Company Formation
What are the Opportunities in Andean Latin America?
Published dateFebruary 16, 2016
Last updateOctober 18, 2022
Reading time3 minutes
The Andean Community (CAN) is a South American Customs Union which is comprised of Bolivia, Colombia, Peru and Ecuador; consisting of over 100 million inhabitants living in an area of almost 5,000,000 Sq. Kms and with a combined GDP of approximately US$1000 billion.
The Andean Community (CAN) is a South American Customs Union which is comprised of Bolivia, Colombia, Peru and Ecuador; consisting of over 100 million inhabitants living in an area of almost 5,000,000 Sq. Kms and with a combined GDP of approximately US$1000 billion.
Business Opportunities in Bolivia
Bolivia is the smallest country within the Andean Community, both by geographic size and economic capacity, with a National GDP of approximately USD$33.2 Billion (2015). In the most recent “Doing Business 2016” report, the country was ranked as the (157) best country for doing business (the lowest within the CAP). Key national industries include mining (silver, gold), mineral processing (tin), petroleum, agriculture, textiles and jewelry.
Colombia – The Entrepreneur of Latin America
Colombia has the largest economy within the CAN, with a national GDP of over USD$292Bn (2013). The country has experienced sustained economic growth in recent years, despite a continuing internal armed conflict. It is the only country in South America with coastlines on both the Pacific Ocean and the Caribbean Sea; making international trade a viable option. In the most recent “Doing Business 2016” report, the country was ranked as the (54) best country for doing business. Key industries include food processing, flowers, textiles, mining (gold, coal, emeralds), petroleum and chemicals.
Peru – The Fast Growing Economy of Latin America
Peru is continuing to enjoy the benefits of a strong and expanding extractive industry sector, with the national GDP reaching USD$189Bn (2015). The country is the third largest in South America, and is borders the South Pacific Ocean, between Chile and Ecuador. In the most recent “Doing Business 2016” report the country was ranked as the (50) best country for doing business (which is the highest ranking within the Andean Community). Key national industries are petroleum, natural gas, (gold, copper and base metals), fishing, textiles, steel and heavy metal fabrication.
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