.weebly.com
6. Investment Opportunities in Bogotá DC - Cundinamarca. Consulted of investincolombia.com.co