The South American nation of Colombia is often in international news for all the wrong reasons. We find extensive coverage of the nation’s gang wars, narcotics trafficking, corruption and poverty. Much of Colombia’s import export operations have been threatened by security issues. The most notorious culprit is FARC (Revolutionary Armed Forces of Colombia). Since 1964, the armed rebel group has sporadically warred with the Colombian army. In 2021, the group signed a peace accord with the government and launched a political party.
While Colombia has had its share of problems, not enough has been written or heard about all the good that the country has to offer. Colombia boasts of extremely arable farmland around the vast Amazon River. The long pacific coast has some of the most picturesque beaches in the world. Andean peaks enthral hikers and travellers from across the globe.
Economically, Colombia tells a story of resilience and fiscal acumen. From a state marred by violence, the government’s prudent management has transformed Colombia into an economic powerhouse. Currently, Colombia is the fourth-largest economy on the continent. Poverty levels have more than halved in a short span of 25 years. In 2021, Colombia grew a rapid pace, shocking economists and forecasters. It has the fastest growing IT sector in the region. The nation fetches top dollar for exports such as oil, coal and coffee.
India Colombia Relations
The two nations share friendly and diplomatic ties. India and Colombia have signed treaties in trade, defence, science and technology. Trade has increased at an annualized rate of about 16.8% since 1990.
ONGC has significant exploration initiatives in Colombia. Other Indian companies operating in Colombia include TCS, Tech Mahindra, and Cipla.
Colombian imports from India stood at $843 million in 2020. The leading import commodities were-
1. Motorcycles ($79 million)
2. Non-Retail Pure Cotton Yarn (S48.8 million)
3. Packaged Medicaments ($43.5 million)
Cybex Exim Solutions provides you a vast database of Colombia’s imports from India. It is imperative for traders operating in the apparels sector to export to Colombia. Trade synergies and Colombia’s appetite for apparel import make it a leading choice among marketers.
Colombian exports to India stood at $961 million in 2020. The top products were-
1. Crude Petroleum ($421 million)
2. Coal Briquettes ($343 million)
3. Coke: Coal Residue ($87.4 million)
After easing of curbs related to the Covid-19 pandemic, bilateral trade between Colombia and India shot up to $3.56 billion in the first three quarters of 2021-22.
Colombia Global Import Export Analysis
The Colombian Tourism industry is expected to grow at a monumental rate after improvements in security and infrastructural advancement. The nation is also a leading manufacturer of electronics. The economy is heavily linked with the United States due to proximity to its consumer markets. US imports from Colombia include crude petroleum, cut flowers and gold. Cosmetics is also an up-and-coming Colombian industry.
Colombia Import and Export: Key Stats (As of 2020)
Top Global Exports
1. Crude Petroleum ($7.46 billion)
2. Coal Briquettes ($4.13 billion)
3. Coffee ($2.54 billion)
4. Gold ($2.34 billion)
5. Refined Petroleum ($1.55 billion)
Leading Export Destinations
1. United States ($9.55 billion)
2. China ($2.8 billion)
3. Ecuador ($1.51 billion)
4. Panama ($1.43 billion)
5. Brazil ($1.28 billion)
Top Global Imports
1. Broadcasting Equipment ($1.99 billion)
2. Refined Petroleum ($1.95 billion)
3. Cars ($1.47 billion)
4. Packaged Medicaments ($1.31 billion)
5. Corn ($1.11 billion)
Leading Import Partners
1. United States ($11.1 billion)
2. China ($10 billion)
3. Mexico ($2.76 billion)
4. Brazil ($2.41 billion)
5. Germany ($1.55 billion)
Business Intelligence services by Cybex Exim Solutions will answer all your import export worries. Make Data-driven decisions to thrive in the market and dominate the competition. Contact us now at [email protected] or call(+911204517800) or WhatsApp(+9971093718) to access the latest Colombia Import and Export data.