Headquarters of Argos Company, the first cement industrial group of Colombia.[44]The present-day economy of Medellín is one of the largest of Colombia and is led by a powerful group of people from the private sector known as the Grupo Empresarial Antioqueño (Antioquian Enterprises Group). (It was known as the Sindicato Antioqueño -Antioquian Union-, but after being mistakenly associated with working unions abroad, which hampered its international growth for many years; the more formal name was created) .

Represented by David Bojanini; who leads Suramericana de Seguros (an insurance conglomerate), Carlos Piedrahita; with the Compañía Nacional de Chocolates (Food industry), José Alberto Velez; Cementos Argos (a multinational cement company) and Jorge Londoño; leading Bancolombia, nyse (cib), (Colombia's largest bank). Together they consolidated this group that has an aggregate market capitalization of approximately US$17 billion dollars and who employ more than 80,000 Colombians.[45]

This group also participates in other sectors of the city industry and is an active trader in the Colombian stock exchange. The city serves as headquarters for many national and multinational companies and its centers of higher education constantly contribute to the modernization of the region and its industry.

Tourism has strongly developed in the city in recent years. The main economic products are steel, textiles, confections, food and beverage, agriculture (from its rural area), public services, chemical products and pharmaceuticals, refined oil and flower exports.

Gross domestic product

Edificio Inteligente (The "Intelligent Tower"), headquarters of the Public Enterprises of Medellín (EPM).According to Proexport Colombia, the gross domestic product (GDP) can be studied in two areas: Medellín as a Metropolitan Area and Medellín itself. As a Metro Area, it contributes the 67% of the total State of Antioquia's GDP. As the only city it contributes the 55% of the GDP State. At its level the State of Antioquia is the second national economical region of Colombia. The Antioquia's GDP was by 2005 more than USD 14,700 and it is the first exporter State of Colombia.[46] The Aburrá Valley is the first economical concentration of the State and its GDP was of USD 7,800 million.[47]

In the National GDP, Medellín contributes the 8%. If we combined the Medellín GDP contribution with the one of Valle del Cauca State the total is 11%. It means that Medellín is the second economical region in Colombia after Bogotá as far as 2005.

The 2005 Report of the Economic Colombian Review of Proexport and the International Cooperation Agency of Medellín, concluded also that Medellín was at the same level of GDP contribution to the national economy with cities like Panama, and San José de Costa Rica. The % GDP contribution of Medellín to the national economy was superior to cities like Monterrey - Mexico (6,47%); Cali - Colombia (6,26%) and Miami - USA (0,58%).[48]

 Medellín Cluster

International Centre for Congresses and Expositions "Plaza Mayor" of Medellín, La Alpujarra area.Medellín created the first Colombian business cluster being with the Antioquia State the first exporter region of the country with 1,750 exporter enterprisers based in Medellín.[49] The Cluster was created with the support of the Chamber of Commerce of Medellín and the City Administration for an actual total of 21,000 companies that share the 40% of total exportations, the 25% of the regional GDP and the 40% of the Metro Area employment.[50] The main economical activities of the Medellín Cluster (MC) are located in electricity generation, textile, fashion design, construction, tourism and business.[51] As a goal of the MC is the inclusion of the health services, a sector that is also very important in the local economy.