2023
Exports
$13BWorld Rnk 24 / 150
Flag Rnk 1 / 1150
2023
PRODUCT COMPLEXITY IN Crude Petroleum
-2.37Rnk 1015 / 1025
2023
Imports
$753MWorld Rnk 61 / 159
Flag Rnk 10 / 1192
2023
ECONOMIC COMPLEXITY of Colombia
0.23Rnk 51 / 132

About

Exports In 2023, Colombia exported $13B in Crude Petroleum, making it the 24th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most exported product in Colombia. The main destination of Crude Petroleum exports from Colombia are: United States ($4.65B), Panama ($4.19B), India ($1.65B), China ($1.07B), and Spain ($487M).

The fastest growing export markets for Crude Petroleum of Colombia between 2022 and 2023 were Malaysia ($230M), Jamaica ($130M), and Peru ($109M).

Imports In 2023, Colombia imported $753M in Crude Petroleum, becoming the 61st largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 10th most imported product in Colombia. Colombia imports Crude Petroleum primarily from: United States ($446M), Nigeria ($144M), Guyana ($125M), Argentina ($38.1M), and Spain ($21.1k).

The fastest growing import markets in Crude Petroleum for Colombia between 2022 and 2023 were United States ($217M), Nigeria ($144M), and Guyana ($125M).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$13B
IMPORTS (2023)$753M
NET TRADE (2023)$12.3B

In 2023, Colombia exported $13B in Crude Petroleum. The main destinations of Colombia exports on Crude Petroleum were United States ($4.65B), Panama ($4.19B), India ($1.65B), China ($1.07B), and Spain ($487M).

In 2023, Colombia imported $753M in Crude Petroleum, mainly from United States ($446M), Nigeria ($144M), Guyana ($125M), Argentina ($38.1M), and Spain ($21.1k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Colombia WERE (2022 - 2023):
Malaysia$230M (1%)
Jamaica$130M (156%)
Peru$109M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Colombia WERE (2022 - 2023):
United States-$1.9B (-29%)
Panama-$1.04B (-19.8%)
Cote d'Ivoire-$206M (-53.1%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Colombia's main exporting competitors in Crude Petroleum were:
In 2023, Colombia's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.3B
TOP IMPORT POTENTIALUnited States+ $64.5M

Crude Petroleum’s highest export potential is United States. With an export gap of $1.3B.   Crude Petroleum’s highest import potential is United States with an import gap of $64.5M.

See methodology.

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