Friday, March 5, 2021

Colombia’s Growing Local Drug Market Now Worth $2 Bn, Govt Says

1427760478737
Changing economic and criminal dynamics in the country had led to internal drug market growth in Colombia

(Today Colombia) Colombia’s internal drug market has grown over the past few decades and is now worth an estimated US$2 billion dollars, a trend driven by changing economic and criminal dynamics in the country.

A new report by Colombia’s Planning Department reveals that drug use within the country has grown as a result of historic shifts in local organized crime. (Download the full presentation in Spanish here – pdf)

- Advertisement -

In 2015, the sale of drugs in Colombia’s internal market was worth a potential US$2 billion (6,011 billion Colombian pesos), equivalent to 0.75 percent of the country’s Gross Domestic Product (GDP), according to official figures. Marijuana represented 73 percent of the total value, while cocaine represented 24 percent and crack cocaine, 3 percent.

 

 

- Advertisement -

In comparison, transnational drug trafficking was worth a potential $6.8 billion (20,500 billion pesos), or 3.8 percent of GDP.

The prevalence of cocaine use has remained the same over the past seven years at 0.7 percent of the population, the report shows. However, between 2008 and 2014, the country went from being the sixth largest to the fourth largest consumer of the drug in South America.

Marijuana users made up 3.3 percent of the population in 2015, up from 2.3 percent in 2008. Colombia also rose to become the fourth largest consumer of the drug in 2014, after being seventh on the list in 2008.

There are a number of factors that are driving up the value of the internal drug market in Colombia, a country that’s more known for its role in the global cocaine trade.

One reason is that the profitability of international drug trafficking has plumetted since the 1980s and 1990s. During that period, the Medellín and Cali Cartels had a monopoly over all rungs of Colombia’s drug trade, and the return on trafficking drugs was as high as 2,790 percent, the report states.

This decreased to 810 percent at the turn of the century following the decimation of the cartels, and then to 260 percent between 2009 and 2015. In contrast, the return on investment for distributing drugs in Colombia at a retail level is significantly higher, at 346 percent. This number surges to 1,407 percent for cocaine.

- Advertisement -

Another underworld shake-up that impacted the local drug market was the dismantling of the paramiltiary umbrella group United Self-Defense Forces of Colombia (Autodefensas Unidas de Colombia – AUC) and the rise of criminal successor groups in the mid- to late-2000s. The paramilitaries controlled crucial drug export structures that were lost when its leaders were extradited to the United States in 2008, resulting in local markets being flooded with illegal drugs. And unlike their paramilitary predecessors, these groups have no ideological resistance to trafficking drugs within Colombia’s borders.

Source: Insightcrime.org

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Rico
"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes TodayColombia.com. Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

Related Articles

Bogotá, Medellín and Cali: the cities with the most violations of measures against covid-19

QCOLOMBIA - Since the mandatory isolation began in Colombia, 1,400,387 finess...

Colombia receives first batch of vaccines

QCOLOMBIA - Colombia advanced the start of the immunization campaign against...

MOST READ

What happens if a Colombian does not attend the scheduled covid-19 vaccination appointment?

QCOLOMBIA - A few days after starting the National Vaccination Plan, Colombians still have some doubts regarding their immunization process and there is fear...

We do not move even half the passengers we would have on a normal day: Transmilenio manager

QCOLOMBIA - The public transport system in Colombia has been one of the worst-hit sectors since the start of the coronavirus pandemic, as quarantines...

Colombia Suffered Its Deepest Slump Since 1905 Last Year

(Bloomberg) -- Colombia’s economy suffered its deepest contraction in more than a century last year, leaving it wracked by soaring debt, mass unemployment and...

Colombia receives first batch of vaccines

QCOLOMBIA - Colombia advanced the start of the immunization campaign against the coronavirus to February 17, three days ahead of schedule, after receiving the...

There’s A Good Chance Your Valentine’s Flowers Come From Colombia

QCOLOMBIA - If you send a bouquet of roses for Valentine's Day, chances are they were grown in Colombia. It remains the No. 1...

Colombia begins 2021 with a reactivation of 55% in flights

QCOLOMBIA - The end of the year travel season arrived with important expectations of recovery for the tourism sector. The improvement in the tourist...

Pope thanks Colombia for efforts to protect migrants

Q REDAQTED (Vatican News) - “I always look with gratitude at the efforts of those who work for migrants,” Pope Francis said on Sunday...

Colombia okays US$38 billion dollar reactivation plan

QCOLOMBIA - Colombia’s economic and social policy council (Conpes) has greenlighted a 135 trillion Colombian peso (US$38 billion) economic reactivation plan, which will be...

Colombian Clever Leaves made first shipment of medical cannabis to the U.S.

QCOLOMBIA - Clever Leaves, a Colombian company authorized to handle pharmaceutical grade cannabinoids, announced that its subsidiary, Herbal Brands, managed to establish a strategic...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!