A statement from the Bogota Environmental Authority said at least 232 tarantulas, 67 cockroaches, nine spider eggs and a scorpion with seven of its young were confiscated at El Dorado airport in the capital.
The bugs were kept in more than 200 plastic containers hidden in a suitcase, the statement said.
Two German citizens have been arrested and will be prosecuted, officials said. They said they were taking the animals to Germany for academic purposes, but did not have the permits to collect and transport them.
The video shows some of the bugs crawling around a box as authorities examine them. A tarantula can be seen climbing on a wooden branch, while another insect crawls up the arm of an official as he inspects it.
This is the second incident in less than three months in which authorities seize wild specimens intended for illegal export from Colombia.
In September, authorities confiscated a shipment of nearly 3,500 shark fins bound for Hong Kong.