Sourced fact
The News
According to the Anadolu Agency, cocaine revenues have surpassed oil revenues in Colombia, with drug proceeds reaching $16.5 billion in 2024.
Analysis & context
Analysis & Context
From an analytical perspective, this phenomenon reflects the deteriorating security and economic situation in Colombia over the past decades. A tenfold increase in cocaine production over a decade carries severe implications for social and political stability in the country. In a broader context, this issue highlights the ongoing conflict between governments and criminal networks in South America, where each side seeks to exploit the region's natural and human resources.
Illicit drug revenues reached $16.5B in 2024, driving the illegal cocaine economy to 4.4% of GDP as production exploded tenfold over a decade.
