Colombia Trade March 2017

Colombia

Colombia: Exports growth accelerates in March

May 3, 2017

In March, exports grew a staggering 37.9% from the same month of the previous year, which followed a 15.8% expansion recorded in February. The strong performances recorded in recent months largely reflect a favorable base effect, as exports had dropped dramatically last year due to low oil prices.

According to the National Statistical Office (DANE), March’s result mainly reflected an increase in the value of hydrocarbon exports—which make up around half of the total value of exports. Agricultural exports also contributed to this month’s print, albeit on a much smaller scale.

Imports grew 5.4% annually in February (the most recent month for which data is available), marking the second increase since February 2015. The trade deficit totaled USD 0.82 billion in February, which was smaller than the USD 1.0 billion gap registered in the same month of last year.

Panelists participating in the LatinFocus Consensus Forecast expect that exports will expand 16.4% in 2017 and decelerate to a 10.2% expansion in 2018.


Author:, Economist

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Colombia Trade Chart


Colombia Exports March 2017

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


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