Colombia Trade

Colombia

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.

LatinFocus Consensus Forecast panelists expect that exports will expand 0.2% in 2014 and 5.8% in 2015.


Author: Teresa Kersting, Economist

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Colombia Trade Chart


Colombia Exports October 2014

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


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