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.

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Colombia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1.20 -0.95 0.81 -1.97 1980 - 2020 USD Billion Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-17 03:00 PM Dec $-0.7B $-1.8B $ -1.5B
2020-03-19 03:00 PM Jan $-0.9B $-0.7B $-1.2B
2020-04-21 03:00 PM Feb $-0.9B $-0.9B $-1.1B
2020-05-14 03:00 PM Mar $-1.2B $-0.9B $ -0.7B
2020-06-19 03:00 PM Apr $-1.2B
2020-07-20 03:00 PM May
2020-08-14 03:00 PM Jun $ -0.9B
2020-09-18 03:00 PM Jul


News Stream
Colombia Trade Gap Widens in March
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.
2020-05-14
Colombia Trade Deficit Widens in February
Colombia's trade deficit widened to USD 0.95 billion in February 2020 from USD 0.77 billion in the same month of the previous year. Exports fell 5.2 percent year-on-year to USD 3.02 billion in February 2020, mainly due to lower sales of fuels & mining products (-10.6 percent), namely chemical products (-15.8 percent) and fuels and extractive industry products (-9.3 percent). Imports rose 0.4 percent to USD 3.97 billion, driven by higher purchases of agricultural products, food & beverages (11.7 percent), in particular food products & live animals (17.2 percent); and fuels & mining products (8.2 percent), of which petroleum products & related (5.6 percent).
2020-04-21
Colombia Trade Deficit Narrows in January
Colombia's trade deficit narrowed to USD 0.90 billion in January 2020 from USD 1.24 billion in the corresponding month of the previous year. Exports rose 11.7 percent from a year earlier to USD 3.42 billion, boosted by sales of fuels & mining products (27.2 percent), namely coal, coke and briquettes (81.1 percent); and agricultural goods, food & beverages (5.4 percent), led by bananas (38.8 percent). Imports increased at a softer 0.6 percent to USD 4.33 billion, driven by higher purchases of manufactured goods (0.2 percent), of which machinery & transport equipment (3.7 percent); and agricultural products, food & beverages (-3.5 percent), mostly food products & live animals (14.6 percent).
2020-03-19
Colombia Trade Gap Narrows Slightly in December
Colombia's trade deficit narrowed to USD 0.74 billion in December 2019 from USD 0.78 billion in the same month of the previous year. Exports fell 1.9 percent from a year earlier to USD 3.34 billion, due to lower sales of fuels & mining products (-11.1 percent), in particular coal, coke and briquettes (-41.5 percent). Imports dropped at a faster 2.5 percent to USD 4.08 billion, mostly due to purchases of fuels & mining products (-23.6 percent), namely petroleum products & related (-30 percent); agricultural products, food & beverages (-3.5 percent), of which raw inedible materials (-29.3 percent); and other sectors (-4.6 percent). Considering full 2019, the country’s trade gap widened to USD 13.27 billion from USD 9.33 billion in 2018.
2020-02-17

Colombia Balance of Trade
Colombia is a major exporter of oil and coal (59 percent of total exports). Other exports include: chemicals and related products (5.1 percent) and gold (5 percent). Main imports are: machinery and transport equipment (39 percent of total imports); manufactured products (22 percent); chemicals (17 percent) and fuel and mineral lubricants (10 percent) Main trading partners are: United States (36 percent of total exports and 39 percent of imports) and China (6 percent of exports and 16 percent of imports). Others include: Mexico, Spain and Venezuela.