Colombia's trade deficit rose to USD 1.11 billion in December of 2020 from USD 0.75 billion in the corresponding month of the previous year. Exports fell 9 percent over a year earlier to USD 3.03 billion, amid lower sales of fuels & mining products (-36.1 percent). The most important export partners were the US (29.2 percent of total sales), China (9.5 percent), Brazil (5.2 percent) and Ecuador (4.8 percent). Meanwhile, imports rose 1.6 percent to USD 4.14 billion, boosted by purchases of manufactured products (4.1 percent) and agricultural goods (14.6 percent). The most important import partners were China (24.9 percent of total imports), the US (19.6 percent), Brazil (7.4 percent) and Mexico (6.8 percent). source: Dane, Colombia
Balance of Trade in Colombia averaged -0.23 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 February of 2021.
Balance of Trade in Colombia is expected to be 1.20 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 0.20 in 12 months time. In the long-term, the Colombia Balance of Trade is projected to trend around 0.20 USD Billion in 2022 and -0.90 USD Billion in 2023, according to our econometric models.