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Colombia Trade Balance November 2021

Colombia: Merchandise export growth hits seven month high in November

Merchandise exports expanded 58.0% year-on-year in November, accelerating markedly from October’s 43.5% increase. The print marked the strongest growth in seven months. Looking at the details of the release, November’s upturn was largely due to fuel shipments—the country’s key export—growing at a skyrocketing pace in November.

Merchandise imports increased 41.9% in November, moderating from October’s 51.3% rise. Consequently, the merchandise trade deficit widened to USD 1.6 billion in November from the USD 1.4 billion shortfall recorded in November 2020. Accordingly, the trend deteriorated, with the 12-month trailing merchandise trade balance coming in at a USD 14.9 billion deficit in November (October: USD 14.7 billion shortfall).

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