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