Situated in the northwest region of South America, Colombia boasts a diverse economy with a significant focus on exports. In 2023, Colombia exported products worth $49.5 billion globally, showcasing its role as a key player in the international trade landscape. Exploring Colombia's export profile offers valuable insights into its economic strengths, trade partnerships, and top export commodities.

Colombia's Valuable Trade Partners

Colombia's export ecosystem relies on robust trade partnerships with countries across the globe. According to the latest specific country data, 65.9% of Colombia's exports are purchased by importers from the following nations:

1. United States (26.71%, $13.08 Billion)

2. Panama (9.45%, $4.63 Billion)

3. India (4.89%, $2.4 Billion)

4. China (4.4%, $2.16 Billion)

5. Ecuador (4.1%, $2.01 Billion)

6. Netherlands (4.03%, $1.98 Billion)

7. Brazil (3.87%, $1.89 Billion)

8. Mexico (3.75%, $1.84 Billion)

9. Spain (2.36%, $1.16 Billion)

10. Peru (2.32%, $1.14 Billion)

From a continental perspective, 33.8% of Colombia's exports are destined for North American countries, while 29.3% are directed towards importers in Latin America. Colombia also exports goods worth 19.3% to Asia. The proportions from Europe (15.5%), Africa (1.8%), and Oceania (0.3%) are relatively smaller, with Australia and New Zealand being prominent among them.

Colombia's Top Exported Products:

Colombia's top ten export products collectively account for four-fifths (80.4%) of its total exports:

1. Mineral Fuels, including Petroleum: $25 Billion (50.5%)

2. Gems, Precious Metals: $3.6 Billion (7.3%)

3. Coffee, Tea, Spices: $2.9 Billion (5.9%)

4. Live Trees, Plants, Cut Flowers: $2.1 Billion (4.3%)

5. Plastics, Plastic Products: $1.6 Billion (3.1%)

6. Fruits, Nuts: $1.4 Billion (2.7%)

7. Animal, Vegetable Fats, Oils, Waxes: $851.1 Million (1.7%)

8. Aluminum: $842.6 Million (1.7%)

9. Machinery, Equipment: $787.7 Million (1.6%)

10. Sugar, Confectionery: $744.2 Million (1.5%)

Electrical machinery and equipment experienced the fastest growth among Colombia's top ten export categories, increasing by 20.2% from 2022 to 2023. Aluminum ranked second in export sales improvement, growing by 15.7%. Colombia's export volume of sugar, including confectionery, ranked third in terms of growth, expanding by 15.5%.

The product category with the largest decline among Colombia's top ten exports is coffee, tea, and spices, with a year-on-year decrease of -29%.

In-Depth Analysis with Tendata

When making investment decisions regarding specific products, further detailed data may be required. At a more granular level of four-digit HSN codes, Colombia's top ten export products in 2023, according to Tendata's export data, are:

1. HS Code: 2709000000 (25.36%, $12421.45 Million): Petroleum oils and oils obtained from bituminous minerals, crude

2. HS Code: 2701120010 (15.45%, $7566.6 Million): Metallurgical coal

3. HS Code: 7108120000 (6.48%, $3175.18 Million): Gold, incl. gold plated with platinum, unwrought, for non-monetary purposes (excluding gold in powder form)

4. HS Code: 901119000 (5.42%, $2653.9 Million): Coffee (excluding roasted and decaffeinated): Coffee other, neither roasted nor decaffeinated

5. HS Code: 2704001000 (2.27%, $1110.17 Million): Coke and semi-coke of coal, of lignite or of peat, whether or not agglomerated; retort carbon: Retort carbon (gas carbon)

6. HS Code: 603199090 (2.04%, $997.67 Million): Fresh cut flowers and buds, of a kind suitable for bouquets or for ornamental purposes (excluding roses, carnations, orchids, chrysanthemums and lilies) (detailed label not available)

7. HS Code: 2710192100 (1.97%, $963.46 Million): Jet fuel, kerosene type

8. HS Code: 2710192200 (1.89%, $925.21 Million): Medium oils and preparations, of petroleum or bituminous minerals, not containing biodiesel, n.e.s.: Petroleum oils and oils obtained from bituminous minerals (other than crude) and preparations not elsewhere specified or included, containing by weight 70

9. HS Code: 803901100 (1.64%, $801.81 Million): Bananas including fresh cavendish valery bananas

10. HS Code: 2710191500 (1.61%, $789.47 Million): Medium oils of petroleum or bituminous minerals, for undergoing chemical transformation (excl. for specific processes specified in additional note 5 to chapter 27)

Utilizing Tendata's export database provides businesses with comprehensive insights into market trends, competitor analysis, and potential opportunities for growth and expansion in Colombia's export market.

1. Are Free Customs Data Useful?

In the current market, customs data come in two varieties: paid and free. As far as Tendata is aware, many customs data companies claim to have developed a free customs data system, but their core objective is to attract traffic and profit through secondary marketing.

In the current state of the industry, free customs data is primarily superficial public data. In this age of data, valuable information cannot be free. Tendata Data suggests it's better to spend money to purchase it, as Jack Ma once said, "Free is actually the most expensive." (>>> Click to get free customs data from 91 countries.)

2. Customs Data Ineffective? You Might Not Be Using It Right

Many customers often feel that customs data is ineffective or that they're only using a small portion of it when working with import and export data. Tendata Data would like to reiterate the eight major functions of customs data for the benefit of our foreign trade enterprises:

You can find all of these functions in customs data (>>> Click to access sample data online). If you can find them, you're a qualified data user. In addition to this, Shanghai Tendata's Foreign Trade Big Data Business Radar helps foreign trade enterprises manage potential customers online in real-time, understand customer needs, and assists foreign trade personnel in accurately searching for foreign trade customer emails, sending mass emails, producing email reports, and solving email sending dilemmas.

3. Customs Data ≠ Foreign Trade Data; Having Customs Data Alone Is Not Enough

Customs data inquiries include trade transaction data publicly available from customs around the world. This data consists of customs statistical bill-type information. However, what Tendata Company refers to as foreign trade big data goes far beyond mere customs data.

Tendata iTrader boasts customs data from 91 countries, commercial data from 218 countries, and internet data. It encompasses information on over 1.8 billion global businesses, with 100 billion trade data points scrolling every day. It can rapidly and intelligently filter out contact details for 1.21 million executives and decision-makers, including email addresses, phone numbers, social media profiles, and more. It also simultaneously displays company yellow pages, product images, and websites, while offering 17 types of visual reports to help foreign trade enterprises accurately analyze and position themselves in the market, allowing you to quickly find precisely what you need in terms of buyers and suppliers.(>>> Click to use the data for free online.)