Merchandise Trade Balance in Colombia
The merchandise trade balance in Colombia averaged USD -8.0 billion in the decade to 2022. The 2022 reading was USD -12.0 billion. For more trade information, visit our dedicated page.
Colombia Trade Chart
Colombia Trade Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Merchandise Trade Balance (USD bn) | -6.4 | -9.9 | -8.9 | -14.0 | -12.2 |
Merchandise exports slide in October
Merchandise exports dived 14.1% in annual terms in October (September: -13.6% year-on-year). Meanwhile, merchandise imports slid 10.6% on an annual basis in October (September: -23.9% yoy). As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.5 billion shortfall in October (September 2023: USD 0.6 billion deficit; October 2022: USD 2.7 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 13.2 billion deficit in October, compared to the USD 13.4 billion deficit in September.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Colombian trade projections for the next ten years from a panel of 19 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable trade forecast available for Colombian trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Colombian trade projections.
Want to get access to the full dataset of Colombian trade forecasts? Send an email to info@focus-economics.com.
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