Colombia: Exports contract at a faster rate in April
June 4, 2015
In April, exports shrank 25.6% over the same month last year, coming in below March’s 22.8% drop. According to the National Statistical Office (DANE), a sizeable drop in exports of petroleum and oil-derivatives, as well as a drop in mining product exports, were mainly behind April’s contraction. To a lesser extent, a decline in exports of manufacturing products and agricultural food products also contributed to the weak result.
Imports declined 5.5% in March (the most recent month for which data are available), which was above February’s 8.3% contraction. The trade balance recorded a USD 1.2 billion deficit in March, which marked a deterioration from the USD 500 million deficit recorded in the same month of the previous year.
Author: Eric Denis , Economist