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.
Author: Nihad Ahmed, Economist