Colombia Trade May 2016

Colombia

Colombia: Contraction in exports continues to ease in May

July 1, 2016

In May, exports shrank 20.0% over the same month last year, which was a less severe contraction than April’s 24.8% drop. According to the National Statistical Office (DANE), the result was due to a decrease in the value of exported hydrocarbons, which make up nearly half of the total value of exports.

Imports declined 16.8% in April (the most recent month for which data are available), which was less severe than March’s 22.6% contraction. The trade balance recorded a USD 1.1 billion deficit in April, which was larger than the USD 1.0 billion deficit recorded in the same month last year.

Panelists participating in the LatinFocus Consensus Forecast expect that exports will rise 15.5% in 2016 and expand 8.6% in 2017.


Author:, Economist

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Colombia Exports May 2016 1

Note: Year-on-year and annual average variation in %.
Source: Colombia National Statistical Office (DANE).


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