Colombia: Exports contract at a softer rate in June
August 6, 2015
In June, exports shrank 31.5% over the same month last year, coming in above May’s 38.9% 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 June’s contraction.
Imports declined 17.7% in May (the most recent month for which data are available), which was above April’s 18.4% contraction. The trade balance recorded a USD 871 million deficit in May, which contrasted the USD 357 million surplus recorded in the same month of the previous year.
Author: Eric Denis , Economist