Colombia, a historically primarized economy, has essentially relied on raw materials from the agriculture and livestock industry, as well as products from the extractive industry such as oil, gold and coal. Currently, crude oil along with its category represent 40% of the total exports (DANE, 2016) and 74% of the royalties the country collects (DNP, 2016), making its impact in the local economy gigantic. This research paper offers a mathematical analysis of the variables that affect the exports of crude oil in Colombia, results that are compared with several theoretical postulates related to the growth of economies through exports, as well as the existing endogenous and exogenous variables. The methodology for the creation of this document was based in the data collection method regarding the following: national crude oil production, exports and incomes; national exports total incomes; and the international crude oil prices. After contrasting, the results show the highly positive correlation between crude oil exports and its production, plus a demonstration of the concentration and importance of this product‟s exports in Colombia‟s external sales and its effects in the local economy, based on the historical facts that took place between 1994 and 2014.
