The report also found that the number of Americans aged 12 or over who currently use cocaine has dropped by 44 percent since 2006. Overdose deaths and cocaine purity have also dropped in recent years.
According to the White House office, 95 percent of cocaine entering the U.S. comes from Colombia. Major amounts of cocaine from Peru and Bolivia go to Europe, Asia or throughout South America.
In May, Vice President Biden traveled to Colombia to praise the country's leadership on their efforts to make the country safer and recover from violence that plagued the nation for many years.
Biden's visit came a year after the U.S. and Colombia finalized a free trade agreement that was long in the works. At the time, President Obama called it a "landmark" deal and "a win for both our countries."
The agreement should expand U.S. exported goods by more than $1.1 billion, according to estimates from the International Trade Commission.
In April, the Obama administration unveiled a middle-ground approach to combatting drug use that prioritized rehabilitation and deterrence along with enforcement. The policy attempts to view drugs as a public health issue as much as a criminal justice one.