Colombia Export Data: Coal Exports fall up to 60% in 2021 taking the exporters 12 years back in the time

Published On: 12-Feb-2021

Colombia is one of the highest coal exporters all over the world. It takes hold of the largest open-pit coal mine in the world named El Cerrejon. In 1982, Colombia export data reported a real-time import-export deal between Exxon and Colombian government authorities under the joint venture system. From 1980 to 2013, Colombia Export data disclosed Colombian coal exports improved from 1, 575 thousand short tonnes to 82, 407. However, recently, Colombia coal export data made it into the headlines due to the unpredictable fall in coal supply to regular export destinations like the USA, Brazil, Chile, and Europe. 

To begin with, in 2014, Colombia was announced as the 4th ranking largest coal exporter after Indonesia, the Russian Federation, and Australia. However, in 2020, Colombia falls down to 5th rank. One of the major reasons for Colombia coal exporters falling back is the economic crisis in 2017. In the given period, oil prices in Colombia were at stake. Markets have slowed down, which reflected on Colombia’s export data. 

Another reported reason for Colombia’s concise contribution in providing coal to different countries in 2020 was - El Cerrejon’s mineworkers were at a strike that sprinted longer than three months. In November 2020, the strike ended only after the authorities shook hands with the labour union and promised a written production until 2023. 

Other reported economic reasons that caused the Colombia Export Data to encounter such great fall in coal exports are:

  • Lower demand for coal in other countries
  • Lower demand for coal in other countries
  • The Labour Union Strike put an end to the production of coal for up to 3 months.
  • All reasons lead to a high-end decrease in price rate, causing Cerrejon to face unpredictable loss.

Will Colombia be able to recover?

Cybex.in verifies and confirms that Colombia is one of the most diversifying exporting countries globally. It is the largest exporter of gold, platinum, nickel, and cement. Thus, Colombia contributes to each industry as the exporting giant. Although, it will take time for Colombian exporters to recover from the coal exporting issues. As the largest exporters of precious jewellery substance like gold and platinum - Colombia is economically stable to carry the loss for a while. 

BHP Billiton plc owns El Cerrejon, the largest coal mining open-pit worldwide.