Colombian Cocaine Nears Oil Revenue: War On Drugs Failure And Rural Inequality Amplify The Equation
Colombia's leading export is transitioning from oil to cocaine. With oil exports falling 30% in H1 2023, a recent report by Bloomberg Economics, predicts that cocaine revenues will surpass oil this year. As the world's top cocaine producer, Colombia reached its highest production level since 1991, producing 1,738 tons worth $193 billion in 2022.
Source: benzinga.com