Colombia: Exports contract at a softer rate in October
December 7, 2015
In October, exports shrank 36.9% over the same month last year, coming in above September’s 43.4% drop and marking a four-month high. According to the National Statistical Office (DANE), despite still recording significant contractions, exports of petroleum and oil derivatives as well as mining product exports fell at softer rates in October.
Imports declined 22.6% in September (the most recent month for which data are available), which was below August’s 9.2% contraction. The trade balance recorded a USD 1.4 billion deficit in September, which was a significant deterioration from the USD 469 million deficit recorded in the same month of the previous year.
Author: Eric Denis , Economist