Colombia: Exports plunge to record low in April amid global shutdown
May 29, 2020
Exports plummeted 52.3% over the same month last year in April, the worst decline on record as the coronavirus pandemic halted the domestic and global economy (March: 28.5% year-on-year). Export sales were down across all major subcomponents, with sales of fuels and minerals nosediving around 70% annually.
In March—the latest month for which data is available—imports fell 16.9% over the same month of 2019, which contrasted February’s 0.2% rise.
Accordingly, the trade deficit widened to USD 1.0 billion in March from the USD 0.8 billion shortfall in the same month of 2019