Colombia Trade

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Colombia: Exports contract again in February

March 7, 2015

In February, exports shrank a notable 26.8% over the same month last year, coming in above January’s significant 40.2% drop that had marked the steepest decline on record. According to the National Statistical Office (DANE), a sizeable drop in the exports of petroleum and oil-derivatives was mainly behind February’s contraction. To a lesser extent, a decline in exports of manufacturing products also contributed to the weak result. Agricultural food products was the only category that grew in February.

Imports rose 0.8% in January (the most recent month for which data are available), coming in below December’s 11.2% expansion. The trade balance recorded a USD 2.0 billion deficit in January, which was below the USD 35 million deficit recorded in the same month of the previous year.

LatinFocus Consensus Forecast panelists expect that exports will expand 7.5% in 2015 and 8.6% in 2016.


Author: Teresa Kersting, Economist

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Colombia Exports February 2015

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


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