Colombia-US Trade Data & Statistics: US Exports to Colombia

In recent years, Colombia-US trade relations have become increasingly significant, with a growing volume of trade between the two countries. One key aspect of this trade relationship is US exports to Colombia, which play a vital role in the economic ties between the two nations. According to the US export data and US-Colombia trade data, the US exports to Colombia reached $19.04 billion in 2024, an increase of 8.49% from the previous year. In this article, we will delve into the trade data and statistics related to US exports to Colombia in 2024 with insights into the Colombia-US trade data & bilateral trade relations.

Key Trends & Statistics for Colombia-US Bilateral Trade

• The total bilateral trade volume between the US & Colombia accounted for $37.47 billion in 2024.

• With 34% of Colombia's overall trade, the US is Colombia's biggest trading partner.

• As per the US import data, US imports from Colombia accounted for $18.43 billion, while US exports to Colombia totaled $19.04 billion in 2024.

The Importance of US Exports to Colombia

US exports to Colombia contribute significantly to the bilateral trade relationship between the two countries. These exports not only drive economic growth in the United States but also support job creation and prosperity in Colombia. By exporting a diverse range of goods and services to Colombia, the US strengthens its trade ties with a key Latin American partner.

Top US Exports to Colombia in 2024: USA Export Data by HS code

In 2024, US Exports to Colombia continued to showcase a significant contribution to the economic landscape. As per the USA Export Data by HS code, a detailed analysis highlighted the diverse range of goods exported, further strengthening the bilateral trade relationship between the two nations. The top 10 US exports to Colombia, as per the US shipment data and USA bill of lading data for 2024 include:

1. Mineral fuels and oils: $5.13 billion (26.94%)

Mineral fuels and oils topped the list of US exports to Colombia in 2024, accounting for a significant 26.94% of the total export value. This category includes petroleum oils, coal, and other mineral fuels that are essential for Colombia's energy needs. The strong demand for these commodities in Colombia has made it a lucrative market for US exporters. HS Code in global trade: 27

2. Cereals: $1.77 billion (9.30%)

Cereals, such as wheat, maize, and rice, were the second most valuable export category from the US to Colombia, with a total value of $1.77 billion. Colombia's growing population and changing dietary habits have increased the demand for cereals, making it a key export opportunity for US farmers. HS Code in global trade: 10.

3. Nuclear Reactors and Machinery: $1.73 billion (9.09%)

Nuclear reactors and machinery ranked third on the list of US exports to Colombia, with a total value of $1.73 billion in 2024. This category includes machinery, equipment, and parts necessary for various industries in Colombia, demonstrating the diverse range of exports from the US to Colombia. HS Code in global trade: 84

4. Plastics and articles thereof: $1.01 billion (5.31%)

Plastics were another significant export category from the US to Colombia, with a total value of $1.01 billion. This category includes plastic products, raw materials, and machinery used in Colombia's manufacturing sector. The demand for plastics in Colombia continues to grow, presenting opportunities for US exporters. HS Code in global trade: 39

5. Prepared animal food: $990.85 million (5.21%)

Prepared animal food was a key export category from the US to Colombia, with a total value of $990.85 million. This category includes pet food, livestock feed, and other animal products that are essential for Colombia's agricultural industry. The high-quality standards of US animal food products have made them popular in the Colombian market. HS Code in global trade: 23

6. Electrical machinery, electronic equipment: $988.21 million (5.19%)

Electrical machinery and electronic equipment were also significant export categories from the US to Colombia, with a total value of $988.21 million. This category includes a wide range of electrical and electronic products, such as appliances, computers, and telecommunications equipment, meeting Colombia's growing technological needs. HS Code in global trade: 85

7. Organic chemicals: $967.27 million (5.08%)

Organic chemicals ranked among the top US exports to Colombia, with a total value of $967.27 million. This category includes various chemicals used in the pharmaceutical, agricultural, and manufacturing industries in Colombia. The demand for high-quality organic chemicals from the US remains strong in the Colombian market. HS Code in global trade: 29

8. Optical, medical, or surgical apparatus: $623.96 million (3.28%)

Optical, medical, or surgical apparatus were significant export categories from the US to Colombia, with a total value of $623.96 million. This category includes medical devices, equipment, and instruments that are crucial for Colombia's healthcare sector. The cutting-edge technology and innovation in US medical devices make them highly sought after in Colombia. HS Code in global trade: 90

9. Pharmaceutical products: $594.55 million (3.12%)

Pharmaceutical products were also key exports from the US to Colombia, with a total value of $594.55 million. This category includes a wide range of medications, vaccines, and healthcare products that are essential for Colombia's healthcare system. The high standards and reliability of US pharmaceutical products have made them popular in Colombia. HS Code in global trade: 30

10. Vehicles: $479.98 million (2.52%)

Vehicles rounded off the list of top US exports to Colombia, with a total value of $479.98 million. This category includes automobiles, trucks, and other vehicles that cater to Colombia's transportation needs. The high quality and durability of US vehicles have made them the preferred choice among Colombian consumers. HS Code in global trade: 87

What does Colombia export to USA?

Colombia exports a diverse range of products to the USA. Colombia’s exports to the US reached $13.92 billion in 2023-24. The main exports from Colombia to the USA include coffee, flowers, bananas, coal, oil, and textiles. Boldly standing out in international trade, these high-quality Colombian goods make a significant impact on the American market. Colombia's exports play a crucial role in strengthening the economic ties between the two countries and contributing to the global economy as a whole. The top 10 goods that Colombia exports to the US, as per the US-Colombia trade data and Colombia export data for 2024 include:

1. Mineral fuels and oils (HS code 27): $6.03 billion

2. Live trees and plants (HS code 06): $1.67 billion

3. Precious stones and metals (HS code 71): $1.44 billion

4. Coffee, tea, and spices (HS code 09): $1.19 billion

5. Aluminum and articles thereof (HS code 76): $706.61 million

6. Electrical machinery and equipment (HS code 85): $314.17 million

7. Edible fruit and nuts (HS code 08): $302.09 million

8. Plastics and articles thereof (HS code 39): $220.54 million

9. Miscellaneous edible preparations (HS code 21): $212.32 million

10. Sugar and sugar confectionery (HS code 17): $185.42 million

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US-Colombia Trade Data in the Last 10 Years: Yearly Colombia-US Bilateral Trade

Colombia-US Trade Agreements and Tariffs

The United States and Colombia have a bilateral trade agreement in place, known as the United States-Colombia Trade Promotion Agreement (CTPA). This agreement has facilitated the smooth flow of goods and services between the two countries, eliminating tariffs on many products and promoting trade liberalization.

Furthermore, US exporters benefit from preferential market access to Colombia under the CTPA, which has boosted exports and enhanced market opportunities for American businesses. The agreement also includes provisions for intellectual property rights protection and dispute resolution mechanisms, ensuring a fair and transparent trading environment.

US-Colombia tensions may cause corn & coffee prices to rise significantly

Tariffs imposed on each other's imports as a result of the diplomatic conflict between the US and Colombia have the potential to increase the cost of both luxury goods like emerald rings and daily staples like coffee. President Trump's 25% tariffs may worsen since Colombia has refused to accept US military deportation planes. Both countries' economies are impacted by the trade war, especially in the areas of manufacturing and agriculture, and it may have repercussions for international markets.

The United States and Colombia have intensified their trade conflict, which could result in increased prices for American consumers. President Gustavo Petro of Colombia blocked the landing of US military aircraft transporting deported migrants, which sparked the crisis. US President Donald Trump responded by declaring a 25% tax on all imports from Colombia and threatening to increase the tariff to 50% in a week if Petro didn't comply. President Petro vowed to levy a 25% tariff on US imports in response.

The Impact of Tariffs on Colombia's Exports to the US

• For several industries, especially Colombian exports to the US, the tariffs may have serious repercussions. 

• Any prolonged increase in tariffs could result in higher pricing for consumers as Colombia is a significant supplier of coffee, flowers, and crude oil to the US. 

• Colombia is the source of more than 20% of the US's coffee imports, which are valued at around $2 billion, along with other products like avocados, bananas, and crude oil.

• For example, the price of a pound of Colombian coffee may climb from $6.33 to $7.91 if duties are raised. 

• As coffee costs rise, consumers may feel the squeeze, especially in the US, where coffee consumption is very popular. 

• Furthermore, almost one-third of the flowers imported into the US come from Colombia, which may result in higher floral product prices.

Conclusion

In conclusion, US exports to Colombia are crucial in the robust trade relationship between the two countries. With a diverse range of products and services being exported from the United States to Colombia, there is immense scope for further growth and collaboration in various sectors. By staying informed about the latest trade data and statistics, US exporters can make informed decisions and maximize their opportunities in the Colombian market.

To know more about the latest US trade trends and top US exporter companies, visit USImportdata & contact us at info@tradeimex.in.