Exporting products to other countries is one of the many fundamental factors to have a stable nation’s economy; For example, in the case of Colombia, lExternal sales in April 2024 alone represented US$4,408.8 million FOB (Free On Board) and created “a growth of 17.9%,” explained the Administrative Department of National Statistics (DANE). Likewise, conquering new territories contributes not only to the generation of money, but also allows the strengthening of employment in the country.
According to the Observatory of Economic Complexity (OEC), Colombia, as of 2022, It was positioned as “the 43rd economy in the world in terms of GDP, number 53 in total exports, number 50 in total imports, number 98 economy in terms of GDP per capita and number 58 most complex economy.”
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Factors for Colombia to export
Colombia, being a privileged territory, has several relevant factors that They help you stay current in foreign trade; As explained by the shipping company ‘TCC’, these are:
- Have exploitable natural resources.
- Geographic location with access to two oceans and borders with various countries.
- Favorable policies for carrying out foreign trade.
Referring to the latter, the Ministry of Labor mentions that Colombia has to date 10 Free Trade Agreements (FTAs) in force to export to 45 countries located on different continents; For example, Chile, Mexico, Switzerland, Iceland, United States, Guatemala, among others.
What are the products that Colombia exports the most?
According to what is explained by the Observatory of Economic Complexity (OEC), the Colombia’s main exports are:
- Raw oil with approximately $16.1 MM dollars.
- charcoal briquettes with approximately $12.9 MM dollars.
- Coffee with approximately $4.15 MM dollars.
- refined oil with approximately $2.64 MM dollars.
- Gold with approximately $2.59 MM dollars.
Both these and other products were exported mainly to USA ($15.6 MM), Panama ($5.84 MM), Netherlands ($3.67 MM), India ($2.55 MM), and Brazil ($2.39 MM), adds the OEC.
List of products that are most imported into Colombia, according to the OEC
Just as there is a group of products that are sent from Colombia to other parts of the world, There are also agreements signed to import; In that sense, the OEC suggests that these would be: refined oil ($6.26 MM), cars ($2.73 MM), transmission equipment ($2.64 MM), corn ($2.02 MM) and packaged medicines ($1 .77 MM). Brought mainly from the United States ($19.4 MM), China ($18.1 MM), Brazil ($5.16 MM), Mexico ($3.6 MM) and Germany ($2.24 MM).
Who can export in Colombia?
As explained by the National Tax and Customs Directorate (DIAN), who can export products in Colombia are “the natural persons, legal entities and branches of foreign companies that are registered in the RUT and have the status of exporting customs user.”
