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Colombia Trade July 2023

Colombia: Merchandise exports contract in July

Merchandise exports sank 54.1% in annual terms in July, contrasting June’s 5.3% increase. July’s figure marked the largest contraction since November 2014. Meanwhile, merchandise imports plunged 30.6% over the same month last year in July (June: -20.3% yoy), marking the weakest reading since May 2020.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.7 billion deficit in July (June 2023: USD 0.7 billion deficit; July 2022: USD 0.5 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 15.3 billion deficit in July, compared to the USD 14.0 billion deficit in June.

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