Colombia Trade Deficit Widens in February on Rising Imports

Colombia’s trade balance turned into a USD 0.73 billion deficit in February of 2014, following a USD 0.06 billion gap in the previous month and a USD 0.17 billion surplus in the same month of the previous year.

Exports shrank 8.5 percent on the year to USD 4.27 billion. Oil shipments fell 9.5 percent, gold sales dropped sharply by 48.5 percent and exports of road vehicles decreased 67.4 percent. In contrast, sales of bananas, coffee and flowers rose 90.1 percent, 20.1 percent and 31.7 percent, respectively.

Shipments to the US, Germany and Chile fell 13.2 percent, while sales to China rose 3.6 percent. 

In February, Colombia exported 20.8 million oil barrels per day, 3.3 percent less than in February of 2013.

Imports surged by an annual 11.1 percent in February, after falling by 6.7 percent in January, boosted by higher fuel purchases (+82.2 percent yoy).   

Joana Taborda |
4/29/2014 2:19:10 PM