Colombia: Trade deficit narrows in October
December 15, 2011
Exports continued to moderate and grew 32.6% to USD 4.7 billion in October, which was below the 36.2% expansion recorded in the previous month. Exports, though, maintained the double-digit pace of growth for the 15th consecutive month on the back of higher shipments of commodities, such as petroleum, which jumped 65.5% in October. Meanwhile, imports expanded 33.6% in October (September: +28.9% year-on-year) to USD 4.8 billion due to resilient domestic demand, in particular for capital goods and construction materials, which jumped 53.5% in October. As a result, the trade deficit narrowed from USD 585 million in September to USD 128 million in October, which represents the second consecutive shortfall so far in 2011.