Colombia: Export growth jumps in September
November 1, 2017
In September, exports expanded a robust 19.3% year-on-year, a strong acceleration from August’s meager 1.5% growth. According to the National Department of Administrative Statistics (DANE), the solid performance in September was fueled by growth in oil and hydrocarbon exports.
In August—the most recent month for which data is available—imports contracted 0.6% in annual terms, strongly contrasting the revised 12.2% expansion recorded in July (previously reported: +11.8% year-on-year). The contraction was the result of a sharp drop in oil and hydrocarbon imports.
Meanwhile, the trade deficit totaled USD 0.9 billion in August, narrowing from the USD 1.0 billion shortfall recorded in the same month last year.
Author: Lindsey Ice, Economist