Colombia Trade Balance July 2022

Colombia

Colombia: Merchandise export growth falls in July

September 7, 2022

Merchandise exports expanded 17.7% year-on-year in July, decelerating from June’s 74.3% increase.

Merchandise imports, meanwhile, grew 34.0% in July, compared to June’s 27.7% expansion.

The merchandise trade deficit widened to USD 1.9 billion in July from the USD 0.3 billion shortfall recorded in June. As a result, the trend worsened, with the 12-month trailing merchandise trade balance coming in at a USD 17.2 billion deficit in July (June: USD 16.3 billion shortfall).

LatinFocus Consensus Forecast panelists project merchandise exports to expand 28.5% in 2022, and merchandise imports to grow 14.2%, resulting in a USD 9.9 billion trade deficit. In 2023 our panel estimates merchandise exports and imports to grow 0.9% and 1.4% respectively, with a trade deficit of USD 10.3 billion.


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