Colombia: Exports contract at a steeper rate in July
September 4, 2015
In July, exports shrank 40.5% over the same month last year, coming in below June’s 31.5% drop and marking a multi-year low. 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 July’s contraction.
Imports declined 14.3% in June (the most recent month for which data are available), which was above May’s 17.7% contraction. The trade balance recorded a USD 814 million deficit in June, which was a significant deterioration from the USD 9 million deficit recorded in the same month of the previous year.
Author: Eric Denis , Economist