Colombia’s exports in January this year increased by 11.7% compared to the same month of 2019, the National Administrative Department of Statistics (DANE) reported on Monday.
According to the agency in a statement, “in January 2020 the country’s foreign sales were 3,423.7 million dollars and presented an increase of 11.7% compared to January 2019”.
This result is mainly explained by the 27.2% growth in external sales of the group of fuels and products of the extractive industries.
In the reference month, exports of fuels and products from extractive industries participated with 60.9% of the total value of exports; while the manufacturing sectors did so with 16.1%, agricultural, food and beverage with 19.7%, and other sectors with 3.2%.
DANE information explains that in January 2020, 18.3 million barrels of crude oil were exported, which represented a 1.5% drop compared to January 2019.
On the other hand, in January 2020, the United States was the main destination of Colombian exports with a 25.2% share in the total value exported, followed by the shares of Panama (12.5%), China (6, 3%), Turkey (5.9%), Mexico (4.8%), Brazil (4.3%) and Ecuador (4.3%).
Commenting on DANE figures, the Deputy Minister of Foreign Trade, Laura Valdivieso, said on social networks that “non-mining exports of goods and services reached $ 25,297 million in 2019, the highest amount in history.”
He added that “with a 1.1% increase in a year of global demand contraction, Colombia shows its resilience.”
Meanwhile, a study by Bancolombia, the main private financial group in the country, ensures Colombian exports in the following months “the effect of the coronavirus on raw material prices will be key, despite the fact that early signals do not yet show manifestly a relevant effect on the mobilization of goods in global markets. “