Colombia – Latin America’s fourth largest economy - has undergone a massive transformation in the last 10 to 20 years. Colombia’s economy has grown steadily over the past decade and is now one of the best-performing economies in Latin America. Colombia’s top exports include a diverse range of products, and these play a vital role in driving the economy.
Here is a look into Colombia’s top eight exports.
Oil & Petroleum
Colombia produces on average more than 800,000 barrels per day (bbl/d) and is ranked 22 among the world’s top oil-producing countries and is the 4th largest oil producer in Latin America following Brazil, Venezuela and Mexico. Key trading partners include the United States, China, and Panama.
Coal
Colombia is one of the world's major coal exporters and has the largest coal reserves in Latin America. Most of the Colombian coal is produced in one of the 32 Departments of Colombia - La Guajira - in the north-east of the country. Key trading partners for Colombian coal include the United States, the Netherlands, and Turkey.
Coffee
Coffee is one of Colombia’s most iconic exports, and is the third biggest coffee producer in the world, following Brazil and Vietnam. Colombian coffee is 100% arabica. Approximately 40% of Colombia Coffee exports goes straight to the United States. Most Colombian coffee is produced in the Eje Cafetero (coffee zone) in the centre of the country – one of the best places to visit in Colombia. Key trading partners for Colombian coffee include the United States, Germany, and Japan.
Flowers
Colombia has approximately 1,500 different types of flowers and is one of the largest exporters of cut flowers globally. Colombia even has a feria (festival) to celebrate them, called “La Feria de las Flores" in Medellín. This should not come as a surprise as Colombia is the second-most bio-diverse country in the world. Key trading partners for Colombian flowers include the United States, the Netherlands, and Russia.
Bananas
Colombia is the world's fifth largest banana exporter, and the industry employs approximately 150,000 people across the country. Colombia is known for its exotic fruits and on every street corner, you can find stalls selling fresh fruit juice and other food delights. Key trading partners include the United States, the European Union, and Russia.
Gold
Mining is a significant sector in Colombia and the country has gold reserves in abundance. Even the Nobel Peace Prize received by former president of Colombia Juan Manuel Santos in 2017 was made by gold produced in Colombia. Key trading partners for Colombian gold include the United States, Switzerland, and the United Arab Emirates.
Other minerals
Mining of minerals accounts for approximately 25-30% of Colombian exports. These include nickel ores and concentrates, silver, platinum, copper and uranium, which are all mined across Colombia. Colombia is also the largest exporter of high-quality emeralds in the world. Key trading partners include China, United Arab Emirates, Germany, Peru and Venezuela.
Avocados
You can’t get through a visit to Colombia without trying their green gold – a term the avocado has been labelled lately. Colombia has produced significantly more avocados over the last few years and is now ranked as the world’s second largest producer, following Mexico. Key trading partners for Colombian avocados include the United States, the Netherlands, and Spain.
If you would like to learn more about Colombia or about our internship programs in South America. Please contact a member of our team. This blog post was written & published by Intern Colombia on 06 December 2023 Sources: https://thetradecouncil.com/major-exports-of-colombia/
https://www.statista.com/statistics/1191231/products-exported-from-colombia/
https://wits.worldbank.org/CountrySnapshot/en/COL/textview
https://www.bananalink.org.uk/
