Colombia: Exports contract slightly in October
December 2, 2016
In October, Colombian exports shrank 3.8% from the same month last year, which followed the 5.6% contraction recorded in September. Colombia’s exports have declined every month since October 2014—except for in August 2016.
According to the National Statistical Office (DANE), October’s result continued to reflect a decrease in the value of exported hydrocarbons—which make up around half of the total value of exports—and a sharp drop in agricultural exports.
Imports declined 12.0% in September (the most recent month for which data are available), which was more severe than August’s 5.3% contraction. The trade deficit totaled USD 1.1 billion in September, which was smaller than the USD 1.4 billion gap registered in the same month last year.
Author: Luis Lopez Vivas, Economist