Colombia

February 19, 2019 Keir Magoulas

About
Colombia is the fourth-largest country in South America in term of land area, and it is the only South American country with both Caribbean and Pacific coastlines (3).

Colombia’s natural resources include petroleum, natural gas, coal, iron ore, nickel, gold, copper, emeralds, and hydropower (1). Its economy is structured as followed (in % of GDP): agriculture: 7.4%, industry: 31.3% and services: 61.4% (2017) (14).

Colombia’s agriculture products include coffee, cut flowers, bananas, rice, tobacco, corn, plantains, potatoes, cassava, cotton, sugarcane, cocoa, dry beans, oilseed, vegetables, forest products and shrimp (1;3). Its industries include textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds (1).

Colombia’s top export commodities include mineral fuels including oil, coffee, tea, spices, gems, precious metals, plastics, plastic articles, live tree, plants, cut flowers, fruits, nuts, iron, steel, vehicles, animal/vegetable fats, oils, waxes, sugar, sugar confectionary (15). Colombia’s top import commodities are machinery including computers, electrical machinery, equipment, vehicles, mineral fuels including oil, plastics, plastic articles, pharmaceuticals, organic chemicals, iron, steel, cereals, optical, technical and medical apparatus (16).

Colombia’s main ports are Barranquilla, Buenaventura, Cartagena, Puerto Bolivar, Santa Marta, Turbo (4).

Trade Statistics
Colombia was the United States' 22nd largest goods export market in 2017. Colombia was the United States' 26th largest supplier of goods imports in 2018.

The City of Tampa has formalized a Sister City agreement with the city of Barranquilla (8).

On May 15, 2012, the United States-Colombia Trade Promotion Agreement (TPA) went into effect. The U.S.-Colombia Trade Promotion Agreement aims to improve the investment environment, eliminate tariffs and other barriers to U.S. exports. (9;10;11;12)

Trade Numbers

U.S. goods imports from Colombia totaled $13.8 billion in 2018, up 1.7% ($232 million) from 2017 (17)
U.S. goods exports to Colombia in 2017 were $13.3 billion, up 2.0% ($265 million) from 2016 (17)
U.S. goods and services trade with Colombia totaled an estimated $36.1 billion in 2016 (17)
The U.S. goods and services trade surplus with Colombia was $2.5 billion in 2016 (17)

References

1. http://www.infoplease.com/country/colombia.html

2. http://www.justiceforcolombia.org/about-colombia/

3. http://www.encyclopedia.com/topic/Colombia.aspx

4. https://www.cia.gov/library/publications/the-world-factbook/geos/co.html

5. http://www.ustr.gov/countries-regions/americas/colombia

6. http://export.gov/pennsylvania/tradewinds/whyamericas/index.asp

7. http://www.enterpriseflorida.com/wp-content/uploads/profile-fl-top-trade-partners-colombia.pdf

8. http://www.tampagov.net/appl_tampa_announcements/ViewRelease.asp?ReleaseID=2263

9. http://www.ustr.gov/uscolombiatpa/facts

10. http://export.gov/FTA/colombia/index.asp

11. http://www.trade.gov/fta/colombia/