Within the framework of the World Population Day celebrated on July 11, the National Association of Foreign Trade (Analdex) took the opportunity to dto stake the exports that Colombia makes to the two most populous countries in the world: India and China.
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In addition, and taking into account that by the end of 2023 India will reach 1,428 million inhabitants, while China would register 1,425 million, according to the United Nations Population Fund (Unfpa), lThe entity also pointed out the opportunity that the country and even its merchants and businessmen have to conquer small consumer niches in said countries.
In the case of India, which is the country with the most inhabitants on the planet, Colombia annually exports close to 2,400 million dollars, being this the fourth destination of Colombian exports. For his part, for china the figure is around 2,100 million dollars, which makes it the seventh buyer of national goods.
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Precious metals, among what Colombia exports the most to China and India.
Oil, what Colombia exports the most to China and India
Among the products that The most exported to India is oil and its derivatives, precious metalscoal, waste and waste minerals
metal, wood and plastic in primary forms.
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In the case of China External sales were mainly oil and its derivatives, ferronickel, waste and scrap of metallic minerals, green coffee, coal and precious metals, according to 2022 figures from the National Department of Statistics (Dane).
An opportunity for the country and its merchants
We see that the National Government wants to strengthen this trade agenda with the Global South
“According to TradeMap, Colombia appears as the 36th supplier in India and the 50th with China. We see that the National Government wants to strengthen this trade agenda with the Global South, which includes Asia and It seems to us that these two destinations, which import more than US$3.2 billion a year from the world, can represent some supply opportunities for national entrepreneurs”highlights Javier Díaz, president of Analdex.
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Taking all these data into account, the executive also explained that the country has a great opportunity and the need to diversify Colombian exports, particularly towards non-mining-energy destinations. He pointed out that Colombia lags behind Chile, Mexico and Peru in sales to China and other countries in the Asia Pacific region. In addition, he highlighted the diversity of consumption habits and cultures in Colombia, which implies a wide and varied market potential and forces companies to clearly define their public objective.
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