Colombia’s trade deficit shrank to USD 1.4 billion in March 2023, from USD 2.1 billion in the corresponding month of the previous year. Imports dropped by 17.1% from a year ago to USD 5.86 billion in March 2023, the lowest level for that month since 2021, mainly due to a slump in acquisitions of coke and refined petroleum products (-33.6%). Purchases also fell significantly for manufactured products (-16.6%), notably chemicals and chemical products (-22%) and agricultural products, food & beverages (-7.9%), of which food & live animals (-7.8%). Meanwhile, exports slumped by 10% to USD 4.463 billion, on lower shipments of fuels and goods from extractive industries (-16.3%), agricultural goods (-10.2%), and manufacturing goods (-1.2%). source: Dane, Colombia

Balance of Trade in Colombia averaged -0.30 USD Billion from 1980 until 2023, reaching an all time high of 0.81 USD Billion in December of 2011 and a record low of -2.80 USD Billion in August of 2022. This page provides - Colombia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Colombia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Balance of Trade in Colombia is expected to be -1.34 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Colombia Balance of Trade is projected to trend around -1.60 USD Billion in 2024 and -2.02 USD Billion in 2025, according to our econometric models.

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Colombia Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2023-04-21 03:00 PM Feb $-0.9B $-1.8B $-1.4B
2023-05-16 03:00 PM Mar $-1.4B $-0.9B $ -1.6B
2023-06-21 03:00 PM Apr $-1.4B $-1.5B


Related Last Previous Unit Reference
Balance of Trade -1.40 -0.90 USD Billion Mar 2023
Exports 3.74 4.46 USD Billion Apr 2023
Imports 5.86 5.06 USD Billion Mar 2023

Colombia Balance of Trade
Colombia is a major exporter of oil and coal (59 percent of total exports). Other exports include: chemicals and related products (5.1 percent) and gold (5 percent). Main imports are: machinery and transport equipment (39 percent of total imports); manufactured products (22 percent); chemicals (17 percent) and fuel and mineral lubricants (10 percent) Main trading partners are: United States (36 percent of total exports and 39 percent of imports) and China (6 percent of exports and 16 percent of imports). Others include: Mexico, Spain and Venezuela.
Actual Previous Highest Lowest Dates Unit Frequency
-1.40 -0.90 0.81 -2.80 1980 - 2023 USD Billion Monthly

News Stream
Colombia Trade Gap Narrows in March
Colombia’s trade deficit shrank to USD 1.4 billion in March 2023, from USD 2.1 billion in the corresponding month of the previous year. Imports dropped by 17.1% from a year ago to USD 5.86 billion in March 2023, the lowest level for that month since 2021, mainly due to a slump in acquisitions of coke and refined petroleum products (-33.6%). Purchases also fell significantly for manufactured products (-16.6%), notably chemicals and chemical products (-22%) and agricultural products, food & beverages (-7.9%), of which food & live animals (-7.8%). Meanwhile, exports slumped by 10% to USD 4.463 billion, on lower shipments of fuels and goods from extractive industries (-16.3%), agricultural goods (-10.2%), and manufacturing goods (-1.2%).
2023-05-16
Colombia Posts Smallest Trade Gap in 8 Months
Colombia’s trade deficit narrowed to USD 0.9 billion in February 2023, the smallest in eight months, from USD 1.6 billion in the corresponding month of the previous year. Imports slipped by 13.2% on an annual basis to an over 1-1/2-year low of USD 5.06 billion in February 2023, mainly due to lower acquisitions of manufactured products (-12.8%), of which chemicals and related products (-20.2%). Meanwhile, exports fell by 0.2% to USD 4.2 billion, as shipments declined for agricultural goods (-4.9%) and manufacturing goods (-1.9%).
2023-04-21
Colombia Trade Gap Narrows in January
Colombia’s trade deficit shrank to USD 1.8 billion in January 2023 from USD 2.2 billion in the corresponding month of the previous year. Imports slumped by 8.6% over a year to a near 1-1/2-year low of USD 5.53 billion in January, the third consecutive decline, dragged down by lower purchases of manufactured products (-18.1%). The most important import partners were the US (29.5% of total acquisitions), China (21.3%) and Brazil (9.3%). Meanwhile, exports fell at a slower 2.8% to USD 3.7 billion, as shipments declined for agricultural goods (-9.9%) and fuels & extractive industries (-4.5%). Top export partners were the US (22.9% of total shipments), Panama (9.9%) and China (7.2%).
2023-03-17