Colombia: Exports accelerate in January
March 25, 2011
In January, exports expanded 29.8% over the same month last year to reach USD 3.8 billion, which represented an improvement over the 20.6% increase in exports registered in December. The January result was bolstered by strong shipments of oil, coal and coffee. The gain in exports was driven by strong demand from the United States (Colombia's most important trading partner), which added 9.6% over the same month the year before. As a result of the January reading, the moving three-month sum of exports reached USD 11.1 billion and has now surpassed the pre-crisis peak of USD 10.8 billion recorded in July 2008. At the same time, imports accelerated 39.8% year-on-year in January to reach USD 3.8 billion. As a result, net exports pushed into positive territory, rebounding from a trade deficit of USD 137 million in December to a trade surplus of USD 13 million in January.