In the most recent edition of the Business Rhythm Survey, carried out by the Bogotá Chamber of Commerce (CCB, as per the acronym in Spanish) with the support of 25 other chambers of commerce in the country, it was revealed that there was growth in the first half of 2022 compared to the past period.
The study, which is carried out twice a year, revealed that after four consecutive six-month periods with a negative balance, sales rebounded in the first half of 2022. In the case of Bogotá, a 32% increase in sales was recorded.
Not only was there an increase in the number of total sales, there was also a notable increase in the half-year average of sales with 23% in Bogotá; the rest of the country sat at 22%.
Contenidos relacionados
More than 460 companies affiliated to the CCB were consulted between August 1st and 5th for the analysis, with participants asked about their sales, exports, employment, and investment performance.
One element to highlight was revitalization of employment, which continues to grow in this post-pandemic period. The number of Bogotá companies interested in hiring more workers increased by 20% in the first half of 2022.
Below is a tweet from the Bogotá Chamber of Commerce about the press conference for the Business Rhythm Survey:
Abrimos la rueda de prensa de la Encuesta Ritmo Empresarial. En el primer semestre de 2022, las ventas repuntaron después de 4 semestres consecutivos de balance negativo. El 32% de las empresas de Bogotá registró aumento en las ventas, mientras que a nivel nacional fue el 29%. pic.twitter.com/CRsTNVY8dD
— Cámara de Comercio de Bogotá (@camaracomerbog) September 5, 2022
On the subject of exports, more and more companies have shown interest in making their way into this market. In the first half of 2022 the percentage of companies that exported increased by 4pp compared to the previous measurement. It went from 7% to 11%, surpassing the national record, which was 5.1%.
The main destinations for exports, according to the survey, are: United States, Ecuador, Chile, Peru, Venezuela, Panama, Germany, and Costa Rica.
In the same study, it was also revealed that there are barriers when it comes to exporting. The majority of companies that do not export stated that it was due to a lack of interest; however, the percentage of answers of this type from business in the Colombian capital is barely 29%.
The second reason for not exporting, in the case of companies in Bogotá, is the lack of knowledge of the procedures to be able to do so.
Finally, the study also confirmed that digital transformation is already a reality in companies; in Bogotá, 59% of companies stated that they have already carried out this process or are currently doing so.
Find the 2022 Business Rhythm Survey of the Bogotá Chamber of Commerce by clicking here.
