Colombian Exports soared 48.8%

elk says on Apr 27, 2008, 02:50:

This even with the strong Peso!

Ctg Bound says on Apr 27, 2008, 05:10:

The strong peso won't make any differance to the majority of Colombian exports.

Even many of the exports that Colombia does where it could make a differance to I doubt it will, for the simple reason most of the competion from other Countries in the same areas of exporting are appreciating as well.

There isn't enough information in the two articles posted, but I expect most of the jump in exports is down to an increase in value of the exports due to the commodity prices increases in the world markets.

Ctg Bound says on Apr 27, 2008, 05:11:

Colombia exports up 51.9 percent in first 2 months this year

Bogota, Apr 26, 2008 (EFE via COMTEX) -- -- Colombian exports soared 51.9 percent in the first two months this year over the same period in 2007, the National Department of Statistics (Dane) announced Saturday.

Exports during this period were valued at $5.7 billion, and in February alone total sales abroad grew by 48.8 percent.

According to the statistics department, between January and February 2007 exports amounted to $3.7 billion.

The "country's exporting dynamic was driven mainly be a 74.8 percent increase in the exports of traditional products, basically in the sales of crude oil and its derivatives," Dane said.

Non-traditional exports showed a 32.7 percent increase that stemmed chiefly from greater sales of clothing and chemical products.

According to Dane, the biggest contribution to the export surge came from products sold to the United States, which racked up a 48.2 percent increase, boosted mainly by sales of fuels, mineral oils and their by-products.

Dane also reported that during the first two months of 2008, Colombia's trade balance showed an overall surplus of $42.6 million.

The biggest surpluses were with Venezuela, the United States, Ecuador and Belgium.

In the case of Venezuela the surplus reached more than $732 million, while with the United States the amount was $295.1 million.

The trade surplus with Ecuador was $76 million and with Belgium more than $69 million.


LINK:

http://www.tradingmarkets.com/.site/news/Stock News/1444283/

OneHappyBoy says on Apr 27, 2008, 07:37:

Good for Colombia! and good for Venezuela for buying Colombian!!! I thought Chavez's socialist's utopia was supposed to make Venezuela self sufficient agriculturally speaking? Isn't that the majority of imports from Colombia? Chavez!! one crazy dude!!!

Words are just words. nothing more or less, but eloquently expressed, like a symphony to Beethoven's ear, no army can defeat and no oppression can exist.

robi666 says on Apr 27, 2008, 07:51:

I'd say too good to be true, or some info are missing. We'll see.

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

Rikito says on Apr 27, 2008, 07:54:

but shame on those bad bad American's for buying Colombian goods. so thta's how they are going to take over Colombia...buy it. The biggest shipment of goods to the U.S. was Arguiedente & Chorizo's to Elmo. (sorry bout the spelling)

It is not life that matters, but the journey.

OneHappyBoy says on Apr 27, 2008, 08:03:

Damn!! that's a lot of Chorizos!!!!

Words are just words. nothing more or less, but eloquently expressed, like a symphony to Beethoven's ear, no army can defeat and no oppression can exist.

Boatygringo says on Apr 27, 2008, 08:50:

Lets face it the biggest export to the USA was Coke, and that dosn;t count in the 48.8%

Boatygringo

Cerealkiller says on Apr 27, 2008, 08:58:

Robi Im kind of in agreement with you. There is something missing, tons of other industries are closing up big time, look at the flower exports, not much left in there. Food exports are pretty poor as well...I have to say I am not a huge DANE fan, I have the gut feeling they haven't solved their data inflation problem.

Conservatives are not necessarily stupid, but most stupid people are conservatives -John Stuart Mill

Tinto (Moderator) says on Apr 27, 2008, 09:04:

Oil prices have doubled since a year ago, coal is very strong, coffee prices are higher, and it's easy to believe that values of petro-derived products follow crude oil, so at first glance the report seems credible. The numbers for individual sectors, by month, are available on the DANE site if anyone wants to dig into them.

robi666 says on Apr 27, 2008, 09:08:

That's a quite reasonable explanation Tinto... although the greatest surplus was with Venezuela.

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

Ctg Bound says on Apr 27, 2008, 09:24:

Tinto,

Any link Tinto?

robi666 says on Apr 27, 2008, 09:26:

http://www.dane.gov.co/files/investigaciones/boletines/exportaciones/b...

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

Tinto (Moderator) says on Apr 27, 2008, 09:29:

In addition to Robi's (that file has a LOT of information), the one below will lead you to a page where most of the report names (they are hyperlinks) will open as an Excel file.

http://www.dane.gov.co/index.php?option=com_content&task=category§...

Ctg Bound says on Apr 27, 2008, 09:36:

Thanks Guys

Simon says on Apr 27, 2008, 12:09:

Way to go Colombia!!

"You want to talk to God? Let's go see him together, I've got nothing better to do."---Indiana Jones (Raiders of the Lost Ark)

jarhead says on Apr 27, 2008, 12:32:

Most of that increase, if not all of it has to do with the soaring prices of oil, and oil derived products...... exports not related to oil, minerals, coffee, and a few other "basic" traditional items, are flat, or are "in the toilet" sort of speak.......there have been over 18,000 jobs lost in the flower industry alone, not to count the other thousands of jobs lost in other "non traditional" industries.....Simon, I wonder if you know how many people are directly affected by the loss of just one descent paying job here in Colombia???????......way to go Colombia....the strong peso is having dire consequenses in certain sectors of the economy here, but this is something the Dane, and the "goons" who run it, will not let the public know about...

RAAAY says on Apr 27, 2008, 12:48:

Cerealkiller says....
......." There is something missing, tons of other industries are closing up big time, look at the flower exports, not much left in there."


On Wednesday just passed, I went to the cargo section of Medellin airport. I have been there many times. This time the parking lot was full of trucks. Nothing like I have ever seen before.

I spoke with the guy who runs Girag Air transport, who I have done business with before. The fist available slot I could get, to ship something to Miami, is two weeks from now. He told me they are so busy with flowers right now.

Also, Proexport have really gotten their act together, promoting non-traditional exports. They still have a long way to go, but, it does'nt surprise me that the numbers are improving.


.

.........Its useless to argue with ignorance

Cerealkiller says on Apr 27, 2008, 13:15:

Raay I can tell you with certainty that the flower business is dying in Colombia. Go to the sabana in Bogota, which is the countries largest flower producing zone, pretty much all farms are closing. The largest owners of flowers in Colombia, a colombo-british family are selling over 10000 hectares of flowers, one large plot because the business is crap. In addition, no one buys colombian flowers anymore, at least not in Europe, they all come from Kenya. Its a shame, because Colombia offered unique varieties but ever since some narco decided to buy a flower business and put cocaine in the boxes instead of flowers, the industry has never been the same. Trust me, I reeeeally know what Im talking about.

Conservatives are not necessarily stupid, but most stupid people are conservatives -John Stuart Mill

RAAAY says on Apr 27, 2008, 13:40:

Cerealkiller............I'm not doubting you. I just gave my own experience of what I witnessed last week. I can fully understand, how some industries here will hurt, because of the strong Peso. Others will continue to flourish. But, what I saw, and was told last week, suggests Doom and Gloom has not arrived just yet.


.

.........Its useless to argue with ignorance

Rikito says on Apr 27, 2008, 13:52:

I have bought Colombian flowers for many years. When I lived in the U.S....Colorado, I bought flowers from Colombia from Safeway and King Soopers. Now that I am here I buy fesh flowers every week for our home. It is sad to think that my next purchase may come from Kenya! :-(

It is not life that matters, but the journey.

Ctg Bound says on Apr 27, 2008, 15:02:

Rikito,

I doubt they will come from Kenya, Kenya is closer to Europe than the US, so its more practical that they supply the European market than Colombia or other South American Countries.

Cerealkiller says on Apr 28, 2008, 00:48:

Ctg, youre right...ecuador and chile are doing mighty fine, but then again the have FTAs

Conservatives are not necessarily stupid, but most stupid people are conservatives -John Stuart Mill

miamimike says on Apr 28, 2008, 08:09:

Rikito says on Sunday April 27th, 2008 13:52:

I have bought Colombian flowers for many years. When I lived in the U.S....Colorado, I bought flowers from Colombia from Safeway and King Soopers. Now that I am here I buy fesh flowers every week for our home. It is sad to think that my next purchase may come from Kenya! :-(
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Rikito-On the Colombian Cut Flower Exports, don't be worried about competition from Kenya; be worried about competition from the 800 pound Gorilla we refer to as China. For what it is worth, at least Kenya has a True Floating Currency! They have huge acreages in their vast Country perfect for Flower cultivation(roses, mums ect) and they are perfecting the methods needed for preserving cut flowers for their long air journey to Europe and the USA. Add this to the fact they(chinese) essentially have a non floating currency and its a recipe for disaster for countries such as Colombia and its cut flower trade. They'll do to Colombia's Cut Flower Industry what the Chinese did to our Textile and Furniture manufacturing Industries in the southern USA. In essence, these aforementioned domestic industries were decimated,,,

A friend of ours recently started a Winery in Pennsylvania and while they are off to a good start, he informed me that their big future concern is competition from no other then the Chinese and their Wine Exports. Already, Chinese Wine is starting to show up on the Shelves of Miami Wine Venders with favorable reviews,,,

Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we." GW Bush

miamimike says on Apr 28, 2008, 09:32:

CK- Ecuador and Chile are not in the same Andean Trade Pact. Ecuador currently has the same preferences as Bolivia and Colombia. Peru was in the Original Andean Trade pact passed in 1991 that included the 4 Andean nations of Peru, Bolivia, Colombia and Ecuador. Chile was never in this 4 country original pact; last year, when Peru instituted stricter measureable Labor and Enviromental Standards in their country, Congress renewed their(peru) FTA individually. I cannot understand why, in 1991, when this Andean Trade Preference act was passed, why US Companies such as Caterpillar and Various companies exporting Oil Industry Equipment, were not given recipricocity on the exporting of their Products to these 4 countries tax free, the same benefits we gave. In hindsight, it looks like this Andean Trade pact was pretty one sided and overly Generous on the part of the US, to the detriment of our own Domestic industries. It certainly didn't allow for equal free trade! People seem to overlook that fact in their criticism of the stalled trade act in congress now; no one can say we have NOT been overly generous towards Colombia as far as duty free trade and Billions the US taxpayers have sent to Colombia via Plan Colombia, which is largely responsiblefor the much improved security we see in Colombia today.Mr Uribe fails to mention this fact in his current criticism of the stalled FTA,,,

http://blogs.customhouseguide.com/news/?p=535

Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we." GW Bush

miamimike says on Apr 28, 2008, 09:42:

He continued, “For the past 16 years, Colombia and Peru have had almost duty-free access to the U.S. market. Last Fall, Congress took a step toward allowing U.S. exports to benefit from two-way trade by approving the U.S.-Peru Trade Promotion Agreement. Now, it is time for Congress to provide U.S. farmers and ranchers with duty-free access to an even larger market by approving our agreement with Colombia.‿

United States Trade Representative Susan C. Schwab concurred, and she looked to the free trade agreements with Peru and Colombia to provide additional benefits to U.S. exporters.

“While the Andean Trade Preference Act (ATPA) has helped generate economic opportunities in the region, we now have a chance to expand economic opportunities for hardworking American companies, farmers and workers as well,‿ she commented. “Passage of the Colombia FTA will level the playing field for U.S. goods and services in one of Latin America’s fastest growing emerging markets. At the same time, the FTA provides Colombia permanent and stable access to our market. Congress should seize the opportunity to support a key ally and establish a reciprocal trade partnership with Colombia by approving the FTA.‿

In 1991, the U.S. Congress authorized duty-free benefits for four Andean nations (Colombia, Peru, Ecuador and Bolivia) under ATPA to help in their fight against illegal drug production and trafficking by expanding their economic opportunities. As part of the Trade Act of 2002, Congress renewed and enhanced the trade preferences for all four countries under the Andean Trade Promotion and Drug Eradication Act (ATPDEA), which expired on December 31, 2006. Congress has twice extended the program, most recently until February 29, 2008.

This entry was posted on Friday, February 29, 2008 at 10:19 am and is filed under Andean Trade Preference Act, Peru, Colombia, Free trade agreements.

Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we." GW Bush