Colombia Trade Balance September 2022

Colombia

Colombia: Merchandise export growth rises in September

November 7, 2022

Merchandise exports shot up 36.1% year-on-year in September (August: +32.2% year-on-year). Meanwhile, merchandise imports jumped 11.9% in annual terms in September (August: +36.6% yoy), marking the weakest result since February 2021.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.5 billion shortfall in September (August 2022: USD 2.2 billion deficit; September 2021: USD 2.8 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 17.4 billion deficit in September, compared to the USD 17.7 billion deficit in August.

LatinFocus Consensus Forecast panelists project merchandise exports to expand 35.6% in 2022, and merchandise imports to grow 19.0%, resulting in a USD 9.5 billion trade deficit. In 2023 our panel estimates merchandise exports to contract 0.2% and merchandise imports to contract 0.5%, with a trade deficit of USD 9.3 billion.


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Colombia Exports September 2022

Note: Year-on-year and annual average variation in %.
Source: Colombian National Directorate of Taxes & Customs (DIAN).


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