Colombia Trade May 2019

Colombia

Colombia: Exports slow in May

July 3, 2019

Exports rose 1.2% over the same month of the previous month in May, following the 2.2% year-on-year rise in April. May’s print was driven by a strong upturn in overseas sales of fuels and a mild increase in farming, food and beverages products. These more than offset a marked contraction in the exports of manufacturing goods.

In April—the latest month for which data is available—imports were up 7.1% over the same month of the previous year. This was below the 10.0% year-on-year expansion in March. Imports of fuels and products of extractive industries nearly doubled, while manufacturing imports rose only slightly. Upturns in both countered a fall in the purchases of agricultural produce from abroad.

Meanwhile, the trade deficit widened substantially to USD 460 million in annual terms in April compared to a USD 257 million shortfall in the same month last year. That said, it was smaller than the USD 757 million deficit registered in March.

Panelists participating in the LatinFocus Consensus Forecast project that exports will grow 1.2% in 2019. In 2020, panelists project export growth at 5.9%.


Author:, Economist

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Colombia Trade Chart


Colombia Exports May 2019

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


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