The advantages of Colombia in the face of trade tensions in the US and China

For the moment the Trade relations between China and the United States seem unresolved. This situation has been beneficial for Colombia, which has benefited from the low tariffs due to the FTA and the opportunities in North American markets.

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According to Dane, last year Colombia exported 57,115 million dollars. This meantor an increase of 38% compared to 2021. Oil and its derivatives were the ones that led, but the balance also showed that Colombia took advantage of the tensions that the economic giants are experiencing.

For example, the US Census Bureau reported purchases of Colombian products in the United States for 3.745 million dollarss. An increase of 81.9% compared to 2019 records when exports to that country reached 2,063 million dollars, according to ‘Cambio’.

For her part, María Claudia Lacouture, president of the Colombian American Chamber of Commerce, assured that This behavior demonstrates the export diversification and “indicates a process of taking advantage of the FTA between Colombia and the United States, where 27 Colombian products with a commercial opportunity in the US-China tension have accentuated their presence in the US market.”

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Undoubtedly, the protagonists have been agricultural products that had sales of 2,032 million dollars to the United States last year, 54.3% of sales with a growth of 63.6% in 2019.

Then, secondly, there were precious metals and stones with exports of 1,528 million dollars, a little more than double the pre-pandemic record, according to ‘Cambio’.

“Colombian products with opportunity that have managed to consolidate in the US market due to a slowdown in China were: coffee, with sales of 1,931 million dollars; gold, with shipments of 1,253 million dollars, and precious or semi-precious stones, with exports of 274.9 million dollars”according to AmCham.

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