The products that Colombia exports the most to the United States and that would be affected by Trump’s tariffs
US President Donald Trump’s decision to impose emergency tariffs of 25 percent, which would double to 50 percent within a week, will affect trade between the two countries.
Nowadays, The United States represents almost a third of total Colombian exports and as of November these reached 13,106 million dollars, which represents 29 percent of the total.
“A tariff of 25 percent (and then 50 percent) on our exports would have very serious consequences for our external balance, the availability of foreign currency and the control of inflation,” said the director of the Fedesarrollo think tank, Luis Fernando Mejía. .
It must be remembered that Colombia and the United States have a Free Trade Agreement (FTA) that has already been in effect for 12 years. Although initially the country maintained a trade surplus thanks to the boost in oil prices since 2014 There is a deficit because what is imported is greater than what is exported.
What is most exported?
The products that Colombia sells the most to the North American giant are oil, flowers, coffee, aluminum and fruits, among others.
“If the US imposes emergency tariffs on Colombian products, the impact will be immediate and devastating. The process is quick, does not require approval from Congress and will seriously affect our economy,” stated the president of AmCham Colombia, María Claudia Lacouture.
Specifically, according to Dane data, the most exported products to this destination between January and November 2024 were crude oil oils, with 4,282 million dollars, 6 percent more than a year ago.
Non-monetary gold followed, with 1,308 million dollars, 13 percent more than in the same period of 2023; and unroasted or decaffeinated coffee, with 1,113 million dollars, which represents an increase of 11 percent.
Fresh flowers also appear with 1,013 million dollars (+15 percent) and doors, windows and frames with 520 million dollars (-11 percent).
List of products that are most exported
- crude petroleum oils
- Non-monetary gold
- Unroasted coffees
- Fresh flowers and buds
- Doors, windows and frames
- Gasoils
Companies that export the most to the United States
It is estimated that each year on average more than 3,000 companies export products to the United States, which represents 35 percent of those that do so to the world, according to information from Dian.
The company that currently exports the most to The United States is Ecopetrol, followed by the Barranquilla-based Tecnoglass, Trafigura Petroleum Colombia, the Cartagena Refinery and the company dedicated to the cultivation and export of flowers Sunshine Bouquet.
They are followed by other companies such as the International Precious Metals Trader of Colombia, Frontera Energy, The Elite Flower, Parex Resources, the National Federation of Coffee Growers, Terpel and Drummond.
By department, the largest exporters to the United States until November were Antioquia (US$ 2,492 million), Bogotá (US$ 1,664 million) and Cundinamarca (US$851.2 million, increase of 9.2%). They are followed by Atlántico, Bolívar, Valle del Cauca, Sucre and Huila.
The United States, the one that invests the most in Colombia
In addition to this, The United States is Colombia’s main investor. According to the latest figures from the Bank of the Republic, the amount made in the third quarter of 2024 reaches 4,163 million dollars, which represents 42 percent of the 9,953 million dollars that the country received in that period.
The total investment of the United States in Colombia reaches more than 15 sectors of the country, including commerce, telecommunications, oil and mines, finance, manufacturing industry, electricity, gas and water, construction and agriculture. , among others.
Likewise, The United States is the main issuer of both remittances and tourists to Colombia. On the one hand, 4,637 million dollars were registered in the third quarter, which represents a growth of 17 percent compared to the flows that arrived in the same period of 2023. On the other, between January and November 2024, 1′ 072,914 visitors from that country, which represents 26 percent of non-resident foreigners who arrive in the country.