Colombia: Export growth moderates in August
October 5, 2018
According to the National Department of Administrative Statistics (DANE), the annual pace of expansion in exports moderated to 13.1% in August from 16.2% in July. A double-digit expansion in exports of fuels and products of extractive industries underpinned the rise. On the other hand, exports of farming, food and beverages, and overseas sales of manufacturing output contracted.
In July—the latest month for which data is available—imports soared 15.9% year-on-year, making a bigger jump than the 11.9% increase observed in June. Imports of farming products and manufacturing output expanded at a double-digit rate, while exports of fuels recorded a more modest upturn.
In annual terms, the trade deficit widened to USD 557.7 million in July from USD 482.1 million in the same month of the previous year. However, July’s deficit was smaller than the USD 714.7 million recorded in June.
Author: Nihad Ahmed, Economist