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.