Chinese Products Constitute 20% of Colombian Imports

The penetration of Chinese industries into Colombian consumption is increasing, particularly in markets such as cell phones and electric and hybrid vehicles, where the Asian country is leading the market. In 2023, Chinese goods represented US$13,567 million, which is 20% of goods that entered Colombia through the ports.

With Xiaomi and Huawei, the Chinese market is leading Colombian consumption in the technology sector. Since the launch of Xiaomi in 2018, the brand has experienced exponential growth in Colombia, even doubling Huawei’s figures in the last period. Specifically, Xiaomi represented around 21% of the market share in 2023, which represented a growth of 900% compared to 2019, according to data from Statista Magazine.

China leads Colombian imports

Oppo, Lenovo, and Alcatel are also included as representative Chinese brands within the market concerning the percentage of sales. The five mentioned brands represented 33.04% of total smartphone sales in Colombia in 2023, proving to be notable competitors against historically better-known brands in Colombia such as Samsung or Apple.

The global electric vehicles market too has been led lately by BYD, the Chinese automotive subsidiary, which, according to Bloomberg, surpassed Tesla in sales in the last quarter of 2023. In Colombia, according to The National Sustainable Mobility Association, 14,588 Chinese cars were registered last year, representing 5.5% of total sales. Although 2023 represented a general drop in vehicle sales in the country, Chinese hybrids and electric vehicles accounted for 10,732 sales and 5.7% of the total.

To better grasp the scale of these imports, it’s essential to note that China’s exports to Colombia nearly match those of its primary trading partner, the United States, with a difference of only $2,431 million in total imports between the two countries.

Trade evolution: from import surge to export progress

Colombia saw a surge in imports from China starting in 2005, data from the National Administrative Department of Statistics (DANE) shows. That year, China ranked behind countries like Mexico and Venezuela in terms of the volume of goods sent to Colombia. From 2006 onwards, China emerged as a key source for Colombian imports, including a wide range of products such as recording devices, machinery, components for nuclear reactors, plastics, manufacturing materials, and organic chemicals.

In recent weeks, Colombia has made significant progress in the admissibility of exports to China, particularly with products such as Tahiti lemon, pork, and shrimp. This progress marks a consolidation of trade relations between the two countries. Agreements established between the Ministry of Agriculture and members of the General Administration of Customs of China have facilitated the development. This signifies a dialogue aimed at enhancing market expansion with one of the most important and dynamic countries in the global economy today.