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.