Colombia: Exports continue to decline
April 1, 2014
Exports fell 8.5% over the same month last year in February, following the 1.5% contraction recorded in January. According to the National Statistical Office (DANE), the deterioration was due to a contraction in exports of fuel and products from extractive industries, as well as in manufacturing products. Imports contracted 6.6% in January (the most recent month for which data are available), contrasting the 8.6% expansion recorded in December. The trade balance recorded a USD 69 million deficit in January, which was well above the USD 336 million deficit recorded in the same month of last year. LatinFocus Consensus Forecast panelists expect that exports will expand 8.5% in 2014, before moderating to a 7.3% expansion in 2015.
Author: Armando Ciccarelli, Head of Data Solutions