As per Bloomberg Economics, Colombia is on track for cocaine to surpass oil as its primary export.

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The Colombian government has adopted a more permissive stance on drug-related policies, leading to an expansion in drug production.

In 2022, according to Bloomberg Economics, exports were valued at approximately $18.2 billion. Meanwhile, oil exports experienced a 30% decline in the first half of this year. Bloomberg economist Felipe Hernandez predicts that cocaine could potentially become Colombia’s top export by the conclusion of 2023.