Top 10 U.S. Agricultural Exports to Republic of colombia

(values in 1000000 USD)
Commodity 2015 2016 2017 2018 2019 % Change
2018-2019 		5-Yr Average
2015-2019
Corn 770 771 785 927 683 -26% 787
Soybean Meal 311 259 340 481 425 -12% 363
Soybeans 199 195 212 256 222 -13% 217
Pork & Products 102 105 163 215 222 3% 161
Dairy Products 55 88 65 73 145 100% 85
Wheat 166 181 173 88 137 55% 149
Poultry Meat & Products* 44 66 70 82 114 39% 75
Feeds & Fodders NESOI 79 76 lxxx 98 lxxx -xviii% 83
Prepared Food 101 97 53 65 76 17% 79
Soybean Oil 25 62 73 100 57 -43% 63
All Other 557 483 514 520 523 one% 520
Full Exported ii,410 2,383 2,528 ii,904 2,684 -8% two,582

Source: U.S. Census Agency Merchandise Information - BICO HS-ten
*Excludes eggs

Highlights

In 2019, Republic of colombia was the 12th largest destination for U.Due south. agronomical exports, which totaled $2.7 billion, an 8 percent decrease from 2018. The United States is Colombia'south peak supplier of agricultural goods with 44 percent market share, alee of the Eu with 7 percent. The U.S.-Republic of colombia Merchandise Promotion Agreement (CTPA) has expanded export opportunities for many agricultural products. The largest twelvemonth-to-yr export increases were seen in dairy products and wheat, upwards $73 million and $49 meg, respectively. Additionally, increases in exports of poultry meat & products (excluding eggs) and prepared foods were up $32 million and $eleven 1000000, respectively. Exports of corn were downwards by more than $244 million. Exports of soybean meal, soybean oil, and soybeans were down $56 meg, $43 million, and $34 million, respectively. In 2019, Colombia was the world's 4th largest market for U.South. corn exports, 7th largest market for U.S. pork, 9th largest market for U.Southward. poultry, and tenth largest market for U.Due south. dairy products.

Drivers

  • In 2019, U.S. consumer-oriented agricultural product exports to Colombia, including dairy, poultry, meat products, and prepared foods, were up 21 percent to nearly $800 one thousand thousand. Continued strong economic growth of 3.three percent in 2019 drove the demand for imported goods.

  • In 2019, competitive prices helped U.Due south. wheat exporters increase its market place share in Colombia to 33 percent from 25 percent in 2018.

  • U.S. bulk commodity exports such as corn and soybeans were hurt by the strong U.South. dollar and increased competition from Brazil and Argentina.

  • Mercosur countries, Brazil and Argentina, benefited from competitive prices nether the Andean Community Price Band System, which grants them preferential duty treatments. U.S. corn market place share in Colombia decreased from 97 per centum in 2018 to 68 percent in 2019 equally the U.S. experienced college prices compared to Southward American competitors.

  • In 2019, Colombia imported larger quantities of soybean meal and soybeans compared to the previous yr as a issue of increased demand past Colombia's feed industry. In 2019, the United States market share for soybean and soybean meal was 100 percent and 80 percent, respectively, making Colombia the 3rd largest market for U.Due south. soybean repast globally.

Colombia's Agricultural Suppliers
Graphic showing global agricultural suppliers to Colombia 2015 - 2019

Looking Ahead

Colombia is the leading destination for U.Due south. agronomical exports to S America, and the United States continues to be the main supplier for most Colombian agricultural imports due to CTPA merchandise preferences. In 2019, 44 percent of all food and agronomical products imported to Colombia came from the United States.
In 2020, the United states of america may go on facing increased competition from South American exporters considering of the Colombia-Mercosur Economic Complementation Agreement, which removes or lowers duties on many agricultural products imported from Brazil, Argentina, Paraguay and Uruguay.

Income and population growth in Republic of colombia are projected to continue driving increases in need for most imported agricultural products. Well-nigh importantly, corn, soybean meal and soybean oil imports are expected to grow over the next ten years and the United States is in a favorable position to see Colombia'due south needs. Although the COVID-xix pandemic will temporarily slow economic growth and demand for imports, Colombia is expected to brand a fast economic recovery. U.S. consumer-oriented food exports, such as pork, poultry and dairy, are expected to proceed rapid growth in Colombia as economic growth and eye-form expansion render.

Competition from Canadian wheat exporters continue to be the most significant claiming for U.S. exporters. The Republic of colombia-Canada Free Trade Understanding was signed a year before the CTPA, which resulted in a "caput-showtime" advantage to Canadian exporters that strengthened their trade relations with Colombian millers.

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