The National Administrative Department of Statistics (DANE) reported on April 4 that Colombia’s exports fell 10.1% last February compared to the same period the previous year. In summary, sales to foreign markets represented US$3.810 million last February, while in the same month of the previous year, it was US$4.238 million.
The report explains that the decline was primarily driven by a 23.4% decrease in fuel sales, with this group representing 47.7% of the exported value for that month. Also, the reduction in the contribution of extractive industries was 35.9% in products such as coal, coke, and briquettes, which ended up affecting the overall balance. Furthermore, 12.5 million barrels of oil were exported, representing a 17.8% reduction compared to 2023.
The positive perspective for Colombia’s exports
On the other hand, manufacturing exports increased by 3.5%, reaching US$796.2 million, attributed to higher external sales of machinery and transport equipment (37.1%) as well as chemicals and related products (7.9%). Similarly, the agricultural, food, and beverage sectors experienced an increase of 13.1%, reaching US$963.5 million. DANE highlighted exports of fresh or dried bananas and cut flowers and foliage.
“The good news is that the agricultural sector grew substantially. When the results are looked at comprehensively, the growth in exports of agro-industrial products and manufactures is positive,” stated Javier Díaz, president of the National Foreign Trade Association, on social media.
Analdex also emphasized Hass avocado as one of the most desirable products internationally, noting a 12.5% increase in 2023 compared to 2022. Antioquia and Risaralda were identified as the main exporting departments, with the Netherlands being the principal importer of the product.
Despite the United States being the primary destination for Colombian exports, representing a 26.9% share of the total export value, there was a notable 15.3% decrease in exports to the country. This decline was primarily attributed to reduced external sales of crude oil, which saw a significant drop of 32.8% compared to February 2023. Following the United States, other significant export destinations included Panama, India, Brazil, Mexico, Ecuador, and Puerto Rico.
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