The United States was the main destination for overseas shipments, with a share of 32.9% in FOB value.
In August 2024, Colombia's foreign sales were US$ 3,845.0 million FOB and showed a decrease of 2.5% compared to August 2023, according to export information processed by the National Administrative Department of Statistics (DANE) and the National Tax and Customs Directorate (DIAN).
Exports by sector
The result was mainly due to a 14.4% drop in foreign sales of the Fuels and Extractive Industries Products group. This sector accounted for 44.9% of the total FOB value of exports.
Fuel exports amounted to US$ 1,725.6 million FOB and fell by 14.4% compared to August 2023. This behavior was mainly explained by the drop in sales of Petroleum, petroleum products and related products (-10.1%) and Coal, coke and briquettes (-27.1%), which together contributed 13.7 negative percentage points to the group's variation.
In that month, 14.8 million barrels of crude oil were exported, representing a growth of 2.5% compared to August 2023.
Agricultural, food and beverage products accounted for 22.1%. Foreign sales were US$851.3 million FOB and showed a growth of 11.4% compared to August 2023. This performance was mainly explained by the increase in exports of:
- Unroasted coffee, decaffeinated or not (42.7%)
- Cut flowers and foliage (15.8%)
These together contributed 14.9 percentage points to the group's variation.
In August 2024, the share of exports from the Manufacturing group was 24.8%. Sales were US$952.1 million FOB and showed a growth of 7.1% compared to August 2023.
This behavior was mainly explained by the increase in external sales of Chemical products and related products (8%) and Manufactured articles, classified mainly by material (6.3%) which together contributed 4.8 percentage points to the variation of the grouping.
Finally, Other sectors accounted for 8.2%. In August 2024, compared to August 2023, the growth in the group's exports (14.6%) was mainly explained by the increase in exports of non-monetary gold, which contributed 14.5 percentage points to the group's variation.
Export destinations
In August 2024, the United States was the main destination for Colombian exports with a share of 32.9% of the total FOB value exported; followed in order by the shares of Panama, China, India, Brazil, Ecuador and the Netherlands.
In August 2024, compared to August 2023, the decrease in sales to Puerto Rico and Spain together contributed 3.2 percentage points to the total variation in exports (-2.5%). In contrast, external sales to Panama contributed 2.3 percentage points to the total variation.
In August 2024, the drop in exports to Puerto Rico was mainly explained by lower external sales of Gas oils (-100%) and Kerosene and other medium oils (-98.4%) compared to August 2023.
In August 2024 compared to August 2023, the increase in exports to Panama was mainly explained by higher external sales of crude oil (50.6%).
