Colombia: Exports continue to outperform in July
September 6, 2011
In July, exports expanded 55.0% over the same month last year to reach USD 4.9 billion, which virtually mirrored the already strong 54.0% jump registered in the previous month. The July increase mainly reflected solid growth in oil and coal shipments, which were partially offset by declining exports of nickel. Owing to the strong reading, the moving three-month sum of exports rose from USD 14.1 billion in June to USD 14.3 billion in July, which represented a record high. Meanwhile, in June, the latest month for which data are available, imports grew 45.9% year-on-year (May: +54.9% yoy). As a result, the trade balance swung from a shortfall of USD 227 million in May to a surplus of USD 156 million in June.