By: Nicolás Rincón Munar/ Economic Affairs Director/ Analdex
1. Exports July
In the month of July, exports from the country's free zones increased by 45.0% compared to 2020, rising from USD FOB 189.4 million to USD FOB 274.7 million in 2021. Similarly, exports by metric tons represented a growth of 34.3%, from 325.6 thousand metric tons in 2020 to 437.2 thousand metric tons in 2021.
Exports from Special Permanent Free Trade Zones (EPZs) recorded a growth of 108.3%, which contributed 40.0 percentage points to the total change in exports (45.0%). This type of free zones, where a single company carries out industrial or service activities, had a share of 53.1% of total exports from free zones.
In the same month of 2021, the Permanent Free Trade Zones (PFTZ) showed an increase in exports of 8.0% compared to the same month of 2020, contributing positively with 5.0 percentage points to the total variation (45.0%). Free zones where several companies operate, developing industrial activities or services considered as projects of high economic and social impact for the country had a share of 46.9% of exports from free zones.
PFE Rionegro and Palmaseca had the highest exports in July, while PFE Dexton Industrial Park, PFE SurColombiana and PFE Tayrona had no exports in the month under analysis.
2. Exports January - July.
So far this year (January-July), a growth of 20.9% was recorded in the shipment of goods abroad from the free trade zone, from USD FOB 1,330.2 million in 2020 to USD FOB 1,608.4 million in 2021. However, this positive variation was not evident in the volume of tons exported, which were 2,683.3 thousand metric tons in 2021 compared to 2,968.2 thousand metric tons in 2020. The volume of tonnes showed a negative variation of 9.6% compared to the first seven months of 2020.
2.1 Main destinations of exports from the Free Trade Zone
From January to July 2021, the United States was Colombia's main trading partner with exports to this destination worth USD FOB 701.3 million and an increase of 42.9% compared to 2020. Likewise, the main trading partners were the Andean Community USD FOB 179.5 million, Puerto Rico USD FOB 155.6 million, and India USD FOB 134.7 million. It is important to highlight the 26.3% growth in exports to the Andean Community, and the 19.4% growth in exports from India, which makes them attractive destinations for different free trade zone users.
3. Imports July
In July 2021, FTZ imports grew 92.0% from USD CIF 66.9 million in July 2020 to USD CIF 128.5 million in the same month of 2021. The volume of imports showed an increase of 3.6% from 109.3 thousand metric tonnes in 2020 to 113.3 thousand tonnes in 2021.
In July 2021, the behaviour of total imports was mainly explained by the growth in purchases abroad of the Permanent Free Trade Zones (PFTZs), which had a variation of 80.6% and contributed 57.4 positive percentage points to the total variation and the Special Permanent Free Trade Zones (EPZs) increased their imports by 120.1%, contributing 34.7 positive percentage points to the total variation of imports.
The main free trade zones that imported were PFE Parque Industrial Dexton, PFE Gachancipá (ZOFRANDINA), and PFE Parque Central, showing variations of more than 100%.
4. Imports January - July
During the first seven months of the year 2021, imports from free zones reached a value of USD CIF 876.2 million, compared to that recorded in 2020 where it reached for the same period a value of USD CIF 611.9 million, representing a positive variation of 43.2%.
The variation in total imports (43.2%) was mainly explained by higher temporary inflows from the rest of the world of raw materials, inputs, intermediate goods, parts and pieces to be transformed, which represent 80.4% of imports, and the inflow of machinery, equipment and spare parts, which have a share of 18.4%.
4.1 Main countries of origin of imports from the Free Trade Zone.
From January to July 2021, the United States was the main origin of imports, worth USD FOB 329.7 million and an increase of 23.3% compared to 2020. Likewise, the main trading partners were China USD FOB 127.9 million, India USD FOB 86.5 million, Germany USD FOB 68.3 million, and Spain USD FOB 36.1 million. It is important to highlight the 394.1% growth in imports to India, and the 136.5% growth in imports to Germany, which makes them an attractive origin for different free trade zone users.
5. Balance of trade
So far in 2021, the trade balance of the Colombian free trade zones recorded a surplus of USD FOB 779.9 million, an increase of 4.9% compared to the same period of the previous year (USD FOB 743.8 million).
By free trade zones, PFE Rionegro, PFE Palmaseca, PFE Cartagena, and PFE Cencauca (Caloto Industrial Park) were the ones that recorded the largest surplus. On the other hand, PFE Quindío Zona Franca S.A., PFE Gachancipá (ZOFRANDINA) and Conjunto Industrial Parque Sur were those with the largest deficit. Special permanent free zones showed a deficit, going from a surplus of USD FOB 439.1 million to a surplus of USD FOB 465.1 million in the same period of 2021, while permanent free zones increased their surplus from January to July from USD FOB 304.6 million to 314.8 million in 2021.
Taken from: Analdex
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