Imports to Colombia rose 12.3 percent year-on-year to USD 4.48 billion in December of 2018, following a 12.3 percent gain in the previous month. Imports were mainly driven by higher purchases of manufactured products (15.3 percent), namely machinery and transport equipment (21.8 percent); agricultural products, food and beverages (12.3 percent), mostly food products and live animals (11.8 percent); and fuels and related products (19 percent) dropped 0.6 percent, of which petroleum products and related (24.3 percent). Meanwhile, imports of other sectors fell (-46 percent). Considering 2018 as a whole, imports went up 11.2 percent over a year earlier. 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.