:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/47AUKAUROJCEBFJWJ6VNYCMIWM.jpg "Colombia’s exports hit ,695 million in January, continuing downward trend")
The ace foreign sales from Colombia in January 2023, they showed unfavorable behavior by reaching a total of $3.695 millionwhich registered a decrease in value of 2.8% compared to the same period in 2022. The volume of exports showed a downward trend with a decrease of 8.5%, standing at 7.3 million metric tons.
factors such as international awards and the high interest rates affect the global economy and Colombia is no exception.
According to the executive chairman of the National Foreign Trade Association (Analdex), Javier Diaz MolinaSince the end of last year, it has shown a downward trend in the country’s overseas sales.
“I think the export results in January this year accentuate the trend that began to be felt in December 2022, a decline in Colombian exports. We are talking in particular about a drop in fuel, since we exported much less oil in volume than last year, ”he said.
According to him, there has also been a decline in agricultural exports and this reflects the behavior that some of the prices of Farm products and, in particular, in the case of coffee, the price of which has fallen compared to that reached in 2022.
Among the product groups that contributed the most to the country’s external sales in 2022 are fuels and products from extractive industries (54.6%), made (18.7%), agricultural (13.7%), Food and drinks (6.2%) and other sectors -non-monetary gold- (6.8%).
The main destinations of the products in the country’s export basket are UNITED STATES (22.9%), the European Union (19.3%) y Chinawith Colombia’s foreign sales growing by 142.7%.
In this regard, Javier Díaz Molina highlighted the reputation of the latter two countries due to the recovery behavior of demand for Colombian products what do you need.
“Keep in mind that the Chinese market is recovering again after several months of uncertainty and falling demand. Let us remember that a positive growth of the Chinese economy is estimated and this means greater demand from this country and Colombia is no stranger to this trend. If China demands more basic goods, we will sell more there. An equally behavioral recovery in demand is beginning to be felt in Europe. I think inflation is stabilizing and that allows us to be optimistic about the behavior of demand in Europe,” he said.
Meanwhile, exports to Venezuela has grown considerably from $26.6 million in January 2022 to $41.3 million in the same period of 2023.
However, the effects on foreign trade with Ecuador by the landslide in Rosas (Cauca), which led to the closure of the via Pan American, are reflected in the results of Colombian exports for January. External sales to the neighboring country fell by about 21% compared to the level recorded in the same month of 2022, falling from 121.6 million dollars to 96.3 million dollars. It should be noted that the land cargo link with Ecuador is very important since it represents approximately 70% of total exports to the neighboring country.
For their part, the non-mining energy exports they recorded a decrease of -7.9% Compared to 2022, this is the consequence of the fall in coffee, tea and spices, plastics and their manufacture, as well as fruits, in particular bananas.
Among the main products sold abroad, the growth of exports of doors, windows and frames. The dynamic of the United States allows sales abroad to continue with an acceptable dynamic.
“There are certain manufacturing sectors which maintain their good performance, the case of windows which go particularly towards the United States market, I think it is a market which continues with its growth dynamic”, underlined the union leader .
He also highlighted the growth of exports in palm oil and cane sugar.