Imports to Colombia rose 10.1 percent year-on-year to USD 4.30 billion in March 2019, following a 8.2 percent gain in the prior month. Imports increased mainly due to higher purchases of manufactured products (11.3 percent), namely machinery and transport equipment (20.2 percent), and chemicals (4.5 percent). Also, purchases of fuels and related products rose (2.8 percent), of which petroleum products and related (33.4 percent). On the other hand, sales declined for agricultural products, food and beverages (-8.1 percent), mainly food products and live animals (-6.7 percent) and other sectors (-56.3 percent). The most important import partners were: the US (26.4 percent of total imports), China (19.4 percent), Mexico (8.6 percent), Brazil (5.6 percent) and Germany (3.7 percent). Imports in Colombia averaged 1.81 USD Billion from 1980 until 2018, reaching an all time high of 6.08 USD Billion in July of 2014 and a record low of 0.28 USD Billion in February of 1986.
Imports in Colombia is expected to be 3.75 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Colombia to stand at 3.70 in 12 months time. In the long-term, the Colombia Imports is projected to trend around 4.50 USD Billion in 2020, according to our econometric models.