The agricultural sector is the main driver of bilateral trade between Colombia and the United States, offering sustained growth throughout the year, through October, and the potential continues.
This was announced by María Claudia Lacouture, CEO of AmCham Colombia, who highlighted that “in a recent study that we conducted, we found that only the agro-industrial sector, that is, value-added products, can grow up to 250% in the next decade.”Towards the United States and with opportunities for different regions of the country.
According to Jamsham, Colombian sales to the agricultural sector of the United States recorded 3803 million dollars in the first ten months of this year, With a growth rate of 35% compared to the same period last year, which was 2,819.4 million dollars, and at the same time, it is the largest annual increase that occurred in the trade exchange of both countries in the history available to the Danish.
Regarding January and October 2020 inflows, the recovery was 61% totaling $2,362.9 million. And 60% compared to the previous year 2019, recording 2,378.9 million.
In this way, the agricultural sector remains the main marketing sector between Colombia and the United States, so far this year, until October, this component represented 59% of non-mining energy exports.
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It was also confirmed that NME sales (non-mining and energy) represented 51% of the total basket and were recorded at $6,402.1 million between January and October 2022, showing a growth of 21% compared to the results of January and October 2021, which were $5,301.7 million. dollar.
According to Lacouture, “The non-mining energy sector should be a scenario that is prioritized by the public and private sectors so that the current opportunities can be realized. Actions that allow the business community to create employment opportunities must be promoted, and at the same time, productivity is the overarching focus of a common and long-term goal, such as exports.
He also explained that if it is observed through products, the main growth in this item occurred in metals and manufacturing, as it grew by 58%, rising from $355.0 million between January and October 2021 to $560.7 million at the same time this year.
Prices of coffee, tea and spices increased from $1,039.0 million in the first ten months of 2021 to $1,488.0 million, an increase of 43.2%; Sugars and sweets reached figures of $108.5 million and increased by 42.7%.
Similarly, food, beverages and tobacco stood out (+39.8%); chemical products (+ 38.3%); auto parts (+36.7%); iron and steel foundry products (+ 32.6%); fish (+ 32.4%); Paper and articles thereof (+29%); electrical machinery inputs (+28.3%); flowers (+ 28.2%); vegetables (+27.8%); fruit (+ 26.3%); plastic (+ 16.9%); leather and leather products (+ 12.7%); and clothing (+5.4%), among others
The executive officer added, “Challenges still remain and it has the potential to continue to benefit from the trade agreement, especially in value-added products and intermediate goods, as the United States has great demands for these inputs.”
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