The following export product groups represent the highest dollar value in Colombian global shipments during 2017. Also shown is the percentage share each export category represents in terms of overall exports from Colombia.

1. Mineral fuels including oil: US$20.4 billion (54% of total exports)
2. Coffee, tea, spices: $2.6 billion (6.9%)
3. Gems, precious metals: $2 billion (5.3%)
4. Live trees, plants, cut flowers: $1.4 billion (3.8%)
5. Plastics, plastic articles: $1.4 billion (3.6%)
6. Fruits, nuts: $1.1 billion (2.9%)
7. Sugar, sugar confectionery: $569.1 million (1.5%)
8. Animal/vegetable fats, oils, waxes: $542.6 million (1.4%)
9. Vehicles: $539.3 million (1.4%)
10. Machinery including computers: $469.6 million (1.2%)

Colombia’s top 10 exports accounted for over four-fifths (82.1%) of the overall value of its global shipments.

Animal or vegetable fats, oils and waxes were the fastest-growing among the top 10 export categories, up 47.2% in value from 2016 to 2017.

In second place for Colombia’s improving export sales was mineral fuels including oil via a 38.9% uptick, propelled by accelerating revenues for crude oil and coal.

Gems and precious metals posted the third-fastest gain in value up 15.4% mainly due to higher international sales of Colombian gold, precious metals scrap and jewelry.

Vehicles was the only declining top category thanks to a modest -2.5% drop.

The following types of Colombian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports is the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Mineral fuels including oil: US$16.7 billion (Up by 53.7% since 2016)
2. Coffee, tea, spices: $2.5 billion (Up by 4.4%)
3. Gems, precious metals: $1.9 billion (Up by 18.8%)
4. Live trees, plants, cut flowers: $1.4 billion (Up by 6.6%)
5. Fruits, nuts: $859.4 million (Up by 3.9%)
6. Sugar, sugar confectionery: $401.8 million (Up by 18.2%)
7. Raw hides, skins not furskins, leather: $97.1 million (Down by -11%)
8. Cocoa: $60.1 million (Down by -5.9%)
9. Ores, slag, ash: $47.7 million (Up by 85.1%)
10. Live animals: $33.5 million (Down by -20.3%)

Colombia has highly positive net exports in the international trade of mineral fuels-related exports particularly crude oil and coal. In turn, these cashflows indicate Colombia’s strong competitive advantages under the oil product category.

Overall Colombia incurred a -$8.3 billion trade for 2017 deficit down by -40.3% from the -$13.9 billion in red ink during 2016.

Below are exports from Colombia that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Colombia’s goods trail Colombian importer spending on foreign products.

1. Machinery including computers: -US$5 billion (Up by 4.1% since 2016)
2. Electrical machinery, equipment: -$4.5 billion (Up by 9.3%)
3. Vehicles: -$3.1 billion (Down by -4%)
4. Organic chemicals: -$1.9 billion (Up by 6%)
5. Pharmaceuticals: -$1.8 billion (Up by 9.4%)
6. Cereals: -$1.5 billion (Down by -2.3%)
7. Optical, technical, medical apparatus: -$1.3 billion (Down by -1%)
8. Aircraft, spacecraft: -$951.6 million (Up by 7.7%)
9. Iron, steel: -$903.1 million (Up by 4.7%)
10. Rubber, rubber articles: -$867.2 million (Up by 9.4%)

Colombia has highly negative net exports and therefore deep international trade deficits for machinery particularly computers.

These cashflow deficiencies clearly indicate Colombia’s competitive disadvantages in the international machinery market, but also represent key opportunities for Colombia to improve its position in the global economy through focused innovations.

Colombian Export Companies

Six Colombian corporations rank among Forbes Global 2000. Below is a sample of the major Colombian companies that Forbes included:

• Ecopetrol (fuel, petrochemicals)
• Grupo Argos (construction materials)

Wikipedia also lists exporters from Colombia. Selected examples are shown below:

• Alpina Productos Alimenticios (dairy products)
• Auteco (vehicles)
• Manuelita (sugar, fruits, vegetables)
• Organizacion Corona (ceramics)
• Ospina Coffee Company (coffee)