Colombia: Exports contract in July
September 6, 2013
Exports contracted 6.6% over the same month last year in July, contrasting the 5.6% rise recorded in June and undershooting market expectations of nil growth. The deterioration was due in part to a drop in shipments of agriculture, food and beverage, as well as in fuel and mining goods.
Imports fell 15.5% in June (the most recent month for which data are available) following the 6.6% contraction recorded in May. The trade balance reached a USD 509 million surplus in June, which contrasted the USD 537 million deficit observed in the same month last year.
LatinFocus Consensus Forecast panelists estimate exports will expand 4.2% this year, while the trade surplus will reach USD 1.7 billion. Next year, the panel expects exports to grow 10.9%, while the trade surplus will reach USD 2.6 billion.
Author: Carl Kelly, Economist