Colombia Posts Trade Surplus in May Due to Falling Imports

In May of 2013, Colombian trade balance turned into a surplus of 90 million USD, up from 220 million USD deficit in April and 140 million USD deficit in the same month last year. Exports shrank for the seventh month in a row by 2.4 percent year-on-year, while imports dropped by 6.6 percent.

In May of 2013, exports declined to 5.27 billion USD, from 5.4 billion USD in the same month of the previous year. Shipments of coal, coke and briquettes contracted 13.8 percent yoy, while exports of gold shrank by 29.4 percent. In contrast, exports of manufactured goods grew 6.9 percent, mainly due to higher shipments of machinery and transport equipment (up by 87.2 percent yoy).

The United States, accounting for 31.3 percent share of total exports, emerged as the country’s top destination of exports, followed by Panama (9.6 percent), China (8.1 percent) and Spain (5.4 percent). 

In May of 2013, imports contracted by 6.6 percent yoy to 5.18 billion USD, from 5.55 billion USD a year earlier, mainly due to a fall in manufactured goods (- 5.3 percent yoy). Imports of fuel and mining products declined by 10.7 percent yoy, while purchases of food, beverages and agricultural products shrank by 10.2 percent. 

Imports from the United States increased 6.5 percent in May while those from Argentina decreased 1.9 percent yoy. 

Colombia Posts Trade Surplus in May Due to Falling Imports

Joana Taborda |
7/18/2013 11:49:26 AM