Colombia: Exports growth moderates in February but remains resilient
April 3, 2017
In February, exports grew a robust 15.8% from the same month of the previous year, which followed an even stronger 39.9% expansion recorded in January. The strong performance in exports is a recent development, after they had declined every month (with only one exception) from October 2014 to January 2016 as a result of the collapse in global oil prices.
According to the National Statistical Office (DANE), February’s result mainly reflected an increase in the value of hydrocarbon exports—which make up around half of the total value of exports.
Imports grew 0.3% annually in January (the most recent month for which data are available), marking the first increase since January 2015. The trade deficit totaled USD 0.75 billion in January, which was considerably smaller than the USD 1.49 billion gap registered in the same month of last year.
Author: Luis Lopez Vivas, Economist