Colombia: Merchandise exports drop at a steeper pace in August
Merchandise exports sank 44.2% year-on-year in August, following July’s 30.8% dive. The figure marked the sharpest drop since April 2020. Meanwhile, merchandise imports dived 29.2% in annual terms in August (July: -30.6% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.3 billion deficit in August (July 2023: USD 0.4 billion deficit; August 2022: USD 2.3 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 14.0 billion deficit in August, compared to the USD 13.9 billion deficit in July.