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Colombia Trade Balance December 2021

Colombia: Merchandise export growth softens, but remains robust, in December

Merchandise exports expanded 44.7% year-on-year in December, softening from November’s 58.0% increase. Looking at the details of the release, December’s moderation was broad-based, with fuel shipments—the country’s key export—manufacturing exports, and agricultural goods exports all rising at slower paces.

Merchandise imports, meanwhile, grew 41.6% in December, easing from November’s 51.1% expansion. Consequently, the merchandise trade deficit widened to a USD 1.2 billion deficit in December from the USD 0.9 billion shortfall recorded in December 2020. Accordingly, the trend deteriorated, with the 12-month trailing merchandise trade balance coming in at a USD 15.5 billion deficit in December (November: USD 15.2 billion shortfall).

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