What Does Colombia Export to the World?

tendata blogExport News

ten data blog22-04-2024

Situated in the northwest region of South America, Colombia boasts a diverse economy with a significant focus on exports. In 2023, Colombia exported products worth $49.5 billion globally, showcasing its role as a key player in the international trade landscape. Exploring Colombia's export profile offers valuable insights into its economic strengths, trade partnerships, and top export commodities.

Colombia's Valuable Trade Partners

Colombia's export ecosystem relies on robust trade partnerships with countries across the globe. According to the latest specific country data, 65.9% of Colombia's exports are purchased by importers from the following nations:

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1. United States (26.71%, $13.08 Billion)

2. Panama (9.45%, $4.63 Billion)

3. India (4.89%, $2.4 Billion)

4. China (4.4%, $2.16 Billion)

5. Ecuador (4.1%, $2.01 Billion)

6. Netherlands (4.03%, $1.98 Billion)

7. Brazil (3.87%, $1.89 Billion)

8. Mexico (3.75%, $1.84 Billion)

9. Spain (2.36%, $1.16 Billion)

10. Peru (2.32%, $1.14 Billion)

From a continental perspective, 33.8% of Colombia's exports are destined for North American countries, while 29.3% are directed towards importers in Latin America. Colombia also exports goods worth 19.3% to Asia. The proportions from Europe (15.5%), Africa (1.8%), and Oceania (0.3%) are relatively smaller, with Australia and New Zealand being prominent among them.

Colombia's Top Exported Products:

Colombia's top ten export products collectively account for four-fifths (80.4%) of its total exports:

1. Mineral Fuels, including Petroleum: $25 Billion (50.5%)

2. Gems, Precious Metals: $3.6 Billion (7.3%)

3. Coffee, Tea, Spices: $2.9 Billion (5.9%)

4. Live Trees, Plants, Cut Flowers: $2.1 Billion (4.3%)

5. Plastics, Plastic Products: $1.6 Billion (3.1%)

6. Fruits, Nuts: $1.4 Billion (2.7%)

7. Animal, Vegetable Fats, Oils, Waxes: $851.1 Million (1.7%)

8. Aluminum: $842.6 Million (1.7%)

9. Machinery, Equipment: $787.7 Million (1.6%)

10. Sugar, Confectionery: $744.2 Million (1.5%)

Electrical machinery and equipment experienced the fastest growth among Colombia's top ten export categories, increasing by 20.2% from 2022 to 2023. Aluminum ranked second in export sales improvement, growing by 15.7%. Colombia's export volume of sugar, including confectionery, ranked third in terms of growth, expanding by 15.5%.

The product category with the largest decline among Colombia's top ten exports is coffee, tea, and spices, with a year-on-year decrease of -29%.

In-Depth Analysis with Tendata

When making investment decisions regarding specific products, further detailed data may be required. At a more granular level of four-digit HSN codes, Colombia's top ten export products in 2023, according to Tendata's export data, are:

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1. HS Code: 2709000000 (25.36%, $12421.45 Million): Petroleum oils and oils obtained from bituminous minerals, crude

2. HS Code: 2701120010 (15.45%, $7566.6 Million): Metallurgical coal

3. HS Code: 7108120000 (6.48%, $3175.18 Million): Gold, incl. gold plated with platinum, unwrought, for non-monetary purposes (excluding gold in powder form)

4. HS Code: 901119000 (5.42%, $2653.9 Million): Coffee (excluding roasted and decaffeinated): Coffee other, neither roasted nor decaffeinated

5. HS Code: 2704001000 (2.27%, $1110.17 Million): Coke and semi-coke of coal, of lignite or of peat, whether or not agglomerated; retort carbon: Retort carbon (gas carbon)

6. HS Code: 603199090 (2.04%, $997.67 Million): Fresh cut flowers and buds, of a kind suitable for bouquets or for ornamental purposes (excluding roses, carnations, orchids, chrysanthemums and lilies) (detailed label not available)

7. HS Code: 2710192100 (1.97%, $963.46 Million): Jet fuel, kerosene type

8. HS Code: 2710192200 (1.89%, $925.21 Million): Medium oils and preparations, of petroleum or bituminous minerals, not containing biodiesel, n.e.s.: Petroleum oils and oils obtained from bituminous minerals (other than crude) and preparations not elsewhere specified or included, containing by weight 70

9. HS Code: 803901100 (1.64%, $801.81 Million): Bananas including fresh cavendish valery bananas

10. HS Code: 2710191500 (1.61%, $789.47 Million): Medium oils of petroleum or bituminous minerals, for undergoing chemical transformation (excl. for specific processes specified in additional note 5 to chapter 27)

Utilizing Tendata's export database provides businesses with comprehensive insights into market trends, competitor analysis, and potential opportunities for growth and expansion in Colombia's export market.

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1. Are Free Customs Data Useful?

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3. Customs Data ≠ Foreign Trade Data; Having Customs Data Alone Is Not Enough

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