Colombia's Cocaine Trade Now Outearns Its Oil Exports

AI Summary

Research from EAFIT University reveals that cocaine trade revenues in Colombia have surpassed oil export revenues in 2024, with illicit earnings at $16.5 billion compared to $15 billion from oil. Despite this, oil and coal exports remain the largest legitimate sources of export revenue for Colombia.

Drug lords in Colombia are making more money from cocaine than the government is making from crude oil sales, a report from a Colombian university has found. At $16.5 billion for 2024, cocaine revenues surpassed oil export revenues, which stood at around $15 billion that year, UPI reported, citing the research from EAFIT University. Oil export revenues, however, remain Colombia’s largest export revenue generator, the research showed. Together with coal exports, oil exceeds the illicit trade in cocaine. Still, cocaine revenues in 2024 were…