Colombia: Exports accelerate in June
July 26, 2011
In June, exports expanded 54.0% over the same month last year to reach USD 4.7 billion, which overshot the 31.9% increase registered in the previous month. The June increase mainly reflected solid growth in oil and coffee shipments, which were partially offset by declining exports of industrial goods. Despite the strong reading, the moving three-month sum of exports dropped slightly from USD 14.3 billion in May to USD 14.1 billion in June, which nevertheless was well above the pre-crisis peak of USD 10.8 billion registered in July 2008. Meanwhile, in May, the latest month for which data are available, imports grew 54.9% year-on-year (April: +32.2% yoy). As a result, the trade balance swung from a surplus of USD 491 million in April to a shortfall of USD 227 million in May, which represented the first trade deficit so far this year.