Colombia is a transcontinental country that spans South America and a small part of North America. Colombia’s north and west coastlines are bordered by the Caribbean Sea and the Pacific Ocean, respectively. The country has five large ports and roughly 15 river ports.
Natural resources, the agricultural and manufacturing sectors are expanding in this country. It has been able to diversify its international commerce and generates considerable foreign exchange earnings thanks to free trade agreements with developed countries.
For the purpose of attracting enterprises and foreign direct investment, the government has made major investments in improving port facilities and infrastructural development. Tourism has also contributed to economic growth by providing job opportunities.
Colombia has significant trading ties with the United States, China, the European Union, and a few Latin American countries.
Colombia shares land borders with Brazil, Ecuador, Panama, Peru, and Venezuela, as well as sea borders with Costa Rica, Dominican Republic, Honduras, Haiti, Jamaica, and the Cayman Islands.
Colombia’s biggest exports include crude oil, coal, coffee, gold, and petroleum products, which are mostly sent to the United States, China, Panama, Ecuador, and Brazil.
Telecommunication Equipment, Refined Oil, Cars, Medical supplies, and Corn are Colombia’s biggest imports, with the majority coming from the United States, Mexico, China, Germany, and Brazil.
Colombia was the largest importer of auto parts in the world in 2020.