Colombia's Imports & Exports

Colombia conducts billions of dollars worth of trade annually.

Colombia is a relatively large country located in the northwestern corner of South America bordered by Panama, Venezuela, Brazil, Ecuador and Peru. Although it may be best known for exporting two stimulants -- legal coffee and illegal drugs -- Colombia actually has a broad economy and exports and imports a number of items.

Energy

One of Colombia's strongest sectors is its energy sector. It produces more oil, gas and electricity than it needs and exports all three. In the case of electricity, the nation produced 50.58 billion kilowatt hours, of which 876.7 million were exported in 2007. In 2009, Colombia produced 686,600 barrels of oil per day and only consumed 288,000 of them, leaving the rest free for export. In 2008, the nation also produced 9 billion cubic meters of natural gas, 10 percent of which was exported. However, Colombia also imports refined fuels, indicating a potential lack of refining capacity.

Imports

Although Colombia is a major producer of agricultural and naturally occurring goods, their industrial sector is comparatively weaker. As such, Colombia imports a number of products that are produced elsewhere. Although the nation has oil and chemical industries, it nevertheless imports both fuels and chemicals. Colombia also imports heavy equipment and consumer goods.

Exports

Most of Colombia's exports are either farmed or extracted. Coffee may be its most famous export, but it is just one of the country's agricultural exports, joined by bananas and cut flowers. In addition to oil and coal, Colombia is also one of the world's largest emerald producers and exporters. Colombia also exports apparel items that are sewn in its garment factories.

Colombia's Trading Partners

The United States is Colombia's largest trading partner, absorbing 32.5 percent of its exports and providing 30.6 percent of its imports. Colombia also exports to Venezuela and the Netherlands, which represent 17.2 and 4.2 percent of its exports, respectively. Colombia imports from a number of countries other than the United States, including China, Mexico, Brazil, France and Germany, each of which make up between 4 and 10 percent of its total import volume. In 2009, Colombia exported slightly more than it imported, based on Central Intelligence Agency estimates of $34 billion in exports and $31.5 billion in imports.

References

• Central Intelligence Agency: The World Factbook - Colombia