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Colombia Trade Balance October 2021

Colombia: Merchandise export growth slows in October

Merchandise exports expanded 43.5% year-on-year in October, decelerating from September’s 46.1% increase. Looking at the details if the release, October’s moderation was largely due to manufacturing production growing at a slower pace, which couldn’t offset fuel shipments—the country’s key export—growing at a quicker pace in October.

Merchandise imports increased 51.3% in October, moderating from September’s skyrocketing 60.0% rise. Consequently, the merchandise trade deficit widened to USD 1.5 billion in October from the USD 0.9 billion shortfall clocked in October 2020. Accordingly, the trend deteriorated, with the 12-month trailing merchandise trade balance logging a USD 14.7 billion deficit in October (September: USD 14.1 billion shortfall).

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