Colombia: Merchandise export growth eases in July
August 30, 2021
Merchandise exports grew 27.4% year-on-year in July, slowing from June’s 33.1% expansion. Looking at the details of the release, July’s milder increase was largely due to fuel shipments—the country’s key export—growing at a more moderate pace compared to June.
Merchandise imports increased 28.3% in July, moderating markedly from June’s record-high expansion of 69.2%. Consequently, the merchandise trade deficit widened to USD 1.2 billion in July from the USD 0.9 billion one clocked in July 2020. Accordingly, the trend deteriorated, with the 12-month trailing merchandise trade balance logging a USD 12.9 billion deficit in July from the USD 12.6 billion deficit recorded in June.
Author: Marta Casanovas , Junior Economist