Foreign investment into the Colombian economy in the first trimester of 2011 was the highest in the country’s history, reported Trade Minister Sergio Diaz-Granados.
Investment grew 132.5% from January to April of 2011 compared with the same period in 2010, hitting a total of $3.698 billion. According to Diaz-Granados, this figure equals 55% of the total investment that occurred over the course of 2010, and is the highest first trimester investment figure in Colombia’s history.
According to central bank figures, foreign direct investment in the oil sector grew by 122.9%, while the overall level of investment in the mining and oil sector relatively decreased, dropping from 74.9% of total investments in 2010 to 57% for the same period in 2011.
Meanwhile, participation in other sectors rose from 25.1% to 43%. The sectors that saw the most growth were transportation, storage and communications, with a 2,040.7% annual growth, and commerce, restaurants and hotels, with a 1,090.3% annual growth.
The minister said that it is possible that foreign investment could reach $9.7 billion by the end of the year, reported Caracol Radio.