Colombia: Export growth soars in April
June 1, 2018
According to the National Department of Administrative Statistics (DANE), the annual pace of expansion in exports rocketed to 38.5% in April, up from a meagre 1.4% in March. All three main product groups recorded robust growth, rising at a double-digit rate. Exports of farming, food and beverages rebounded, while exports of fuels and products of extractive industries, and exports of manufacturing output accelerated markedly.
In March—the most recent month for which data is available—imports contracted 5.3% year-on-year, which contrasted a 0.1% upturn in February. All three main import groups, covering farming, fuels and manufactured goods, registered a decline.
In annual terms, the trade deficit shrunk to USD 384.0 million in March from USD 638.8 million from the same month of the previous year. March’s deficit was smaller than the USD 494.2 million deficit recorded in February.
Author: Nihad Ahmed, Economist