Colombia Trade November 2017

Colombia

Colombia: Export growth slows in November

January 3, 2018

Exports grew 6.7% year-on-year in November, a substantial drop from October’s stellar 15.1% rise. A breakdown of the components released by the National Department of Administrative Statistics (DANE) shows that the fuels and products of extractive industries, and the manufacturing sector expanded at a double-digit pace. However, output in the farming, food and beverages sector declined, and other sectors contracted severely by 40%, offsetting the gains made.

In October—the most recent month for which data is available—imports expanded 9.1% in annual terms, contrasting a revised 5.7% drop in September (previously reported: -5.6% year-on-year), due to a surge in the imports of combustibles.

The trade deficit was USD 0.6 billion in October —the most recent month for which data is available—down from a USD 0.7 billion shortfall in the same month of the previous year, but higher than September’s USD 0.3 billion deficit.

Panelists participating in the LatinFocus Consensus Forecast expect that exports will grow 6.8% in 2018, which is unchanged from last month’s forecast. Export growth is seen at 6.7% in 2019.


Author:, Economist

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Colombia Exports November 2017

Note: Year-on-year and annual average variation in %.
Source: Colombia National Statistical Office (DANE).


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