Colombia's trade deficit widened to USD 1.20 billion in March 2020 from USD 0.96 billion in the same month of the previous year, amid the coronavirus crisis. Exports 28.5 percent year-on-year to an over three-year low of USD 2.39 billion, as sales of fuels & mining products slumped 52 percent, mostly due to oil & oil products (-60 percent). Imports fell 16.6 percent to USD 3.59 billion, its lowest since January 2017, mostly due to manufactured products (-18.9 percent), namely machinery & transport equipment (-24 percent); and mining products (-23.6 percent), in particular petroleum products & related (-28.7 percent). Considering the first quarter of the year, the country’s trade gap increased to USD 3.05 billion from USD 2.96 billion in the corresponding period of 2019.
Balance of Trade in Colombia averaged -0.21 USD Billion from 1980 until 2020, 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 June of 2020. source: Dane, Colombia
Balance of Trade in Colombia is expected to be -0.90 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Colombia to stand at -0.70 in 12 months time. In the long-term, the Colombia Balance of Trade is projected to trend around 0.20 USD Billion in 2021, according to our econometric models.