Colombia: Deceleration in exports slows in March
May 12, 2014
Exports fell 4.5% over the same month last year in March, which was up from the 8.5% contraction recorded in February. According to the National Statistical Office (DANE), the deterioration was due to a contraction in exports of fuel and products from extractive industries, as well as in manufacturing and other products.
Imports grew 11.3% in February (the most recent month for which data are available), contrasting the 6.6% contraction recorded in January. The trade balance recorded a USD 1.2 billion deficit in February, which was well below the USD 0.5 billion deficit recorded in the same month of last year.
LatinFocus Consensus Forecast panelists expect that exports will expand 6.1% in 2014 and 7.2% in 2015.
Author: Armando Ciccarelli, Head of Data Solutions