Colombia's trade deficit narrowed to USD 1.0 billion in August 2020 from USD 1.65 billion in the same month of the previous year. Imports slumped 27.3 percent over a year earlier to USD 3.57 billion, due to lower purchases of manufactured products (-22.2 percent), of which machinery & transport equipment (-21.5 percent); fuels & extractive industry products (-67.1 percent), namely petroleum products & related (-73.7 percent); and agricultural products, food & beverages (-19.1 percent), in particular food products & live animals (-17.3 percent). Exports dropped at a softer 21.3 percent to USD 2.57 billion, as sales declined for fuels & mining products (-35.8 percent), mostly oil & oil products (-38.8 percent); manufacturing goods (-17.2 percent), of which manufactured articles, classified mainly according to material (-29.7 percent); and agricultural goods, food & beverages (-7.1 percent), mainly flowers (-27.4 percent).

Balance of Trade in Colombia averaged -0.22 USD Billion from 1980 until 2020, reaching an all time high of 0.81 USD Billion in December of 2011 and a record low of -1.97 USD Billion in January of 2015. 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 2020. source: Dane, Colombia

Balance of Trade in Colombia is expected to be 1.20 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Colombia to stand at -0.40 in 12 months time. In the long-term, the Colombia Balance of Trade is projected to trend around 0.20 USD Billion in 2021 and -0.90 USD Billion in 2022, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Colombia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1.00 -1.10 0.81 -1.97 1980 - 2020 USD Billion Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-07-17 03:00 PM May $-0.6B $-1.3B $-1.5B
2020-08-13 03:00 PM Jun $-0.6B $-0.6B $ -0.5B
2020-09-17 03:00 PM Jul $-1.1B $-0.6B $-1B
2020-10-16 03:00 PM Aug $-1.0B $-1.1B $-1.5B
2020-11-13 03:00 PM Sep $-1.0B $ -0.5B
2020-12-18 03:00 PM Oct


News Stream
Colombia Trade Gap Narrows in August
Colombia's trade deficit narrowed to USD 1.0 billion in August 2020 from USD 1.65 billion in the same month of the previous year. Imports slumped 27.3 percent over a year earlier to USD 3.57 billion, due to lower purchases of manufactured products (-22.2 percent), of which machinery & transport equipment (-21.5 percent); fuels & extractive industry products (-67.1 percent), namely petroleum products & related (-73.7 percent); and agricultural products, food & beverages (-19.1 percent), in particular food products & live animals (-17.3 percent). Exports dropped at a softer 21.3 percent to USD 2.57 billion, as sales declined for fuels & mining products (-35.8 percent), mostly oil & oil products (-38.8 percent); manufacturing goods (-17.2 percent), of which manufactured articles, classified mainly according to material (-29.7 percent); and agricultural goods, food & beverages (-7.1 percent), mainly flowers (-27.4 percent).
2020-10-16
Colombia Trade Deficit Narrows in July
Colombia's trade deficit narrowed to USD 1.09 billion in July 2020 from USD 1.31 billion in the corresponding month of the previous year. Imports tumbled 20.8 percent year-on-year to USD 3.64 billion, due to lower purchases of manufactured products (-17.3 percent), namely machinery & transport equipment (-22.6 percent); and fuels & extractive industry products (-58.9 percent), in particular petroleum products & related (-67.9 percent); and agricultural products, food & beverages (-7 percent), of which inedible raw materials, except fuels (-44.4 percent). Exports declined 21.7 percent to USD 2.55 billion in July 2020, as sales fell for fuels & mining products (-44.8 percent), mostly oil & oil products (-50.9 percent); and manufacturing goods (-21.4 percent), namely machinery & transport equipment (-38.7 percent).
2020-09-17
Colombia Posts Smallest Trade Deficit in Nearly 2 Years
Colombia's trade deficit narrowed to USD 0.62 billion in June 2020 from USD 0.94 billion in the same month of the previous year. It was the smallest trade gap since September 2018, amid the coronavirus pandemic. Imports slumped 27.2 percent year-on-year to USD 2.89 billion, due to lower purchases of manufactured products (-25 percent), in particular machinery & transport equipment (-31.8 percent); and fuels & extractive industry products (-76.9 percent), namely petroleum products & related (-86.9 percent). Exports dropped 26.4 percent to USD 2.28 billion, as sales declined for fuels & mining products (-50 percent), of which oil & oil products (-62.3 percent); and manufacturing goods (-4.3 percent), mostly chemical products (-17.8 percent).
2020-08-13
Colombia Posts Smallest Trade Gap in Nearly 2 Years
Colombia's trade deficit narrowed to USD 0.64 billion in May 2020 from USD 1.04 billion in the corresponding month of the previous year. It was the smallest trade gap since September 2018, amid the coronavirus pandemic. Imports slumped 39.9 percent over a year earlier to an over ten-year low of USD 2.88 billion, due to lower purchases of manufactured products (-42 percent), of which machinery & transport equipment (-55%); fuels & extractive industry products (-64.2%), in particular petroleum products & related (-70.8%); and agricultural products, food & beverages (-8.1%), namely food products & live animals (-8.4%). Exports plunged 40.3 percent to USD 2.24 billion, as sales dropped for fuels & mining products (-56.7%), mostly oil & oil products (-61.1%); manufacturing goods (-38.4%), in particular transport machinery & equipment (-61.9%); and agricultural goods, food & beverages (-11.7%), of which bananas (-35.4%).
2020-07-17

Colombia Balance of Trade
Colombia is a major exporter of oil and coal (59 percent of total exports). Other exports include: chemicals and related products (5.1 percent) and gold (5 percent). Main imports are: machinery and transport equipment (39 percent of total imports); manufactured products (22 percent); chemicals (17 percent) and fuel and mineral lubricants (10 percent) Main trading partners are: United States (36 percent of total exports and 39 percent of imports) and China (6 percent of exports and 16 percent of imports). Others include: Mexico, Spain and Venezuela.