Colombia’s most important exports

Crude oil, coffee, gold and flowers are some of Colombia’s most exported products and those that have most conquered foreign markets. The United States, Panama, China, India and Brazil are the destinations to which they arrive the most, with this first country being the one with the most growth has had during 2023.
In the last five years, the gap between sales and purchases abroad increased by 17.3%.
This behavior is directly proportional to the average growth of exports and imports. Although the general picturehas not been beneficial due to global inflation, lower consumer demand and the decline in exports of oil, coal and their derivatives, Colombia has managed to maintain itself. Between January and October In 2023, $2,269 million in fuels and other fossil products were exported, which represented, by far, the largest part of the country’s exports. In second place, the manufacturing category reached 875 million dollars in sales international.
At the beginning of December, The Organization for Economic Cooperation and Development (OECD) announced that by 2024 there will be a decrease in economic growth expectations for the territory, adjusting to 1.4%.
All this with the objective to have a more cautious look at the numbers for the short and medium term. The aforementioned organization anticipates a decrease in inflation, a crucial indicator for evaluating economic health, which should reach 5% by the end of 2024. It is expected that sustain within a range of 2 to 4% during the second half of 2025, thus indicating economic stabilization.