Despite the political tensions that have marked the relationship between Colombia and Venezuela, binational trade continues to be a key piece in the economies of both countries. With more than 2,000 kilometers of shared border and several land connections, Colombian exports to Venezuela have remained an economic pillar in recent decades.
The year 2024, which marks the end of more than 15 years without significant records in this trade, has been one of the most successful, with more than US$1 billion in exports, an increase of 47% compared to the previous year.
Among the main exported products are food and beverages (24%), chemical products (22%) and plastics (11%), sectors that have managed to maintain their competitiveness in the Venezuelan market despite the political instability in the region.
The best year for Colombian sales to Venezuela was 2008 with more than US$6 billion in products. During 2020, when Venezuela did not have diplomatic or commercial relations with the country, it was the year with the worst figure with US$220 million.
This rebound in exports is not only a sign of economic recovery, but also a lesson in diversification. According to Clara Inés Pardo Martínez, professor at the Universidad del Rosario, The increase in exports to Venezuela is significant, but it also indicates that Colombia should not depend exclusively on this market.
“Colombia has been increasing its exports to Venezuela in the last year, with a positive trade balance since 2000. The increases are greater compared to other years, which implies returning to a natural partner of the country, which contributes to economic and employment issues,” explained Pardo. However, he stressed that the country must continue working on the diversification of its markets, since, although exports are growing, greater growth was expected since the reopening of the border.
On the other hand, the impact of political fluctuations cannot be ignored. According to Pardo Martínez, these fluctuations generate uncertainty, which affects both negotiations and payments between the two countries.
“Political fluctuations generate an impact on imports and exports. The issue is to define how the negotiations have been managed to generate a minor impact and wait to see how these issues arise. to protect exporters and guarantee that payments are made as agreed,” he commented. Despite these challenges, Gustavo Petro’s administration has managed to negotiate with the Venezuelan regime to avoid interruptions in trade.
The impact of diplomacy has also been key to maintaining the stability of binational trade. For Manuel Camilo González, professor of International Relations at the Javeriana University, Diplomacy plays a crucial role when economic interests are threatened by political decisions.
“Diplomacy is essential when economic interests collide with political principles,” Gonzalez stated. He recalled that during the last years of the Santos and Duque governments, political tensions led to the closure of the border, which seriously affected trade and employment in the border regions.
“This depressed exchange between both countries and seriously affected companies on the border with repercussions on employment,” González pointed out. However, he added that the current administration’s approach seeks a balance, despite questions about the recognition of Nicolás Maduro. “Although it bothers him to recognize Maduro, he knows that he must maintain the relationship with that country, since it depends on the will of both to sustain the efforts to reactivate border trade,” he explained.
Another key factor that keeps the trade relationship active is the geographical proximity between both countries, which reduces transportation costs and facilitates trade. González emphasized that, despite the tensions, geographical proximity continues to be a determining factor.
“Geographic proximity reduces the costs of transporting goods, which has an important consequence: greater consumption due to low prices,” he stated. In fact, even during the most difficult periods, the government of Nicolás Maduro has chosen not to close the border, sending a clear message that the bilateral relationship remains. “Maduro did not decide to close the border, which is an indication that the bilateral relationship is maintained,” González said.
Regarding imports from Venezuela to Colombia, although they are not as representative as Colombian exports, Companies such as Monómeros stand out, which supplies approximately 20% of the fertilizer market in Colombia. This type of products highlights the interdependence between both countries and the need to maintain a fluid economic relationship.
Experts from the Colombian-Venezuelan Chamber have reiterated the importance of not breaking trade relations. The president of the Chamber, Juan Gabriel Pérez Chaustre, said that it can never happen again that borders are closed or that trade relations are interrupted.
The Chamber seeks to improve and strengthen binational integration, doing business that benefits both countries. This emphasis on economic cooperation is key to ensuring the well-being of both, both in terms of employment and social stability.
