Overview of Colombia’s Export Performance in July 2023
Colombia’s external sales amounted to $4,429 million in July, marking a 4.1% decrease compared to the same period last year, according to data released by the National Administrative Department of Statistics (DANE) and the National Directorate of Taxes and Customs (DIAN).
Key Factors Contributing to the Decline
The primary reason for this decrease is a 25.6% reduction in exports of the fuels and products from extractive industries group. This product division accounted for 39.1% of the total merchandise value.
Export Composition in July 2023
Apart from fuels, agro-livestock products, food, and beverages contributed 28.2% to the total export value, while manufactures accounted for 23.8%. The remaining sectors contributed 8.9%.
- Agro-livestock products, food, and beverages: 28.2%
- Manufactures: 23.8%
- Other sectors: 8.9%
Crude Oil Exports in July 2023
In July alone, Colombia exported 13.9 million barrels of crude oil, which represented a 0.8% decrease compared to July of the previous year.
Key Questions and Answers
- Q: Who is responsible for releasing the export data? A: The National Administrative Department of Statistics (DANE) and the National Directorate of Taxes and Customs (DIAN) are responsible for releasing Colombia’s export data.
- Q: What percentage of total merchandise value did the fuels and products from extractive industries group contribute? A: This product division accounted for 39.1% of the total merchandise value.
- Q: What were the contributions of agro-livestock products, food, and beverages to total exports in July 2023? A: Agro-livestock products, food, and beverages contributed 28.2% to the total export value in July 2023.
- Q: How many barrels of crude oil did Colombia export in July 2023, and what was the percentage change compared to July 2022? A: Colombia exported 13.9 million barrels of crude oil in July 2023, marking a 0.8% decrease compared to July 2022.
