Image: Prins Productions/stock.adobe.com

Image: Prins Productions/stock.adobe.com

Colombia: Beverage sector fails to contain decline

The beverage sector has always played a crucial role in the Colombian industry, being one of the most important sectors in terms of its contribution to the country's Gross Domestic Product (GDP).

However, despite the importance of the beverage sector in the Colombian food industry, according to the latest results from National Statistical Institute (DANE), the growth of the sector in recent years was lower than that of the economy. This is manifested in the loss of participation of the beverage industry in total GDP between 2005 and 2023, which went from 0.97 percent to 0.86 percent. In 2023, Colombian beverage exports fell by 15 percent in terms of value and 3.7 percent in terms of quantities. These results worry an industry that has not been able to recover from the economic blows after the pandemic.

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