Exports from Colombia increased 7.9 percent year-on-year to USD 3.35 billion in November of 2018, down from a 15.8 percent surge in the prior month. Shipments rose at a slower pace for fuels & mining products (19.8% vs 27% in October), mostly petroleum & petroleum products (34.6%). Meantime, external sales declined for manufactured products (-7.7% vs 4.7%), namely manufactured articles classified by material (-20.2%); and agricultural goods, food and beverages (-3.5% vs -0.6%), of which flowers (-12.4%). In November, Colombia sold 20.4 million barrels of oil, a 15.9 percent rise compared to the same month of 2017. Main export partners were: the US (22.6 percent of total exports), China (11.9 percent), Panama (11.7 percent) and Ecuador (6.5 percent). Considering the January to November period of 2018, exports grew 13.4 percent over a year ago. Exports in Colombia averaged 1.07 USD Billion from 1958 until 2018, reaching an all time high of 5.71 USD Billion in March of 2012 and a record low of 0.02 USD Billion in December of 1963.
Exports in Colombia is expected to be 3.60 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Colombia to stand at 4.50 in 12 months time. In the long-term, the Colombia Exports is projected to trend around 4.70 USD Billion in 2020, according to our econometric models.