Colombia: Exports contract in August and trade deficit widens
October 2, 2014
Exports in August fell 3.0% over the same month last year, which contrasted the notable 8.5% expansion recorded in July. According to the National Statistical Office (DANE), the deterioration was driven by a sharp drop in exports of fuel and products from extractive industries, that more than offset increases in exports of agricultural food products and of manufacturing products.
Imports rose a remarkable 19.0% in July (the most recent month for which data are available), marking an acceleration over June’s 14.2% rise. The trade balance recorded a USD 1.0 billion deficit in July, coming in below the USD 460 million deficit recorded in the same month of last year.