Imports to Colombia increased 7.3 percent year-on-year to USD 4.91 billion in August 2019, following a 5 percent gain in July, driven by higher purchases of fuels & mining products (63.3 percent), of which crude oil (100.7 percent); agricultural products, food & beverages (16.6 percent), in particular food & live animals (28.1 percent); and other sectors (0.1 percent). On the other hand, purchases of manufactured goods dropped 0.1 percent, mostly due to manufactured products classified chiefly by material (-11.9 percent). Imports in Colombia averaged 1.85 USD Billion from 1980 until 2019, 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 4.20 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 4.60 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.