Colombia: Exports plummet at the fastest pace in eight months in August
October 1, 2019
Exports sank 11.6% over the same month of the previous year in August, following the 9.9% year-on-year decline in July. August’s downturn was chiefly driven by a sizeable drop in exports of fuels and products of extractive industries, while exports of manufactured products contracted as well.
In July—the latest month for which data is available—imports rose 5.0% over the same month of the previous year, contrasting the % contraction recorded in June. The upturn reflected a rebound in imports of both agriculture products and manufactured goods
Meanwhile, the trade deficit widened to USD 1,088 million in annual terms in July, compared to a USD 530 million shortfall in the same month last year.
Author: Nicolás J. Aguilar, Economist