Colombia: Exports shrink on falling fuel exports in October
December 3, 2014
Exports swung from September’s 4.9% annual expansion to a 12.6% contraction in October, marking the largest drop since April of this year. According to the National Statistical Office (DANE), a steep drop in the exports of fuels was behind September’s deterioration. To a lesser extent, a decline in exports of manufacturing products also contributed to the weak result. Agricultural food products was the only category that grew in October.
Imports rose 12.5% in September (the most recent month for which data are available), contrasting August’s 1.5% decline. The trade balance recorded a USD 703 million deficit in September, coming in below the USD 298 million deficit recorded in the same month of last year.