Colombia: Exports accelerate in the last month of 2010
February 25, 2011
In December, exports expanded 20.6% over the same month the previous year to reach USD 3.8 billion (November: USD 3.4 billion), bolstered by strong shipments of coffee and oil. In the full year 2010, exports grew 21.2% to reach USD 39.8 billion, which contrasted the 12.7% contraction observed in 2009. The December increase in exports was driven by strong demand from the United States, which added 31.4% over the same month the year before. As a result of the December reading, the moving three-month sum of exports reached USD 10.8 billion aligning with the pre-crisis peak for the first time since July 2008. At the same time, imports grew 30.1% year-on-year in December to reach USD 4.0 billion. As a result, the trade deficit narrowed to USD 137 million in December from USD 377 million in November.