ColombiaOne.comColombia newsColombia's Non-Extractive Exports Grow in 2024

Colombia’s Non-Extractive Exports Grow in 2024

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Colombia non-mineral-energy exports
In the first quarter of 2024, Colombia’s non-extractive exports grew by 2.5 percent, with a turnover of almost US$5 billion – Credit: Darvin Salamanca / Colombia One

Colombia’s non-extractive exports grew in the first quarter of 2024. Colombia sold US$4,970.7 million in non-mining goods to the world during the first three months of this year. The country shipped 2.1 million tons of goods, which represents 10.5 percent more compared to the same period of 2023.

Similarly, in the first quarter, Colombia exported 172.2 million dollars in non-mining goods to Venezuela, compared to 136.4 million dollars a year ago.

It should be noted that this category does not include exports from the mining and energy sector, such as oil, coal, or gold, which are the main goods that Colombia sells abroad.

Colombian non-extractive exports

Exports of non-extractive goods recorded an increase of 2.5% in the first three months of the year. In this period, sales reached 4,970.7 million dollars, while in the same period of 2023 they amounted to 4,848.2 million dollars.

As for the volume of these exports, in the first quarter of 2024 the country shipped 2.1 million tons, while a year ago they were 1.9 million, which represents 10.5 percent more.

The Minister of Commerce, Industry and Tourism, German Umaña, expressed his satisfaction with the growth that non-mining exports continue to show, and explained that “one of the Government’s policies is the transformation of the productive fabric that favors the expansion of markets, diversification and value addition in productive and exporting activities, and linkages”.

Within non-mining goods, the agricultural sector was the one that presented the best performance in its sales to the world. However, there were several industrial products that also helped to boost this type of exports.

Food sector pushes exports upward

The data from the Ministry of Commerce, Industry, and Tourism show that among the products that helped drive the growth of non-mining exports, there are several components from the food sector.

Tilapia fillet, a type of fish commonly found in Colombia and Central America, recorded a 115.5 percent increase in exports compared to the first quarter of 2023. Likewise, bananas saw an 84.9 percent growth, and Tahiti limes had a positive variation of 60.3 percent. Exports of Hass avocados also grew by 34.7 percent; sugar exports increased by 17.5 percent; and exports of chocolates, candies, and confections grew by 3.3 percent.

Outside the food sector, products like cargo and passenger vehicles saw a 74.4 percent increase in their exports. Exports of polyvinyl chloride increased by 18.4 percent; beauty preparations by 16.8 percent; and flowers, a very important productive sector in the Andean region of the country, grew by 7.8 percent.

By departments, among the top 10 exporters based on their participation in the non-mining basket, five helped drive these types of sales and represent 50.5 percent of these types of exports. Risaralda, Bogota, Magdalena, Huila, and Antioquia collectively exported a total of $2.509.3 million in the first quarter, showing a growth of 16.5 percent compared to the same period in 2023, when they totaled $2.154.3 million.

Colombia non-extractive exports
Colombian flower exports increased during the first quarter of 2024 – Credit: Josep Freixes / Colombia One

ProColombia and assistance to exporting entrepreneurs

The Deputy Minister of Foreign Trade, Luis Felipe Quintero, explained that the Ministry of Commerce, Industry and Tourism, through entities such as ProColombia, makes its institutional offer available to entrepreneurs in the regions to advise them in their processes and thus achieve more new business.

“Through ProColombia we attend to companies producing or trading goods located in the different territories, to accompany them and help them make contact with international buyers. We also support them in participating in international exhibitions and fairs,” Quintero explained.

Since its creation in 1992, ProColombia has been the public organization in charge of promoting tourism and foreign investment in Colombia, as well as non-mining energy exports and the promotion of the country’s image.

Exports to Venezuela are on the rise

Among the fastest growing destinations for Colombian products are countries such as Belgium, Venezuela, China, Mexico and Chile. In the first quarter, a total of US$906.6 million was exported to these destinations, compared to US$737.1 million in the first quarter of 2023.

In these first three quarters of 2024, Colombia exported 172.2 million dollars in non-mining goods to Venezuela, compared to 136.4 million dollars a year ago. Venezuela has not only increased its participation in non-mining exports and reached 3.5 percent in this first quarter, but they grew at double digits: 26 percent.

Sweets, milk, soybean oil, fertilizers, confectionery, crackers, palm oil, centrifugal pumps and electric accumulators are among the products sold to Venezuela.

Colombia non-extractive exports
The reopening of the borders between Colombia and Venezuela restored the flow of trade between the two countries – Credit: X.com / @petrogustavo

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