Exports rose a robust 43.1% in annual terms to USD 5.5 billion in December, which was below the 50.5% expansion recorded in the previous month. Thus, exports increased at a double-digit rate for the 17th consecutive month, mainly driven by stronger shipments of fuels and mineral oils. Meanwhile, imports expanded a milder 13.1% in December (November: +33.1% year-on-year) to USD 4.5 billion. As a result, the trade surplus jumped from USD 94.3 million in November to USD 996.8 million in December, the largest monthly surplus in a decade. For the full year 2011, exports amounted to USD 56.9 billion, which represented a 43.0% increase over the USD 39.8 billion recorded in 2010. According to the government, the figure puts Colombia in third place worldwide in terms of export growth. As a result of the strong growth in exports, the trade balance recorded a USD 2.1 billion surplus, the largest in two decades.
Colombia Trade Balance
Exports continue to surge
February 27, 2012
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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.