Colombia

The United States-Colombia Trade Promotion Agreement (CTPA) was signed on November 22, 2006. Colombia's Congress approved the CTPA and a protocol of amendment in 2007. Colombia's Constitutional Court completed its review in July 2008, and concluded that the Agreement conforms to Colombia's Constitution. The United States has not yet approved the TPA.

U.S.-Colombia Trade Facts

Colombia is currently our 27th largest goods trading partner with $24.5 billion in total (two way) goods trade during 2008. Goods exports totaled $11.4 billion; Goods imports totaled $13.1 billion. The U.S. goods trade deficit with Colombia was $1.7 billion in 2008.

Exports

Colombia was the United States' 26th largest goods export market in 2008.

U.S. goods exports to Colombia in 2008 were $11.4 billion, up 33.7% ($2.9 billion) from 2007, and up 181% from 1994 (the year prior to Uruguay Round).

The top export categories (2-digit HS) in 2008 were: Machinery ($2.6 billion), Mineral Fuel (oil) ($997 million), Organic Chemicals ($974 million) Cereals (corn and wheat) ($969 million), and Electrical Machinery ($948 million).

U.S. exports of agricultural products to Colombia totaled $1.7 billion in 2008, the 15th largest U.S. Ag export market. Leading categories include: coarse grains ($633 million), wheat ($330 million), soybean meal ($121 million), and feeds and fodders (excluding pet food) ($102 million).

Imports

Colombia was the United States' 29th largest supplier of goods imports in 2008.

U.S. goods imports from Colombia totaled $13.1 billion in 2008, a 38.8% increase ($3.7 billion) from 2007, and up 313% over the last 14 years.

The five largest import categories in 2008 were: Mineral Fuel and Oil (crude) ($8.4 billion), Spices, Coffee, and Tea (mostly coffee) ($823 million), Precious Stones and Metals (Gold) ($735 million), and Other Special Imports (low valued shipments) ($621 million) and Live Trees and Plants (cut flowers) ($516 million).

U.S. imports of ag products from Colombia totaled $1.8 billion in 2008, the 15th largest supplier of Ag imports. Leading categories include: coffee (unroasted) ($805 million), nursery products & cut flowers ($516 million), and bananas & plantains ($208 million).

Trade Balance

The U.S. goods trade deficit with Colombia was $1.7 billion in 2008, a 89.0% increase ($780 million) over 2007.

Investment

U.S. foreign direct investment (FDI) in Colombia (stock) was $5.6 billion in 2007, a 21.2% increase from 2006.

U.S. direct investment in Colombia is primarily concentrated in the mining, and manufacturing sectors.

Colombia FDI in the United States (stock) was not available in 2007.