The Manufacturing group was US$831.7 million FOB and showed a growth of 1.4% compared to November 2023.
In November 2024, Colombia's foreign sales were US$ 4,121.1 million FOB and showed a decrease of 1.8% compared to the same month in 2023, according to export information processed by DANE and DIAN.
This result was mainly due to the 11.2% drop in foreign sales of the Fuels and Extractive Industry Products group.
The sector had a 46.5% share. Agriculture, food and beverages participated with 23.5%, manufacturing with 20.2%, and other sectors with 9.8%.
Exports of fuels and extractive industry products amounted to US$ 1,917.0 million FOB and showed a drop of 11.2% compared to November 2023.
This performance was mainly explained by the drop in sales of petroleum, petroleum products and related products (-9.6%) and coal, coke and briquettes (-9.3%), which together contributed 8.9 negative percentage points to the group's variation.
The Manufacturing group was US$831.7 million FOB and showed a growth of 1.4% compared to November 2023.
This behavior was mainly explained by the increase in foreign sales of machinery and transportation equipment (3.5%) and manufactured items, classified mainly by material (1.4%).
For its part, agricultural, food and beverage products were US$ 968.3 million FOB and showed a growth of 8.7%, compared to November 2023.
This behavior was explained by the increase in exports of unroasted coffee, decaffeinated or not (30%) and frozen beef (140.1%).
The growth in exports of the other sectors group (24.4%) was mainly explained by the increase in non-monetary gold exports, which contributed 24.1 percentage points to the group's variation.
THE MAIN DESTINATIONS
The United States was the main destination for Colombian exports, accounting for 27.7% of the total FOB value exported; followed by India, Mexico, Panama, the Netherlands, Brazil and China.
The decrease in sales to China and Panama together contributed 6.2 negative percentage points to the total variation in exports (-1.8%).
In contrast, foreign sales to Mexico contributed 1.8 percentage points to the total variation.
2024 OUTLOOK
So far this year (January - November 2024), Colombian exports have reached US$ 45,075.6 million FOB, a decrease of 0.5% compared to the same period in 2023.
The fall was due to Fuels and extractive industry products, which amounted to US$ 21,435.3 million FOB and decreased 9.8% compared to the same period in 2023.
The agricultural, food and beverage line was US$ 10,312.9 million FOB and showed a growth of 12.5% compared to the same period in 2023, due to the good performance of coffee (18.3%) and fresh or dried bananas (including plantains) (38.9%).
Foreign sales of the Manufacturing group were US$ 9,582.5 million FOB and registered a growth of 3.2%, which was mainly due to the increase in exports of Chemical products and related products (6.9%) and Machinery and transport equipment (11.8%).
The increase in exports of the Other Sectors group (20.3%) was mainly explained by the growth in sales of non-monetary gold, which contributed 20.3 percentage points to the group's variation.
