Crude Petroleum in Colombia

EXPORTS (2018): $13.8B, World Rnk 21 / 120
Flag Rnk 1 / 1062

TOP DESTINATION (2018): $4.3B, United States

FASTEST GROWING MARKET (2017 - 2018): $1.81B, China

IMPORTS (2018): $508M, World Rnk 59 / 148
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TOP ORIGIN (2018): $314M, United States

FASTEST GROWING ORIGIN (2017 - 2018): $300M, United States

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

PRODUCT COMPLEXITY  IN Crude Petroleum (2018): -2.84, Rnk 1018 / 1018

Exports: In 2018, Colombia exported $13.8B in Crude Petroleum, making it the 21st 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 ($4.3B), China ($3.41B), Panama ($2.68B), Saint Lucia ($798M), and Bahamas ($354M).

The fastest growing export markets for Crude Petroleum of Colombia between 2017 and 2018 were China ($1.81B), Panama ($544M), and India ($318M).

Imports: In 2018, Colombia imported $508M in Crude Petroleum, becoming the 59th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 15th most imported product in Colombia. Colombia imports Crude Petroleum primarily from: United States ($314M), Russia ($108M), Canada ($55.6M), Brazil ($29.8M), and Singapore ($444k).

The fastest growing import markets in Crude Petroleum for Colombia between 2017 and 2018 were United States ($300M), Canada ($55.6M), and Brazil ($29.8M).

Tariffs: In 2018, the average tariff for Colombia in Crude Petroleum was 3.79%. The countries with the highest import tariffs for Crude Petroleum were Angola (5%), Burundi (5%), Benin (5%), Burkina Faso (5%), and Botswana (5%).

Value

EXPORTS (2018): $13.8B

IMPORTS (2018): $508M

NET TRADE (2018): $13.2B

In 2018, Colombia exported $13.8B in Crude Petroleum. The main destinations of Colombia exports on Crude Petroleum were United States ($4.3B), China ($3.41B), Panama ($2.68B), Saint Lucia ($798M), and Bahamas ($354M).

In 2018, Colombia imported $508M in Crude Petroleum, mainly from United States ($314M), Russia ($108M), Canada ($55.6M), Brazil ($29.8M), and Singapore ($444k).

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

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

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

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Market Concentration

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

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

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Trade Forecasts

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This section shows forecasts for total exports and imports, for Crude 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 Crude Petroleum was 3.79%.

The countries with the highest tariffs for Crude Petroleum in Colombia were Angola (5%), Burundi (5%), Benin (5%), Burkina Faso (5%), and Botswana (5%).

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