Colòmbia: Visió econòmica i política
Colombia's foreign trade represents around 40.9% of the country’s GDP, according to the World Bank’s latest figures. Colombia mainly exports petroleum oils (32.9%), coal (18.3%), coffee (7.2%), gold (5.2%), and cut flowers (3.6%), whereas the country's main imports include petroleum oils (8.8%), telephone sets (3.9%), motor vehicles (3.5%), aircrafts (3%), maize or corn (2.8%), and medicaments (2.6% - data Comtrade 2022).
According to data from Comtrade, in 2022, the main export partners were the United States (26.9%), Panama (10.2%), Netherlands (4.7%), India (4.3%), and Brazil (4.1%); with imports coming chiefly from the United States (24.5%), China (24.2%), Brazil (7.1%), Mexico (5.4%), and France (3.2%). Colombia has signed trade agreements with the ANC countries (Andean Community of Nations), the MERCOSUR countries, the Central American and Caribbean countries and the European Union. Along with Mexico, Chile and Peru, Colombia founded the Pacific Alliance in 2012, designed to boost trade relations with Asian emerging markets. The country is also part of numerous free trade agreements with Chile, Guatemala, Honduras, El Salvador, Canada, Mexico, Switzerland, Norway, Iceland, Liechtenstein and the United States. The free-trade agreement with the United States, which came into force in May 2012, has had a particularly large impact in the Colombian economy, given that the United States is the country's biggest trade partner.
In 2022, the country’s goods exports increased by 41.4% to USD 57 billion, with imports following a slower pace (+26.6% y-o-y) to USD 77.4 billion. As per services, exports stood at USD 12.2 billion against USD 17.5 billion in imports (data WTO). The overall trade deficit was estimated at 7.2% of the country’s GDP, from 7.6% one year earlier (World Bank). According to data from DANA, in 2023, imports in Colombia fell by 18.9% y-o-y, while exports increased by 25.5%. The decrease in Colombian exports has also resulted in only a 3.8% growth in the number of national companies reaching international markets: from 8,890 companies in 2022 to 9,228 in 2023.
Foreign Trade Values | 2019 | 2020 | 2021 | 2022 | 2023 |
Imports of Goods (million USD) | 52,703 | 43,489 | 61,101 | 77,413 | 62,797 |
Exports of Goods (million USD) | 39,489 | 31,008 | 40,287 | 56,999 | 49,545 |
Imports of Services (million USD) | 14,952 | 10,150 | 14,190 | 18,035 | 16,569 |
Exports of Services (million USD) | 10,668 | 5,915 | 8,171 | 13,627 | 15,242 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2018 | 2019 | 2020 | 2021 | 2022 |
Foreign Trade (in % of GDP) | 36.5 | 37.6 | 34.1 | 40.2 | 48.6 |
Trade Balance (million USD) | -6,394 | -9,863 | -8,870 | -13,984 | -12,028 |
Trade Balance (Including Service) (million USD) | -10,556 | -14,148 | -13,105 | -20,002 | -16,427 |
Imports of Goods and Services (Annual % Change) | 5.8 | 7.3 | -19.9 | 26.7 | 23.9 |
Exports of Goods and Services (Annual % Change) | 0.6 | 3.1 | -22.7 | 15.9 | 14.9 |
Imports of Goods and Services (in % of GDP) | 20.6 | 21.7 | 20.6 | 23.9 | 28.1 |
Exports of Goods and Services (in % of GDP) | 15.9 | 15.9 | 13.5 | 16.3 | 20.5 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2024 | 2025 (e) | 2026 (e) | 2027 (e) | 2028 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | -5.4 | -1.5 | 2.5 | 2.1 | 2.7 |
Volume of imports of goods and services (Annual % change) | -1.5 | 1.7 | 4.0 | 3.5 | 3.6 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
- Latin American Association of Integration - ALADI
- Andean Community - CAN -Colombia, Equator, Peru, Bolivia
- CAN - Mercosur
- Central American and the Caribbeans
- FTA - Free Trade Agreement Colombia and Chile
- FTA Colombia, El Salvador, Guatemala and Honduras
- FTA Colombia, Peru and Canada
- FTA G2- Group of Two - Colombia and Mexico
- FTA Colombia and Peru - EFTA
- FTA Colombia and United States
- Trade Union CAN - UE
Colombia is part of the Pacific Alliance.
For more information consult this link.
Main Customers (% of Exports) |
2023 |
United States | 28.4% |
Panama | 9.4% |
China | 5.0% |
India | 4.8% |
Netherlands | 4.1% |
See More Countries | 48.4% |
Main Suppliers (% of Imports) |
2023 |
United States | 25.8% |
China | 21.6% |
Brazil | 6.4% |
Mexico | 4.9% |
Germany | 3.7% |
See More Countries | 37.5% |
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import-Export Flows.
Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: May 2024