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Colombia Trade Balance February 2022

Colombia: Merchandise export growth eases marginally in February

Merchandise exports expanded 43.0% year-on-year in February, moderating marginally from January’s 44.8% increase. Looking at the details of the release, February’s slowdown was due to softer growth of fuel shipments—the country’s key export—which more than offset more robust export growth of agricultural and manufacturing goods.

Merchandise imports, meanwhile, grew 44.5% in February, easing from January’s 52.5% expansion. Consequently, the merchandise trade deficit widened to USD 1.1 billion in February from the USD 0.7 billion shortfall recorded in February 2021. Accordingly, the trend deteriorated, with the 12-month trailing merchandise trade balance coming in at a USD 16.3 billion deficit in February (January: USD 16.0 billion shortfall).

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