Colombia: Economic activity registers timid expansion in April
June 6, 2013
In April, exports fell 1.2% over the same month last year, which represents a notable improvement over the 19.2% decline seen in March (previously reported: -20.0% year-on-year). The improvement was broad-based as almost all categories recorded better readings. As a result of the monthly drop, in the 12 months up to April exports contracted 2.0% over the same period last year (March: -1.6% yoy).
Meanwhile, imports decreased 10.3% in March - the latest month for which data are available - which followed the 2.1% decline recorded in February. Consequently, in the 12 months up to March, imports increased 5.5% in annual terms, which represents a deceleration over the 7.2% rise witnessed in February. As a result, the trade balance reached a USD 130 million surplus in March, which prompted the 12-month moving sum of the trade balance to shift to a USD 0.4 billion deficit from a USD 0.2 billion surplus observed in February.
LatinFocus Consensus Forecast panellists estimate exports will expand 7.9% this year, while the trade surplus will reach USD 2.3 billion. Next year, the panel expects exports to grow 11.5%, while the trade surplus will reach USD 3.4 billion.