Colombia Freight and Logistics Market Size (2024 - 2029)

Colombia Freight & Logistics Market Analysis

The Colombia Freight and Logistics Market size is estimated at USD 20.39 billion in 2024, and is expected to reach USD 29.44 billion by 2029, growing at a CAGR of 7.62% during the forecast period (2024-2029).

After a near-16% GDP drop in the second quarter of 2020 due to the COVID-19 pandemic, the economy began to recover in the third and fourth quarters. Four economic activities in 2020 exhibited positive trends when compared to the previous year's figures. Agriculture grew at a rate of 2.8%, followed by banking and insurance (2.1%), real estate (1.9%), and government administration (1%).

Road freight transport is the dominant mode of transportation in this country. The logistics landscape is becoming more competitive, with international players expanding into the region with strategies such as acquiring local companies. In July 2021, Colombia's COP 749 billion (USD 200 million) Puerta de Hierro-Cruz del Viso corridor was the second project finished under the country's 4G highways program. Several important road projects are now progressing in Colombia. Colombia's national infrastructure agency ANI says that seven of the country's fourth-generation (4G) road projects finished during 2021. A further 10 are expected to be completed during 2022, while one was completed in 2020.

As reported in August 2021, Colombia and the United Kingdom have reached an agreement on GBP 400,000 (about USD 550,000) to promote the revival and strengthen the country's railway operation. The air transport sector is one of the fundamental development engines of the country, which is why the Ministry of Transport has committed itself to strengthen the airport infrastructure with the delivery of fully modernized air terminals. The maintenance of those is required in the case of the Cafe Airport.

Colombia's exports in 2020 were USD 31,056 million, down by 21.4% from the previous year due to the global crisis caused by the coronavirus pandemic. According to the National Department of Statistics (DANE), the main reductions in the year were recorded in foreign oil sales, with a 45.2% drop, falling to USD 8,729 million. According to an industry survey, retailers have turned their stores into small warehouses to respond fast to requests due to a rise in online order volume. In 2021, 78% of logistics and transportation companies made same-day deliveries.

Colombia Freight & Logistics Industry Segmentation

Freight and logistics involve road, rail, sea, air transportation, and supporting services, such as warehousing, storage, freight forwarding, and customs brokerage for both domestic and international trade. The report provides a complete background analysis of the Colombian freight and logistics market, including an assessment of the economy, market overview, market size estimation for key segments, emerging trends in the market, market dynamics, and key company profiles. The report also covers the impact of COVID-19 on the market.

The market is segmented by function (freight transport, freight forwarding, warehousing, courier, express, and parcel, value-added services, cold chain logistics, last mile logistics, return logistics, and other emerging areas), and end user (construction, oil and gas and quarrying, agriculture, fishing, and forestry, manufacturing and automotive, and other end users (pharmaceutical and healthcare)).