Colombia: Exports contract the most in over three years
January 11, 2013
In November, exports declined 8.2% in annual terms, which contrasted the 5.8% increase recorded in the previous month and marks the sharpest contraction since September 2009. The monthly drop mainly reflects lower shipments of fuel and mining products. As a result of the monthly reading, in the 12 months up to November, exports grew 8.5% over the same period the previous year (October: +12.8% year-on-year).
Meanwhile, imports expanded 7.8% in October - the latest month for which data are available - which contrasted the 8.8% drop recorded in September. In the 12 months up to October, imports increased 10.7% in annual terms (September: +12.6% yoy). As a result, the trade balance reached a USD 233 million deficit in October, which prompted the 12-month moving sum of the trade balance to fall to a USD 1.9 billion surplus, slightly below the USD 2.0 billion surplus observed in September.