Colombia Trade Balance November 2020


Colombia: Exports drop at the softest rate in nine months in November

December 31, 2020

Merchandise exports contracted 14.1% year-on-year in November, falling at a softer pace than October’s 21.0% decline and marking the best reading since March. November’s weaker contraction was largely attributed to a milder drop in fuels’ shipments. Meanwhile, manufacturing exports rebounded in November.

Moreover, in October, the latest month for which data is available, merchandise imports fell at a softer pace of 15.0% in annual terms, following September’s 17.3% drop. As a result, the merchandise trade deficit widened slightly to USD 0.9 billion in October from USD 0.8 billion in October 2019. Lastly, the trend also deteriorated marginally, with the 12-month trailing merchandise trade balance recording a USD 10.0 billion deficit in October, compared to the USD 9.9 billion deficit tallied in September.

LatinFocus Consensus Forecast panelists project merchandise exports to expand 11.9% in 2021, totaling USD 36.0 billion. In 2022 our panel estimates merchandise exports to grow 15.2%, totaling USD 41.5 billion.


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Colombia Trade Balance Chart

Colombia Exports November 20 20

Note: Year-on-year and annual average variation in %.
Source: Colombia National Statistical Office (DANE).

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