Colombia Trade

Colombia

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.

LatinFocus Consensus Forecast panelists expect that exports will fall 15.5% in 2015 and expand 8.6% in 2016.


Author:, Economist

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Colombia Exports July 2015

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


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