Colombia: Merchandise export growth robust and stable in January
Merchandise exports expanded 44.8% year-on-year in January, accelerating marginally from December’s 44.7% increase. Looking at the details of the release, January’s result was due to manufacturing exports picking up pace and being almost offset by softer growth of fuel shipments—the country’s key export.
Merchandise imports, meanwhile, grew 45.9% in January, picking up slightly from December’s 44.5% expansion. Consequently, the merchandise trade deficit widened to USD 1.5 billion in January from the USD 1.0 billion shortfall recorded in January 2021. Accordingly, the trend deteriorated, with the 12-month trailing merchandise trade balance coming in at a USD 15.9 billion deficit in January (December 2021: USD 15.4 billion shortfall).