In October, exports grew 20.5% over the same month last year to reach USD 3.6 billion. The pace was faster than the 15.0% expansion registered in September. Exports were mainly boosted by strong sales of raw materials and coffee. In addition, exports to Venezuela are picking up again, as relations with that country, historically one of Colombia's major trading partners, are beginning to improve. Last year, a diplomatic row between both countries significantly hurt Colombian exporters, with sales contracting 70% year-on-year. As a result of the October reading, the moving three-month sum of exports reached USD 10.0 billion, which is still below the pre-crisis peak of 10.8 billion registered in July 2008. Meanwhile, in September, the latest month for which data are available, imports grew 43.0% year-on-year (August: 41.9% yoy). As a result, the trade deficit in September widened to USD 716 million from USD 336 million in August.
Colombia Trade Balance
Exports rebound in October
December 3, 2010
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Colombia Economic News
October 7, 2016
In what was a narrow and shocking result, Colombians rejected the peace agreement between the government and the FARC at the 2 October referendum.
September 30, 2016
In August, exports grew 7.0% over the same month last year, which sharply contrasted the 27.3% plunge recorded in July.
September 30, 2016
The seven-member board of the Central Bank (BanRep) unanimously decided to keep the reference interest rate unchanged at 7.75% at its 30 September monetary policy meeting.
September 16, 2016
Industrial production unexpectedly shrank 6.2% annually in July, which contrasted the 6.7% increase seen in June.
September 5, 2016
The Colombian economy continues to adjust to low oil prices two years after they first started to collapse.