Colombia’s export federation Analdex thinks exports this year will
drop 10% compared to 2008, because of the global economic crisis and
its effects on the United States, Venezuela and Ecuador.
Exporters are not only worried about sales in the three main markets, but fear that the revaluation of the peso is making Colombia’s position in the world market less competitive.
The bad relations with neighbor Ecuador also worry the exporters. They fear a possible trade block by the country’s leftist government in retaliation of the ongoing diplomatic crisis.
Analdex director Javier Diaz said to be relieved Venezuela has not seen the serious economic slowdown that was predicted by many economists, but warns that the danger is not over yet.
To improve Colombia’s export sector, Diaz says the country needs to diversify its export market, making it less vulnerable to the economic situation of only a few countries.
Exports from the Andean country fell 17.3 percent in the
first four months of 2009 to $9.94 billion, versus the same period last year, Colombia’s statistics department DANE said earlier this month.