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.
Author: Nihad Ahmed, Economist