Colombian Trade Deficit Widens in July on Lower Gold Sales

In July of 2013, Colombia’s trade balance turned into a 0.47 billion deficit, from a 0.22 billion USD deficit last year. While imports slightly declined, gold exports shrank by 6.6 percent year-on-year due to lower sales of gold, coal and coke.

Exports dropped to 4.65 billion USD, from 4.98 billion USD in July of 2012. Sales of gold contracted 46.7 percent and shipments of mining products shrank by 3.3 percent, due to the lower sales of coal, coke and briquettes. Exports of agricultural products, food and beverages went down by 11.2 percent, while manufacturing shipments declined 2.1 percent. In contrast, oil exports increased by 5.8 percent, year-on year.

Imports fell by 1.6 percent in July of 2013 to 5.11 billion USD, from 5.2 billion USD a year ago. While imports of manufactured products decreased 5 percent, year-on-year, mainly due to transport equipment, imports of agricultural products, food and beverages went up by 26 percent. 

Krisztina Györffy |
9/24/2013 12:26:15 PM