Colombia Trade September 2019

Colombia

Colombia: Exports plummet at the fastest pace in nine months in September

November 1, 2019

Exports sank 12.3% over the same month of the previous year in September, following the 11.6% year-on-year decline in August and marking the sharpest fall since December 2018. August’s downturn was chiefly driven by a sizeable drop in exports of fuels and products of extractive industries.

In August—the latest month for which data is available—imports rose 7.3% over the same month of the previous year, up from the 5.0% expansion recorded July. The upturn reflected a jump in imports of fuel and products of extractive industries, as well as higher purchases of agriculture products.

Meanwhile, the trade deficit widened to USD 1,427 million in annual terms in August, compared to a USD 692 million shortfall in the same month last year.

Panelists participating in the LatinFocus Consensus Forecast project that exports will grow 3.3% in 2020, which is down 1.8 percentage points from last month’s forecast. In 2021, panelists project export growth at 5.3%.


Author:, Economist

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Colombia Exports September 2019

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


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