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2022
Exports $2.64BWorld Rnk 44 / 214
Flag Rnk 4 / 1142
2022
Destination $269M United States
2021 - 2022
FASTEST GROWING MARKET $269MBonaire
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2022
Imports $6.26BWorld Rnk 46 / 225
Flag Rnk 1 / 1183
2022
Origin $2.45B United States
2021 - 2022
FASTEST GROWING ORIGIN $2.45BUnited States
2022
ECONOMIC COMPLEXITY of Colombia0.11Rnk 58 / 133

About

Exports In 2022, Colombia exported $2.64B in Refined Petroleum, making it the 44th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most exported product in Colombia. The main destination of Refined Petroleum exports from Colombia are: United States ($1.01B), Bonaire ($394M), Panama ($174M), Bahamas ($162M), and Spain ($154M).

The fastest growing export markets for Refined Petroleum of Colombia between 2021 and 2022 were Bonaire ($269M), Panama ($108M), and Netherlands ($100M).

Imports In 2022, Colombia imported $6.26B in Refined Petroleum, becoming the 46th 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 ($5.31B), United Kingdom ($316M), Spain ($152M), Netherlands ($99.2M), and Brazil ($95M).

The fastest growing import markets in Refined Petroleum for Colombia between 2021 and 2022 were United States ($2.45B), United Kingdom ($284M), and Brazil ($67.9M).

Latest Trends

Sep 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 Refined 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 (2022)$2.64B
IMPORTS (2022)$6.26B
NET TRADE (2022)-$3.62B

In 2022, Colombia exported $2.64B in Refined Petroleum. The main destinations of Colombia exports on Refined Petroleum were United States ($1.01B), Bonaire ($394M), Panama ($174M), Bahamas ($162M), and Spain ($154M).

In 2022, Colombia imported $6.26B in Refined Petroleum, mainly from United States ($5.31B), United Kingdom ($316M), Spain ($152M), Netherlands ($99.2M), and Brazil ($95M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Colombia WERE (2021 - 2022):
Bonaire$269M (216%)
Panama$108M (165%)
Netherlands$100M (258%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Colombia WERE (2021 - 2022):
United States-$296M (-22.6%)
El Salvador-$64.3M (-93.8%)
British Virgin Islands-$28.8M (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Colombia's main exporting competitors in Refined Petroleum were:
United States $138B
India $86.2B
Netherlands $68.1B
In 2022, Colombia's main importing competitors in Refined Petroleum were:
United States $81.7B
Singapore $58.5B
Netherlands $51.1B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $528M
TOP IMPORT POTENTIALBrazil+ $120M

Refined Petroleum’s highest export potential is United States. With an export gap of $528M.   Refined Petroleum’s highest import potential is Brazil with an import gap of $120M.

See methodology.

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