Colombian Trade Balance Returns to Surplus

In December of 2013, Colombia’s trade balance turned into a USD 340 million surplus, up from a revised USD 100 million deficit in the previous month. A year earlier, the country recorded a USD 410 million surplus.

In the last month of 2013, exports increased 6.5 percent yoy to USD 5.27 billion. Sales of mining products and fuels rose 9.8 percent on the year and shipments of agricultural products increased 22.2 percent, especially sugar, coffee and bananas. The country exported 25.5 million crude oil barrels, higher than 23.1 million barrels in the same month a year earlier. In contrast, gold sales fell 45.1 percent.

Imports rose 8.8 percent on the year to USD 4.94 billion, boosted by higher purchases of transport equipment and diesel. 

For full 2013, exports fell 2.2 percent over 2012, mainly due to lower gold sales. The United States were Colombia’s top export partner, accounting for 31.4 percent of total sales, followed by China (8.7 percent), Panama (5.7 percent), India (5.1 percent), Spain (4.9 percent) and the Netherlands (3.9 percent). 

In the same period, imports rose slightly by 0.5 percent. 30 percent of total purchases came from the US, 19 percent from China and 10.1 percent from Mexico.  

Colombian Trade Balance Returns to Surplus

Joana Taborda |
2/19/2014 4:02:12 PM