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.
Author: Robert Hill, Economist