Recent data from Colombia's National Administrative Statistics Office (DANE) indicates a complex situation in the country’s metal export sector for the first five months of the year. While there has been an uptick in the quantity of metals exported, the financial returns from these exports have shown a significant decline.
Specifically, from January to May, Colombia saw its iron and steel exports rise to 108,834 tons, marking a 20.2% increase compared to the same period in the previous year. However, the value of these exports did not keep pace, falling by 20.2% to $319.38 million.
The monthly data for May reinforces this pattern. Iron and steel exports amounted to 26,860 tons, up 19.2% from May 2023. Yet, the revenue generated from these exports decreased slightly by 0.1%, totaling $86.23 million.
The ferronickel segment exhibited similar trends. During the January to May period, exports of ferronickel increased by 9.4% to 67,100 tons. Nonetheless, the revenue from these exports decreased substantially by 32.9%, amounting to $223.54 million. In May alone, while ferronickel exports rose by 9.8% to 18,664 tons, the revenue from these exports fell by 14%, concluding at $68.91 million.
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