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.
Author: Javier Colato, Economist