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Colombia Trade Balance October 2020

Colombia: Exports decline at quicker pace in October

On an annual basis, merchandise exports contracted 21.0% in October, falling at a faster pace than September’s 17.5% drop. October’s result was chiefly driven by a markedly stronger decline in manufacturing exports, as well as a more pronounced contraction in fuels’ shipments, which represent the country’s main export.

Meanwhile, in September, the latest month for which data is available, merchandise imports contracted a softer 17.3% in annual terms, following August’s 27.4% drop. As a result, the merchandise trade deficit narrowed slightly to USD 0.8 billion in September from USD 0.9 billion in September 2019. Lastly, the trend also improved marginally, with the 12-month trailing merchandise trade balance recording a USD 9.9 billion deficit in September, compared to the USD 10.1 billion deficit tallied in August.

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