Colombia: Exports rebound in May expanding at the fastest pace in five months
July 11, 2014
Exports rose 2.9% over the same month last year in May, which contrasted the 13.1% contraction recorded in April and marked the fastest pace of expansion since December last year. According to the National Statistical Office (DANE), the expansion was due to an acceleration in exports of fuel and products from extractive industries, as well as in agricultural food products, which more than compensated for the decline in exports of manufacturing products.
Imports grew 5.6% in April (the most recent month for which data are available), coming in below the 9.4% rise recorded in March. The trade balance recorded a USD 1.2 billion deficit in April, which was well below the USD 504 million deficit recorded in the same month of last year.