Colombia: Exports drop sharply in September
November 8, 2013
Exports contracted 1.2% over the same month last year in September, contrasting the 8.9% rise recorded in August, but undershooting the 5.4% decline that markets had expected. According to National Statistical Office (DANE), the deterioration was due to a decline in the other sectors category, which includes gold exports.
Imports fell 5.0% in August (the most recent month for which data are available) following the 1.6% contraction recorded in July. The trade balance improved from a USD 460 million deficit in July to a USD 3 million surplus in August.
LatinFocus Consensus Forecast panelists estimate that exports will expand 3.2% this year, while the trade surplus will reach USD 2.0 billion. Next year, the panel expects exports to grow 10.7%, while the trade surplus will reach USD 2.6 billion.