Colombia's trade deficit narrowed to USD 0.96 billion in February of 2021 from USD 1.03 billion in the corresponding month of the previous year. Exports were unchanged over a year earlier at USD 2.94 billion, as lower sales of fuels & mining products (-12.9 percent) were offset by an increase in shipments of manufactured goods (14.4 percent), mainly chemical products (9.8 percent), and agricultural goods, food & beverages (8.0 percent), mostly unroasted coffee (7.5 percent) and beef (1.0 percent). Meantime, imports decreased 1.6 percent to USD 3.90 billion, due to a 24.2 percent plunge in fuels & mining products, while purchases increased among other groups of goods, mainly agricultural goods (5.2 percent) and manufactured products (0.1 percent). The largest import partners were China (24.8 percent of total imports), the US (24.3 percent), the EU (12.0 percent), Mexico (7.0 percent), and Brazil (5.0 percent). source: Dane, Colombia
Balance of Trade in Colombia averaged -0.23 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 -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 May of 2021.
Balance of Trade in Colombia is expected to be -1.40 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 -1.50 in 12 months time. 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.