So far this year, China has been the first country of origin of the coffee country's imports with 25.1%, followed by the United States (23.8%).

The National Administrative Department of Statistics of Colombia (DANE) established that, according to the import declarations registered with the DIAN in February 2024, imports were US$ 4,820.6 million CIF and presented a decrease of 4.7% with relation to the same month of 2023.

IMPORTS BY SECTOR

In February 2024, imports of Manufactures were US$ 3,630.3 million CIF and presented a decrease of 3.7% compared to February 2023, as a result of lower purchases of Machinery and transport equipment (-9.8 %) that contributed -4.4 percentage points to the group's variation.

For its part, the group of Fuels and products from the extractive industries amounted to US$ 451.7 million CIF and presented a decrease of 19.2%, compared to February 2023. The product that contributed the most to the fall was Petroleum, petroleum products and related products (-31.7%) which contributed 25.3 negative percentage points to the total variation of the group.

In contrast, the external purchases of the Agricultural, food and beverage group were US$ 732.1 million CIF and presented a growth of 0.5% compared to February 2023. The result was explained by the greater imports of Oils, fats and waxes of animal and vegetable origin (29.2%) which contributed 1.8 percentage points to the variation of the group.

IMPORTS BY COUNTRY OF ORIGIN

In February 2024, Colombia's imports originating from China accounted for 24.3% of total imports; External purchases followed from the United States, Mexico, Brazil, Germany, France and Japan.

In February 2024 compared to the same period in 2023, the most important contribution occurred in purchases originating in Brazil (-42.8%) and Argentina (-55.4), contributing a total of 5.4 negative percentage points. to the total variation of the month (-4.7%). In contrast, imports from Mexico (15.7%) contributed 0.8 percentage points to the total variation for the month.

The decrease in imports originating in Brazil in February 2024 compared to February 2023 was explained by lower purchases of Corn (-99.3%) and Motor Vehicles for the transportation of people (-76.8%).

BALANCE OF TRADE

In February 2024, a deficit of US$ 762.5 million FOB was recorded in the Colombian trade balance, while in February 2023 there was a deficit of US$ 518.9 million FOB.