Colombia: Exports rebound modestly in November
January 7, 2014
Exports expanded 2.6% over the same month of the previous year in November, which contrasted the 11.0% decline recorded in October. The print overshot the 0.8% rise that markets had expected and represented the first positive reading in three months. According to the National Statistical Office (DANE), the improvement was due to a strong rebound in shipments of fuel and mining goods, as well as of agriculture products.
Imports rose 2.7% in October (the most recent month for which data are available), which followed the 10.0% expansion recorded in September. The trade balance recorded a USD 513 million deficit in October, which contrasted the USD 227 million surplus recorded in the same month of the previous year.
LatinFocus Consensus Forecast panelists expect that exports will expand 9.8% in 2014, before moderating slightly to a 9.5% expansion in 2015.