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Colombia Trade Balance September 2020

Colombia: Exports drop at softest pace in seven months in September

On an annual basis, merchandise exports contracted 17.5% in September, less severely than August’s 21.3% drop and recording the smallest decline in seven months in line with the gradual recovery of foreign demand. September’s reading largely reflected plunging fuel and extractive industry shipments more than offsetting rising exports for agricultural products, food and beverages.

Meanwhile, in August, the latest month for which data is available, merchandise imports contracted a sharper 27.4% in annual terms, following July’s 20.9% drop. As a result, the merchandise trade deficit narrowed to USD 0.8 billion in August from USD 1.4 billion in August 2019. Lastly, the trend improved marginally, with the 12-month trailing merchandise trade balance recording a USD 10.1 billion deficit in August, compared to the USD 10.7 billion deficit tallied in July.

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