Colombia: Exports contract at softer rate in December
February 7, 2016
In December, exports shrank 32.5% over the same month last year, which was an improvement from November’s 37.7% drop and marked the best result in six months. According to the National Statistical Office (DANE), the result came on the back of softer decreases in exports of petroleum and oil derivatives as well as mining products. However, the deteriorations remained significant.
Imports declined 20.8% in November (the most recent month for which data are available), which was slightly better than October’s 22.8% contraction. The trade balance recorded a USD 1.7 billion deficit in November, which was a deterioration from the USD 1.3 billion deficit recorded in the same month of the previous year.
Author: Eric Denis , Economist