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Positive trade balance in petroleum not enough

Sunday, February 22nd, 2026

Colombia registered its worst trade deficit in history in 2025, reaching US$16.B FOB, surpassing pandemic-era records. Meanwhile, extractive industry trade balance contributed positively, although declining as well. DANE also published GDP for 4Q25 so we look at that from a sector perspective.

Recent News

Buenaventura port crisis shows improvement?

Colombia’s main Pacific port faces a complex logistics crisis requiring sustained coordination between government and private operators, according to contrasting assessments from port management and government authorities released mid-February 2026.

Thursday, February 19th, 2026
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Colombia lost CoP$2.3T from declining oil production in 2025

Colombia lost CoP$2.3T from declining oil production in 2025

Colombia’s petroleum sector suffered significant production declines in 2025, costing the economy approximately US$660M (CoP$2.3T)—equivalent to nearly 30% of the recently declared economic emergency value—according to data from the Colombian Chamber of Petroleum, Gas and Energy (Campetrol).

Thursday, February 19th, 2026
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Ecopetrol and the DIAN still fighting over VAT for fuel imports

DIAN notified Ecopetrol of Resolution 000571 confirming a CoP$5.3T sanction (including interest and penalties) related to 19% VAT on gasoline imports between 2022-2024, escalating the ongoing legal dispute between Colombia’s tax authority and the state oil company.

Wednesday, February 18th, 2026
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Diesel drives Colombian fuel consumption growth in 2025

Colombia’s liquid fuels market closed 2025 with positive consumption figures driven primarily by diesel demand, though profitability deteriorates for distributors despite sales growth, according to a report presented by Somos Uno—the trade association uniting Comce Colombia and Fendipetróleo Nacional.

Wednesday, February 18th, 2026
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Petro government wants Ecopetrol to lead an energy role in Venezuela’s recovery

Colombia’s potential role in Venezuelan reconstruction—particularly through energy sector initiatives led by Ecopetrol—emerged as a central topic during President Gustavo Petro’s nearly two-hour meeting with President Donald Trump on February 4, 2026, according to Colombian Ambassador Daniel García-Peña.

Wednesday, February 18th, 2026
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Petro government claims 7Mt of CO2e avoided

Petro government claims 7Mt of CO2e avoided

Colombia has avoided nearly 7 million tonnes of CO₂-equivalent emissions during the Petro administration through the entry into operation of clean energy projects including solar, wind, and small hydroelectric facilities, the Mines and Energy Ministry announced on World CO₂ Emissions Reduction Day.

Tuesday, February 17th, 2026
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