Colombia Trade

Colombia

Colombia: Exports contract at steepest rate on record in August

October 6, 2015

In August, exports shrank 41.6% over the same month last year, coming in below July’s 40.5% drop and marking a new 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 August’s contraction.

Imports declined 18.3% in July (the most recent month for which data are available), which was below June’s 14.3% contraction. The trade balance recorded a USD 1.8 billion deficit in July, which was a significant deterioration from the USD 779 million deficit recorded in the same month of the previous year.

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


Author:, Economist

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Colombia Exports August 2015

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


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