2022
Exports
$435MWorld Rnk 52 / 223
Flag Rnk 17 / 96
2022
PRODUCT COMPLEXITY IN Pharmaceutical products
1.38Rnk 75 / 1025
2022
Imports
$3.14BWorld Rnk 37 / 226
Flag Rnk 6 / 96
2022
ECONOMIC COMPLEXITY of Colombia
0.11Rnk 58 / 133

About

Exports In 2022, Colombia exported $435M in Pharmaceutical products, making it the 52nd largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 17th most exported product in Colombia. The main destination of Pharmaceutical products exports from Colombia are: Ecuador ($116M), Peru ($43.5M), Panama ($38.5M), Costa Rica ($28.5M), and Chile ($28.4M).

The fastest growing export markets for Pharmaceutical products of Colombia between 2021 and 2022 were Ecuador ($9.6M), Chile ($6.45M), and El Salvador ($5.06M).

Imports In 2022, Colombia imported $3.14B in Pharmaceutical products, becoming the 37th largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 6th most imported product in Colombia. Colombia imports Pharmaceutical products primarily from: United States ($686M), Germany ($438M), Switzerland ($322M), Belgium ($188M), and Ireland ($150M).

The fastest growing import markets in Pharmaceutical products for Colombia between 2021 and 2022 were Germany ($65.1M), Belgium ($36.8M), and Ireland ($25.6M).

Latest Trends

Jul 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 Pharmaceutical products. 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)$435M
IMPORTS (2022)$3.14B
NET TRADE (2022)-$2.71B

In 2022, Colombia exported $435M in Pharmaceutical products. The main destinations of Colombia exports on Pharmaceutical products were Ecuador ($116M), Peru ($43.5M), Panama ($38.5M), Costa Rica ($28.5M), and Chile ($28.4M).

In 2022, Colombia imported $3.14B in Pharmaceutical products, mainly from United States ($686M), Germany ($438M), Switzerland ($322M), Belgium ($188M), and Ireland ($150M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Colombia WERE (2021 - 2022):
Ecuador$9.6M (9.05%)
Chile$6.45M (29.4%)
El Salvador$5.06M (24.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Colombia WERE (2021 - 2022):
United States-$16.4M (-79%)
Honduras-$5.14M (-40.5%)
Peru-$4.57M (-9.52%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Colombia's main exporting competitors in Pharmaceutical products were:
In 2022, Colombia's main importing competitors in Pharmaceutical products were:

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALMexico+ $14M
TOP IMPORT POTENTIALUnited States+ $189M

Pharmaceutical products’s highest export potential is Mexico. With an export gap of $14M.   Pharmaceutical products’s highest import potential is United States with an import gap of $189M.

See methodology.

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