Colombia: Exports continue to boom in April
June 14, 2011
In April, exports expanded 34.6% over the same month last year to reach USD 4.7 billion, which was below the stellar 46.5% increase registered in the previous month. The April result mainly reflected solid growth in oil shipments (+57.2% year-on-year), along with resilient exports of coal as well as coffee. The gain in exports was mainly driven by increasing demand from Europe as well as neighbouring Peru and Chile. As a result of the April reading, the moving three-month sum of exports jumped to USD 13.5 billion, diverging further from the pre-crisis peak of USD 10.8 billion registered in July 2008. Meanwhile, imports grew 32.2% year-on-year in April to reach USD 4.2 billion. As a result, the trade surplus widened from USD 255 million in March to USD 491 million in April.