Colombia exports $12.4B of crude oil, powering industries worldwide.

Colombia is the world’s leading exporter of crude petroleum, with exports valued at $12.4 billion USD in 2023. The top destinations for Colombian crude are the United States ($4.5B), China ($2.7B), Panama ($1.5B), Ecuador ($1.2B), and Brazil ($1.0B). These nations rely on Colombian crude for refining into essential petroleum products used in transportation, industry, and energy production.

The future of Colombia’s crude exports faces challenges such as fluctuating global oil prices, environmental concerns, and increasing global interest in renewable energy. However, Colombia is also exploring renewable energy projects and expanding other export sectors like agriculture to diversify its economy.

Can Colombia strike a balance between oil exports and sustainability? Let us know your thoughts below!