Colombia: Exports observe a deeper contraction in March
May 3, 2016
In March, exports shrank 33.4% over the same month last year, which was a more severe contraction than February’s 26.7% drop. According to the National Statistical Office (DANE), the result came on the back of sharper decreases in exports of petroleum and petroleum-related products.
Imports declined 24.6% in February (the most recent month for which data are available), which was less severe than January’s 28.1% contraction. The trade balance recorded a USD 1.0 billion deficit in February, which was smaller than the USD 1.2 billion deficit recorded in the same month of the previous year.
Author: Robert Hill, Economist