Colombia Trade August 2019

Colombia

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.

Panelists participating in the LatinFocus Consensus Forecast project that exports will grow 0.6% in 2019. In 2020, panelists project export growth at 5.6%, which is unchanged from last month’s forecast.


Author:, Economist

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Colombia Trade Chart


Colombia Exports August 2019

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


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