Refined Petroleum in Colombia

EXPORTS (2018): $2.96B, World Rnk 35 / 198
Flag Rnk 3 / 1062

TOP DESTINATION (2018): $1.87B, United States

FASTEST GROWING MARKET (2017 - 2018): $905M, United States

IMPORTS (2018): $2.94B, World Rnk 51 / 221
Flag Rnk 1 / 1184

TOP ORIGIN (2018): $2.41B, United States

FASTEST GROWING ORIGIN (2017 - 2018): $75.2M, United States

ECONOMIC COMPLEXITY of Colombia (2018): 0.23, Rnk 56 / 137

PRODUCT COMPLEXITY  IN Refined Petroleum (2018): -0.97, Rnk 812 / 1018

Overview: This page contains the latest trade data of Refined Petroleum in Colombia.

Exports: In 2018, Colombia exported $2.96B in Refined Petroleum, making it the 35th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 3rd most exported product in Colombia. The main destination of Refined Petroleum exports from Colombia are: United States ($1.87B), Singapore ($247M), Bonaire ($119M), Spain ($105M), and Brazil ($101M).

The fastest growing export markets for Refined Petroleum of Colombia between 2017 and 2018 were United States ($905M), Venezuela ($55.6M), and Brazil ($43.9M).

Imports: In 2018, Colombia imported $2.94B in Refined Petroleum, becoming the 51st largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most imported product in Colombia. Colombia imports Refined Petroleum primarily from: United States ($2.41B), Mexico ($249M), United Kingdom ($99M), Curaçao ($29.5M), and Panama ($25.7M).

The fastest growing import markets in Refined Petroleum for Colombia between 2017 and 2018 were United States ($75.2M), Mexico ($67.1M), and United Kingdom ($18.6M).

Tariffs: In 2018, the average tariff for Colombia in Refined Petroleum was 1.3%. The countries with the highest import tariffs for Refined Petroleum were Cuba (4%), Panama (4%), United States (2.33%), Angola (1.5%), and Burundi (1.5%).

Value

EXPORTS (2018): $2.96B

IMPORTS (2018): $2.94B

NET TRADE (2018): $21.2M

In 2018, Colombia exported $2.96B in Refined Petroleum. The main destinations of Colombia exports on Refined Petroleum were United States ($1.87B), Singapore ($247M), Bonaire ($119M), Spain ($105M), and Brazil ($101M).

In 2018, Colombia imported $2.94B in Refined Petroleum, mainly from United States ($2.41B), Mexico ($249M), United Kingdom ($99M), Curaçao ($29.5M), and Panama ($25.7M).

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IN 2018, Colombia HAD A POSITIVE NET TRADE IN Refined Petroleum WITH:

  • Singapore, $247M ($247M - $20.4k)
  • Bonaire, $119M ($119M - $0)
  • Spain, $102M ($105M - $3.01M)

IN 2018, Colombia HAD A NEGATIVE NET TRADE IN Refined Petroleum WITH:

  • United States, -$535M ($1.87B - $2.41B)
  • Mexico, -$162M ($87.2M - $249M)
  • United Kingdom, -$85.9M ($13.1M - $99M)
Flow

THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Colombia WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Colombia WERE (2017 - 2018):

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Market Concentration

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Flow
Type

In 2018, Colombia's main exporting competitors in Refined Petroleum were:

In 2018, Colombia's main importing competitors in Refined Petroleum were:

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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Refined Petroleum in Colombia. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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Tariffs by Country

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In 2018, the average tariff for Colombia in Refined Petroleum was 1.3%.

The countries with the highest tariffs for Refined Petroleum in Colombia were Cuba (4%), Panama (4%), United States (2.33%), Angola (1.5%), and Burundi (1.5%).

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