Colombia: Export growth rises in July
August 2, 2018
According to the National Department of Administrative Statistics (DANE), the annual pace of expansion in exports rose to 16.2% in July, up from 15.9% in June. Exports of fuels and products of extractive industries surged, while manufacturing exports expanded at a more tepid rate. Conversely, exports of farming, food and beverages contracted again.
In June—the latest month for which data is available—imports climbed 11.9% year-on-year, marking smaller jump compared to the 20.9% upturn seen in May. Imports of farming and fuel products both expanded at a double-digit pace, while the rise in manufacturing imports was less notable.
In annual terms, the trade deficit shrank to USD 719.2 million in June from USD 735.9 million in the same month of the previous year. However, June’s deficit was larger than the USD 638.4 million deficit recorded in May.
Author: Nihad Ahmed, Economist