Colombian exports down 13.6% in first six months 2023; fuels and extractive industries lead decline

In June 2023, Colombian exports amounted to US$3.986 billion, marking a 27.5% decline compared to June 2022, according to data from Dane and Dian.

This decline was primarily due to a 38.9% drop in external sales from fuels and products of extractive industries.

These exports accounted for 50.3% of the total value, followed by manufactures at 22.7%, agricultural products, food, and beverages at 20.8%, and other sectors at 6.3%.

In particular, the export of fuels and products of extractive industries was US$2.004 billion, showing a 38.9% fall, mainly attributed to the reduction in sales of coal and related products.

Manufacture exports decreased by 6.4%, and agricultural products, food, and beverages fell by 21.9%.

There was a growth in exports in the group of other sectors (31%), mainly due to an increase in non-monetary gold sales.

For the period January to June 2023, Colombian exports were US$24.553 billion, registering a decrease of 13.6% compared to the same period in 2022.

Within this group, the fuels and products of extractive industries fell by 19.4%, mainly because of a decline in external sales of oil and related products.

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