Commodities
Cocaine Is Set to Overtake Oil to Become Colombia’s Main Export
- Bloomberg Economics estimates 2022 exports of $18.2 billion
- Cocaine could overtake oil exports as soon as this year
This article is for subscribers only.
Cocaine is set to become Colombia’s main export, overtaking oil, as production of the narcotic continues to expand as the government take a more lenient policy regarding drugs, according to estimates by Bloomberg Economics.
Oil exports posted a drop of 30% in the first half and the trend of cocaine trade has consistently risen, meaning the latter could be Colombia’s No. 1 export as soon as this year, according to Bloomberg economist Felipe Hernandez.