Colombia’s trade deficit widened to USD 1.5 billion in July of 2021 from a USD 1.1 billion deficit in the corresponding month of 2020. Exports surged by 27.4 percent over a year to USD 3.3 billion, as outward shipments grew mostly for manufactured goods (42.4 percent), fuels and extraction industries (36.2 percent), and food, beverages, and agriculture (17.8 percent). Similarly, imports jumped 31.7 percent over a year ago to USD 4.8 billion, amid increases in extraction industries (44.2 percent), manufacturing (32.5 percent), and food, beverages, and agriculture (22.9 percent). The largest export partners were the US (28.6 percent), China (10.3 percent), and Ecuador (6.2 percent), while the largest import partners were the US (19.5 percent), Mexico (6.2 percent), and Brazil (4.9 percent). source: Dane, Colombia
Balance of Trade in Colombia averaged -0.24 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 October of 2021.
Balance of Trade in Colombia is expected to be -1.00 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.