This result was mainly due to the 18.6% drop in foreign sales of the Fuels and Extractive Industries Products group.
In September 2024, Colombia's foreign sales were US$ 4,130.8 million FOB and showed a decrease of 0.9% compared to September 2023, according to export information processed by DANE and DIAN.
This result was mainly due to the 18.6% drop in foreign sales of the Fuels and Extractive Industries Products group, which accounted for 44.7% of the total FOB value of exports.
In September 2024, 15.0 million barrels of crude oil were exported, representing a growth of 1.6% compared to September 2023.
Agriculture, food and beverages accounted for 23.1%, manufacturing 22%, and other sectors 10.1%.
In September 2024, exports of Fuels and extractive industry products were US$ 1,847.3 million FOB and showed a drop of 18.6% compared to September 2023. This behavior was mainly explained by the drop in sales of oil, petroleum products and related products (-23.4%) and coal, coke and briquettes (-17.5%).
Together, they contributed 20.7 negative percentage points to the group's change.
In September 2024, exports of the Manufacturing group were US$ 910.7 million FOB and showed a growth of 9.1%, compared to September 2023. This behavior was mainly explained by the increase in external sales of Manufactured articles, classified mainly according to material (14.7%) and Machinery and transport equipment (17%).
Foreign sales of agricultural products, food and beverages were US$ 954.4 million FOB and showed a growth of 24.5%, compared to September 2023. This behavior was mainly explained by the increase in exports of unroasted coffee, decaffeinated or not (21.4%) and fresh or dried bananas (including plantains) (57.7%).
For its part, the growth in exports of the Other sectors group (40.6%) was mainly explained by the increase in non-monetary gold, which contributed 40.2 percentage points to the group's variation.
Export destinations
In September 2024, the United States was the main destination for Colombian exports with a 32.3% share of the total FOB value exported; followed in order by the shares of Panama, India, Ecuador, the Netherlands, Brazil and Mexico.
The decrease in sales to Panama and Malaysia together contributed 8.3 negative percentage points to the total variation in exports (-0.9%).
In contrast, foreign sales to the United States contributed 3.2 percentage points to the total variation, due to higher foreign sales of non-monetary gold (36.3%).
