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Colombia export growth jumps in September

Staff Writer | November 3, 2017
In September, exports in Colombia expanded a robust 19.3% year-on-year, a strong acceleration from August’s meager 1.5% growth.
Colombia export
LatAm   LatinFocus Consensus Forecast
According to the National Department of Administrative Statistics (DANE), the solid performance in September was fueled by growth in oil and hydrocarbon exports.

In August—the most recent month for which data is available—imports contracted 0.6% in annual terms, strongly contrasting the revised 12.2% expansion recorded in July (previously reported: +11.8% year-on-year).

The contraction was the result of a sharp drop in oil and hydrocarbon imports.

Meanwhile, the trade deficit totaled $0.9 billion in August, narrowing from the $1.0 billion shortfall recorded in the same month last year.

Panelists participating in the LatinFocus Consensus Forecast expect that exports will expand 6.3% in 2018, which is unchanged from last month’s estimate and will also grow 6.3% in 2019.