Imports of products from China continue to rise. Analyzing import data shared by the National Administrative Department of Statistics (Dane), it is clear that the inflow of metric tons of merchandise increased by 50% compared to the first six months of the year in 2024.
Exports of Asian products increased from 383,376 tons in June 2024 to 577,950 tons in the first half of this year.
In monetary terms, this means that Colombia is spending US$1.398 billion to purchase products from China, which represents a 24.9% increase compared to the same period.
Why will China's imports to Colombia grow in 2025 while the US imposes tariffs?
The increase in the purchase of Chinese products may be due to several factors, not only price, but also trade tensions with the U.S. over the imposition of tariffs on most products, driving this trend.
Credicorp's chief economist, Daniel Velandia, clarified that there are no specific indicators currently determining the impact of the increase in Chinese products, but countries in the region, such as Peru and Chile, are already seeing impacts on their economies.
"The theory is that as long as trade tensions between the United States and China persist, we will see a growing number of Chinese goods heading to other countries. The Colombian case is unique because we don't have such a strong relationship with China, so the impact could eventually be somewhat more moderate," he explained.
Which sectors are most impacted by the tariff war?
One of the most sensitive sectors would be steel and aluminum, due to the significant impact of tariffs from the United States.
China is trying to incorporate these products into other countries at lower prices, and while this may drive down reference prices, it ultimately affects domestic producers.
This means that while the arrival of Chinese products may be beneficial for consumers, it is not beneficial for the industry. According to David Barros, president of the Colombian Chamber of Steel, Camacero, the entry of Chinese steel would have negative effects on the local industry.
"Steel processing is facing unfair competition from finished products imported from China because wire rod is subject to a 35% tariff, while wire is subject to a 10% tariff with a 25% negative protection. From this perspective, it would be more advantageous to import the final product than to process it in Colombia," said the union leader.
The same thing would happen with the textile industry, according to Velandia, as importing garments from abroad, especially China, is causing disruption to the local industry.
There are no abrupt changes in Colombia's foreign trade. Former Minister of Commerce Luis Carlos Reyes stated that since the tariff policies were announced, there have been no abrupt changes in trade relations with the U.S.
He said that some changes could be felt in the coming months due to the instability predicted by the Trump administration's behavior toward its Colombian partners, and that this could motivate merchants to seek to diversify that network of countries. So far, the impact has not been significant and is nothing irreversible.
Would it have a real impact on inflation?
Although the numbers show that there is much more Chinese merchandise entering the country, in the immediate comparison with the previous ye