Colombia’s trade deficit narrowed to USD 1 billion in July of 2022 from USD 1.4 billion in the corresponding period of the previous year. Exports soared by 71.7 percent to an all-time high of 5.9 billion, amid strong sales of fuels and products of extractive industries (148.7 percent), in particular, coal, coke & briquettes (333.3 percent). The most important importers of Colombian goods were the United States (27.5 percent of total exports), Panama (7.2 percent), Turkey (7 percent) and the Netherlands (6.1 percent). In the meantime, imports rose by a slower 43.5 percent to USD 6.9 billion, supported by fuels and extraction industries (215.5 percent), manufactured goods (33.5 percent) and agricultural goods (31.5 percent). Imports were the most prevalent from the US (26.5 percent of total), China (23.7 percent) and Brazil (7.9 percent). source: Dane, Colombia

Balance of Trade in Colombia averaged -0.28 USD Billion from 1980 until 2022, reaching an all time high of 0.81 USD Billion in December of 2011 and a record low of -2.39 USD Billion in November of 2021. 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 October of 2022.

Balance of Trade in Colombia is expected to be -2.19 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 -2.25 USD Billion in 2023 and -2.30 USD Billion in 2024, according to our econometric models.

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Colombia Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-08-16 03:00 PM Jun $-0.8B $-2.3B $-2.1B
2022-09-16 03:00 PM Jul $-1B $-0.8B $-2.2B
2022-10-19 03:00 PM Aug $-0.9B $-1.7B


Related Last Previous Unit Reference
Balance of Trade -1.00 -0.82 USD Billion Jul 2022
Imports 6.89 6.37 USD Billion Jul 2022
Exports 5.91 5.55 USD Billion Jul 2022

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
-1.00 -0.82 0.81 -2.39 1980 - 2022 USD Billion Monthly

News Stream
Colombia Trade Deficit Narrows in July
Colombia’s trade deficit narrowed to USD 1 billion in July of 2022 from USD 1.4 billion in the corresponding period of the previous year. Exports soared by 71.7 percent to an all-time high of 5.9 billion, amid strong sales of fuels and products of extractive industries (148.7 percent), in particular, coal, coke & briquettes (333.3 percent). The most important importers of Colombian goods were the United States (27.5 percent of total exports), Panama (7.2 percent), Turkey (7 percent) and the Netherlands (6.1 percent). In the meantime, imports rose by a slower 43.5 percent to USD 6.9 billion, supported by fuels and extraction industries (215.5 percent), manufactured goods (33.5 percent) and agricultural goods (31.5 percent). Imports were the most prevalent from the US (26.5 percent of total), China (23.7 percent) and Brazil (7.9 percent).
2022-09-16
Colombia Posts Smallest Trade Gap in 2 Years
Colombia’s trade deficit shrank to USD 0.8 billion in June of 2022 from USD 1.7 billion in the corresponding month of the previous year. It was the smallest monthly trade shortfall since June 2020, as exports jumped by 74.3 percent year-on-year to an over ten-year high of USD 5.55 billion, largely driven by sales of fuels and products of extractive industries (107.5 percent). Meanwhile, imports advanced at a slower 29.4 percent to USD 6.37 billion, boosted by purchases of fuels and products of extractive industries (74.3 percent), manufacturing (21.8 percent) and agricultural goods (45.8 percent).
2022-08-16
Colombia Posts Largest Trade Gap in Six Months
Colombia’s trade deficit shrank to USD 2.25 billion in May of 2022 from USD 1.28 billion in the corresponding month of the previous year, and the largest trade shortfall since November of 2021. Exports climbed 47.0 percent year-on-year to USD 4.55 billion, as shipments rose significantly for fuels and products of extractive industries (49.0 percent), manufactured products (68.1 percent), and agriculture, food, and beverages (49.6 percent). At the same time, imports advanced at a faster 55.6 percent to USD 6.39 billion, boosted by purchases of manufactured products (41.5 percent); fuels and products of extractive industries (207.3 percent), and agricultural products, food & beverages (47.4 percent).
2022-07-19