Colombia: Exports maintain robust growth in November
January 25, 2011
In November, exports grew 19.7% over the same month the year before to reach USD 3.4 billion, which was slightly slower than the 20.5% expansion registered in October. The strong growth in exports was boosted by sales of coffee and oil. The November increase in exports was driven by strong shipments to the United States, which added 32.2% over the same month the previous year. As a result of the November reading, the moving three-month sum of exports reached USD 10.3 billion, which remains below the pre-crisis peak of 10.8 billion registered in July 2008, but is well above the trough of USD 7.5 billion recorded in April 2009. Meanwhile, imports expanded 34.5% year-on-year in November to reach USD 3.8 billion, well below the 22.2% increase recorded in October. As a result, the trade deficit widened to USD 377 million in November from USD 71 million in October.