The Colombian American Chamber presented the main data on the commercial relationship between both countries in the context of the High Level Dialogue that takes place today and tomorrow, May 29.
On Tuesday, May 28 and Wednesday, May 29, the High Level Dialogue between Colombia and the United States will take place in Bogotá. At the event there will be meetings between government officials and businessmen from both countries.
The meeting takes place in the middle of the change in the Colombian embassy in the United States where Daniel García-Peña was appointed to replace Luis Gilberto Murillo, who took over as the new Minister of Foreign Affairs of Colombia.
The Colombian American Chamber (AmCham Colombia) provided the 10 main data on the status of the commercial relationship between the two countries.
Exports: in the first quarter of 2024, the United States remains Colombia's main trading partner. Exports were recorded at US$3,114 million, representing 28% of total sales, according to the National Administrative Department of Statistics.
Export products: 62% of the products exported to the US belong to the non-mining-energy sector versus 38% of the mining-energy sector, between January and March.
Position in the markets: 276 Colombian products have more than 50% of the market in several states of the United States, in the first quarter, according to figures from the US Census Bureau, analyzed by AmCham Colombia.
Travel: American travelers are the main tourists visiting Colombia. Between January and March of the year, 296,421 visitors arrived, according to the Ministry of Commerce, Industry and Tourism.
Companies: between January and March, 2,008 companies have exported to the US. On average, each year more than 3,000 companies export products to the United States, according to information from the National Tax and Customs Directorate.
Manufacturing: within the FTA framework, 748 Colombian products in the manufacturing sector have shown an increase of 492%.
Agriculture: in the non-traditional agricultural sector, 153 products have increased exports by 210%, between 2012 and 2023.
FTA: due to the benefits of the Free Trade Agreement (FTA), there are currently 11,497 items that can be exported with zero tariffs to the United States.
Investments: The United States consolidates itself as the main historical investor in Colombia. The 2023 investment was recorded at US$5,768 million, the highest recorded in the country since 1994, the oldest data provided by the Bank of the Republic. The investment reaches more than 15 sectors of the country, including commerce, telecommunications, oil and mining, finance, manufacturing industry, electricity, gas and water, construction, and agriculture, among others.
Agroindustry: according to a study carried out by AmCham Colombia, the agroindustrial sector has a growth potential of up to 250% in the next four years.
