Colombia Trade November 2019

Colombia

Colombia: Exports tumble at sharpest pace in nearly a year in November

January 3, 2020

Exports fell 13.6% over the same month of 2018 in November, following the 11.9% year-on-year drop in October and marking the sharpest fall in nearly a year. November’s downturn mainly reflected a large drop in exports of fuels and products of extractive industries.

In October—the latest month for which data is available—imports fell 16.1% over the same month of 2018, which contrasted the 3.3% expansion recorded in September. October’s contraction largely reflected falling purchases of manufactured products and of fuels and products of extractive industries.

Meanwhile, the trade deficit narrowed to USD 813 million in October from the USD 1.2 billion shortfall in the same month of 2018.

Panelists participating in the LatinFocus Consensus Forecast project that exports will grow 1.0% in 2020, which is down 2.3 percentage points from last month’s forecast. In 2021, panelists see export growth at 5.8%.


Author:, Economist

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Colombia Exports November 2019

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


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