Colombia Trade


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.

LatinFocus Consensus Forecast panelists expect that exports will expand 4.8% in 2014 and 7.2% in 2015.

Author: Teresa Kersting, Economist

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Colombia Trade Chart

Colombia Exports August 2014

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

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