Somalia (SOM) and Colombia (COL) Trade | The Observatory of Economic Complexity

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Somalia-Colombia Trade: In 2023, Somalia exported $5.56k to Colombia. The main products that Somalia exported to Colombia were Transmissions ($3.1k), Motor vehicles; parts and accessories (8701 to 8705) ($1.71k), and Harvesting Machinery ($475). Over the past 9 years the exports of Somalia to Colombia have increased at an annualized rate of 17.4%, from $1.31k in 2014 to $5.56k in 2023.

In 2023, Somalia did not export any services to Colombia.

Colombia-Somalia Trade: In 2023, Colombia exported $99.9k to Somalia. The main products that Colombia exported to Somalia were N/A. Over the past 9 years the exports of Colombia to Somalia have increased at an annualized rate of 13.7%, from $35.8k in 2014 to $99.9k in 2023.

In 2023, Colombia did not export any services to Somalia.

Comparison In 2023, Somalia ranked 161 in total exports ($1.03B), and does not have data regarding Economic Complexity Index. That same year, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Somalia exported $5.56k to Colombia. The main products exported from Somalia to Colombia were Transmissions ($3.1k), Motor vehicles; parts and accessories (8701 to 8705) ($1.71k), and Harvesting Machinery ($475). During the last 9 years the exports of Somalia to Colombia have increased at an annualized rate of 17.4%, from $1.31k in 2014 to $5.56k in 2023.

In 2017, Colombia exported $99.9k to Somalia. There were not main exports from Colombia to Somalia in 2017. During the last 5 years the exports of Colombia to Somalia have increased at an annualized rate of 13.7%, from $35.8k in 2022 to $99.9k in 2017.

Exports from Somalia () to Colombia () (2023)

Exports from Colombia () to Somalia () (2023)

Latest Data

Trade between Somalia () and Colombia ()

Colombia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Somalia
Top DestinationUnited Arab Emirates$360M

Colombia
Top DestinationUnited States$14.8B

This map shows whether countries import more from Somalia or Colombia. Each country is colored based on the difference in imports they receive from Somalia and Colombia or the difference in the growth in imports.

In 2023, countries that imported more from Somalia than Colombia included Oman ($180M), Saudi Arabia ($283M), and Djibouti ($84.2M).

In 2023, countries that imported more from Colombia than Somalia included United States ($14.8B), Panama ($4.66B), and China ($2.5B).

Difference in imports from Colombia () and Somalia () (2023)

Comparative Advantage Somalia - Colombia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Somalia and Colombia by product, considering products traded by both, Somalia and Colombia.

During 2023, Somalia had a large net trade with Colombia in the exports of Machines ($3.84k) and Transportation ($1.71k).

During 2017, Colombia had a large net trade with Somalia in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Somalia Colombia+$1.74kCrustaceans

Top Product Potential Colombia Somalia+$2.87kRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Somalia and Colombia. This means that a dot/product with the flag of Somalia indicates it has a comparative advantage over Colombia. Similarly, a dot/product with the flag of Colombia indicates it has a comparative advantage over Somalia.

About

Historical Data

Bilateral Trade by Products

Exports from Somalia () to Colombia () (2023)

Exports from Colombia () to Somalia () (2023)

Latest Data

Trade between Somalia () and Colombia ()

Colombia Exports

Market Competitiveness

Difference in imports from Colombia () and Somalia () (2023)

Comparative Advantage Somalia - Colombia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Somalia () and Colombia () (2023)

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