Bloomberg: Colombian President Gustavo Petro said cocaine has always been his country's top export. “Cocaine has been Colombia's top export product several times. And if not, then the second one. It all depends on the international price of both products: if the price of oil falls, then cocaine is the main export; if the international price of oil rises, then oil, and cocaine is the second. The sad reality of the rentier economy, which ignores the need to develop production, relying only on the extraction of raw materials. We must grow production,” he wrote in X. Bloomberg Economics estimates cocaine is on track to overtake oil as Colombia's top export as drug production continues to rise amid looser government policies. In the first half of 2023, oil exports fell by 30%, while the cocaine trade grew steadily. Revenue from cocaine exports rose to $18.2 billion in 2022, just behind oil's $19.1 billion