Colombia Posts $0.7B Trade Deficit

In the first month of 2014, Colombian trade balance turned into a USD 0.7 billion gap, down from a USD 0.34 billion surplus in the previous month. Compared with the same month last year, the trade gap narrowed 79 percent, as imports shrank at a faster pace than exports.

Exports amounted to 4.78 billion in January, falling 1.44 percent on the year and 9.3 percent over the previous month. While sales of fuels and mining products surged 7 percent year-on-year, gold sales fell sharply by 60 percent. Manufacturing shipments contracted 15.1 percent due to chemical products, machinery and transport equipment. 

Shipments to China, the Netherlands and the US fell the most on the year (-9.5 percent), but sales to India increased 9.3 percent. 

Imports fell 6.7 percent over a year earlier to USD 4.84 billion, hurt by a 6.3 percent drop in manufacturing purchases and an 18.8 percent decrease in food and drinks. Compared with the previous month, imports decreased 2 percent. 

Colombia Posts $0.7B Trade Deficit

Joana Taborda |
3/13/2014 5:44:52 PM