As of August, Colombian exports grew 22.5% driven by oil

RIO DE JANEIRO, BRAZIL – According to the National Administrative Department of Statistics (Dane) released that, the January-August 2021 period, Colombian exports were US$24.9 billion and registered an increase of 22.5 %, compared to the same period of 2020.

The upturn took into account the fact that exports of the group of fuels and products of extractive industries were US$11.3 billion and grew 21.3% compared to the same period of 2020.

Read also: Check out our coverage on Colombia

“This behavior was mainly due to the growth in external sales of petroleum, petroleum products, and related products (35.7%), which contributed 22.3 percentage points,” explained Dane.

On the other hand, exports of the group of agricultural products, food, and beverages recorded a total of US$6 billion, with which there was a growth of 18.8%, compared to August 2020.

“As a result mainly of higher sales of cut flowers and foliage (21.5%) which added 4.2 percentage points to the variation of the group,” states the Dane.

Finally, external sales of the manufacturing group reached US$5.5 billion. They recorded a rebound of 29.5%, compared to January-August 2020, behavior given by the growth of chemicals and related products (31.1%), which contributed 13.2 percentage points to the variation of the group.

“In the January-August 2021 period compared to the January-August 2020 period, the increase in exports of the other sectors group (22%) was mainly explained by the increase in sales of non-monetary gold, which contributed 21.9 percentage points to the group’s variation” the report added.

As for the most significant trading partners, the United States was the leading destination of Colombian exports, with a share of 28.2% in the total value exported, followed in order of participation: China, Brazil, India, Panama, Ecuador, and Mexico”.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error