Replacing imports with national products

 replacing imports

On my last two posts, I have talked about subjects related with things we can make in crisis eras. Therefore, I mentioned the importance of having businesses in our economy and also on other economies, and also about the importance of investing in the sales of our companies. Today I will also write about another subject related with financial crisis.

When we talk about crisis automatically we think about adverse situations that anyone wants to face. However, we know this type of situations are presented to us as opportunities to learn and change our status quo. Many companies that are huge today where born on this type of eras, where the majority where worried and complaining and they where seeking opportunities.

On the actual crisis, where the problem that is hurting many countries is that with the price drop of petroleum the price of the dollar increased, many people are worried and don’t know what to do. The important thing to do is look for opportunities and we have many of them.

As I mentioned some posts ago, one opportunity is exporting, but it is not the only one. When we are worried because the price of the dollar increased, it means we have an economy based on imports, that with the new situation their price increased. Therefore, an excellent opportunity is replacing imports with national products. This idea will not be possible on every industry, because it is true that many of our imports are products we are not able to do in our country, however we have other industries we can recover or develop.

In the case of my country, Colombia, before we had economic aperture, we had many industries on our nation highly developed, that where decreased or eliminated when they weren’t able to compete with the prices of the imported products. However, with the new price of the dollar they might become competitive and develop again.

Is it very difficult what I am stating? Sure it is. However, it it necessary if we want to face victoriously this new economic order that is being presented to us.


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