Colombia: Exports contract at sharper rate in January
March 7, 2016
In January, exports shrank 36.6% over the same month last year, which was a deterioration from December’s 32.5% drop. According to the National Statistical Office (DANE), the result came on the back of sharper decreases in exports of petroleum and oil derivatives as well as mining products.
Imports declined 23.9% in December (the most recent month for which data are available), which was lower than November’s 20.8% contraction. The trade balance recorded a USD 1.4 billion deficit in December, which mirrored the deficit recorded in the same month of the previous year.
Author: Eric Denis , Economist