Colombian exports are recording a record 2022 as they are driven by the historical prices of raw materials, by geopolitical conflicts, and by the volatility of the exchange rate that led the US dollar to exceed the psychological threshold of $5,000 for the first time.
(Deficit of the trade balance added US$10,861.9 million to September).
This reflects that, in terms of the value of sales abroad, between January and September of this year (US$43,828.8 million) they have already exceeded the entire year 2021 (US$41,223.9 million).
Historical data is not only reflected in terms of price (a real trend due to a higher exchange rate), but also in terms of the volume of merchandise movement.
Thus, in the measurement of the current year, between January and September 77,405,087 tons were mobilized, that is, 6% more than in the same period last year when 72,992,480 tons.
Explaining 70,572,903 tons is the fuel division, which grows by 6% compared to the volume of 2021, 66,550,735 tons.
Next, the second category that most marks the movement of cargo is the one that groups agricultural, food and beverage which grows by 5.2% between the 2021 level (4,167,533 tons) versus the current one (4,383,560 tons).
However, in terms of percentage growth, the one that registers the greatest momentum is manufacturing by 7.7%, due to better volumes this 2022 (2,445,808 tons) compared to the level of a year ago (2,271,309 tons). tons).
(The products that Colombia has exported the most so far in 2022).
The only division that goes back between its 2021 and 2022 values is that called ‘others’ that groups some particular subcategories, such as unclassified postal packages or coins that do not have legal tender.
Thus, The 2.9% drop in this segment is explained by a volume of 2,902 tons in 2021 versus 2,817 tons in 2022.
However, once per month, in September the country’s foreign sales also expanded at a level of 7.7% annually; from 8,427,136 tons in 2021 to 9,077,779 tons in 2022.
It is also worth noting that, in terms of values, in September the country received US$4,778.6 million, an expansion of 26% compared to the same month last year and in turn is the highest volume for this month since 2019.
Among the main Colombian export products in metric quantities, the country’s traditional offer stands out: oil and coal.
The latter is the main Colombian export product at this time by volume mobilized. In nine months of the year, 41,118,703 tons have been transported, an increase of 3.15% compared to the same period of the previous year. In turn, this product represents 53.1% of the volume share of the total exported.
However, in terms of collection, this amounted to US$7,293.7 million until September, a considerable advance compared to the US$2,598.7 achieved for the same period of 2021.
Thus, on the other hand, for January-September 2022, 19,672,647 tons of crude oils have been mobilized, which represented a variation of 9.15% compared to the same period in 2021 when it reached 17 minutes. 966,904 tons.
However, it is worth noting that in terms of the monthly evolution of September, the quantities of crude oil exported fell by 7.5%, going from 2,699,416 last year to 2,496,314 in 2022.
(As of September, Colombian exports already exceed the total for 2021).
“Despite the still high international oil prices, the country failed to keep pace from the quantities sold. Indeed, although the value sold grew 5.5% per year, this was not accompanied by the volume of exports, since there was a decrease of 7.6% per year in the quantity mobilized”pointed out an analysis prepared by the Bancolombia Economic Research Group.
This same report also records the monthly fall of ferronickel of 26% in collection after a decrease in the amount mobilized by 33%.
What about the coffee?
Unroasted coffee, a variation of one of Colombia’s leading export products, is not posting its best year.
According to the bulletin of the National Administrative Department of Statistics (Dane), 474,475 tons of coffee have been marketed so far this year, this is a 6.01% drop compared to what had been registered last year 2021 when it was of 503,012 for this same period.
This drop is offset by the collection from the grain. Between January and September of this year, the country has received US$3.03 billion, significant growth compared to the US2,104 million obtained in the same period last year.
However, on a monthly basis, as stated in the report by Bancolombia’s Economic Research Group, the value of coffee sold increased 26.3% annually despite a 6.4% decrease in volume.
“In effect, the historical levels in the price have managed to balance the fall of the sector. In fact, the price is 217% higher than the average for 2019 due to breaches of coffee export contracts in Brazil that would be generating a significant imbalance between supply and demand.” He pointed to the document.
Continuing with the review of the most representative products of the country, the sale of meat and derived products is another of the branches that is facing a setback this year. Until September 2022, 31,990 tons have been sold, a 22.90% drop compared to the amount mobilized in 2021, of 41,498 tons.
Meanwhile, among the products that have managed to rebound in foreign trade this year, the hass avocado stands out with a growth of 9.01% in terms of tons marketed (75,900) and flowers (86,711), with a rebound of 43.61%.
In terms of income, an Analdex report indicates that among the non-mining and energy products, those with the greatest contribution have been “unroasted coffee with US$3,030.0 million, followed by flowers and plants with US$1,656.5 million and plastic materials US$1,592.1 million.
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