Colombia: Exports rebound in June
August 8, 2013
Exports expanded 5.6% over the same month last year in June, contrasting the 2.5% decline seen in May and overshooting market expectations of a 5.2% rise. The improvement was mainly due to a strong rebound in shipments of agriculture, food and beverage, as well as in fuel and mining goods. In the 12 months up to June, exports contracted 2.2% over the same period last year (May: -2.9% year-on-year).
Imports fell 6.6% in May (the latest month for which data are available) contrasting the notable 16.5% expansion recorded in April.
The trade balance reached a USD 86 million surplus in May, prompting the 12-month moving sum of the trade deficit to narrow from USD 1.3 billion in April to USD 1.1 billion in May.
LatinFocus Consensus Forecast panellists estimate exports will expand 4.2% this year, while the trade surplus will reach USD 1.7 billion. Next year, the panel expects exports to grow 10.9%, while the trade surplus will reach USD 2.6 billion.