Cocaine trade generated $16.5 billion for Colombian drug cartels, exceeding the $15 billion from oil exports this year.
Colombia’s cocaine trade revenue reached $16.5 billion in 2024, outpacing the $15 billion earned from oil exports, according to research from a local university. The findings highlight the growing economic influence of illicit drug production in the country.
Oil remains Colombia’s largest legal export revenue source, with coal exports further bolstering total earnings above cocaine proceeds. However, the $1.5 billion gap underscores the scale of the drug trade’s financial impact.
The report did not detail immediate market reactions, but the shift in revenue dynamics could pressure policymakers to address illicit trade’s economic footprint.