Colombia: Export growth decelerates considerably in August
September 29, 2017
Exports expanded 1.5% in August in annual terms, a significant moderation from July’s impressive 37.6% year-on-year expansion. According to the National Department of Administrative Statistics (DANE), the slowdown was the result of a contraction in manufacturing exports.
Imports grew 11.8% on a yearly basis in July—the most recent month for which data is available—accelerating from 2.5% in June. The expansion was driven by an increase in imports of manufactured goods, and oil and hydrocarbon imports.
Meanwhile, the trade deficit totaled USD 0.5 billion in July, narrowing from the USD 1.0 billion deficit recorded in the same month last year.
Author: Lindsey Ice, Economist