Colombia Trade April 2019

Colombia

Colombia: Exports return to growth in April

June 4, 2019

Exports rose 2.2% over the same month of the previous year in April, contrasting a 0.8% year-on-year drop in March. April’s print was driven by a surge in the overseas sales of fuels and a mild upturn in manufacturing exports. These more than offset a marked contraction in the exports of farming, food and beverages products.

In March—the latest month for which data is available—imports were up 10.0% over the same month of the previous year. This was higher than the 7.9% year-on-year expansion in February. Imports of fuels and products of extractive industries rose more than a third, while manufacturing imports increased more than 10%. Upturns in both countered a sizeable fall in the purchases of agricultural produce from abroad.

Meanwhile, the trade deficit widened substantially to USD 762 million in annual terms in March compared to a USD 363 million shortfall in the same month last year. It was also larger than the USD 581 million deficit registered in February.

Panelists participating in the LatinFocus Consensus Forecast project that exports will grow 6.9% in 2019. In 2020, panelists project export growth moderating to 6.3%.


Author:, Economist

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Colombia Trade Chart


Colombia Exports April 2019

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


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