Colombia’s trade deficit widened to USD 2 billion in August of 2021, the largest gap since at least 1980, from USD 0.99 billion in the corresponding month of the previous year. Imports surged by 50 percent yoy to a near 7-year high of USD 5.3 billion, boosted by purchases of manufactured goods (45.1 percent to USD 4.1 billion), followed by agriculture and food (45.2 percent to USD 0.8 billion) and fuels and mining products (130 percent to USD 0.5 billion). At the same time, exports rose at a slower 28.4 percent to USD 3.3 billion, driven by fuels and mining products (26.6 percent to 1.4 billion), manufactured goods (50.7 percent to USD 0.9 billion), and agriculture and food (35.7 percent to USD 0.8 billion). The largest import partners were China (23.3 percent of total purchases), the US (19.2 percent), and Mexico (6.5 percent), while main export partners were the US (27.1 percent of total sales), Turkey (5.9 percent), and Ecuador (4.8 percent). source: Dane, Colombia
Balance of Trade in Colombia averaged -0.25 USD Billion from 1980 until 2021, reaching an all time high of 0.81 USD Billion in December of 2011 and a record low of -2.03 USD Billion in August 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 2021.
Balance of Trade in Colombia is expected to be 0.20 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 -1.20 USD Billion in 2022 and -0.90 USD Billion in 2023, according to our econometric models.