Colombia's trade deficit widened to USD 1.9 billion in November 2019 from USD 1.1 billion in the corresponding month of the previous year. It was the largest trade deficit since July 2015, as exports declined 13.6 percent from a year earlier to USD 2.89 billion, due to lower sales of fuels & mining products (-25.3 percent), namely petroleum, petroleum products & related (-22.5 percent); and manufactured products (-4.5 percent), of which chemicals (-15.3 percent). Meantime, imports increased 6.3 percent to USD 4.76 billion, boosted by higher purchases of manufactured goods (1.2 percent), in particular machinery & transport equipment (10.4 percent); agricultural products, food & beverages (2 percent), mainly food & live animals (11.4 percent); and fuels & mining products (61.9 percent), of which petroleum products & related (93.8 percent). Balance of Trade in Colombia averaged -0.20 USD Billion from 1980 until 2019, 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. source: Dane, Colombia

Balance of Trade in Colombia is expected to be -0.60 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 1.20 in 12 months time. In the long-term, the Colombia Balance of Trade is projected to trend around 0.20 USD Billion in 2020, according to our econometric models.


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Colombia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1.87 -1.01 0.81 -1.97 1980 - 2019 USD Billion Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-18 03:00 PM Aug $-1.6B $-1.3B $-1.4B
2019-11-14 03:00 PM Sep $-1.1B $-1.6B $-1.2B
2019-12-18 03:00 PM Oct $-1.0B $-1.1B $-1.3B
2020-01-21 03:00 PM Nov $-1.9B $-1.0B $-1.2B
2020-02-14 03:00 PM Dec $-1.9B $ -1.5B


News Stream
2019-12-18
Colombia Trade Gap Narrows in October
Colombia's trade deficit narrowed to USD 1.0 billion in October 2019 from USD 1.4 billion in the corresponding month of the previous year. Exports dropped 11.9 percent over a year earlier to USD 3.32 billion, as sales went down for fuels & mining products (-24.6 percent), dragged down by petroleum, petroleum products & related (-19 percent). Imports fell 16.1 percent to USD 4.33 billion, mostly due to lower purchases of manufactured goods (-15.3 percent), in particular machinery & transport equipment (-24.1 percent); agricultural products, food & beverages (-2.2 percent), namely food & live animals (-5.6 percent); and fuels & mining products (-43.2 percent), of which petroleum products & related (-45.3 percent).

2019-11-14
Colombia Trade Gap Widens in September
Colombia's trade deficit widened to USD 1.12 billion in September 2019 from USD 0.50 billion in the corresponding month of the previous year. Exports fell 12.3 percent over a year earlier to USD 3.08 billion, as sales dropped for fuels & mining products (-24 percent), dragged down by petroleum, petroleum products & related (-27.5 percent). Imports rose 3.8 percent to USD 4.20 billion, driven by higher purchases of agricultural products, food & beverages (13.6 percent); fuels & mining products (24.7 percent); and other sectors (76.7 percent).

2019-10-18
Colombia Posts Largest Trade Gap in Nearly 4 Years
Colombia's trade deficit widened to USD 1.65 billion in August 2019 from USD 0.90 billion in the corresponding month of the previous year. It was the largest trade gap since November 2015, as exports fell 11.6 percent over a year earlier to USD 3.26 billion, mostly due to lower sales of fuels & mining products (-21.3 percent), namely petroleum, petroleum products & related (-16.7 percent); and manufactured goods (-4.3 percent), of which chemical products (-9.9 percent). Meantime, imports increased 7.3 percent to USD 4.91 billion, driven by higher purchases of fuels & mining products (63.3 percent), in particular crude oil (100.7 percent); agricultural products, food & beverages (16.6 percent), led by food & live animals (28.1 percent); and other sectors (0.1 percent).

2019-09-18
Colombia Trade Gap Widens in July
Colombia's trade deficit widened to USD 1.29 billion in July 2019 from USD 0.72 billion in the corresponding month of 2018. Exports fell 9.9 percent over a year earlier to USD 3.27 billion, mainly due to lower sales of fuels & mining products (-19.1 percent), in particular coal, coke & briquettes (-36.7 percent). Meanwhile, sales went up for manufactured goods (5.6 percent); agricultural goods, food and beverages (3.2 percent); and other sectors (4.8 percent). Imports rose 5 percent to USD 4.57 billion, boosted by higher purchases of manufactured goods (3.2 percent), namely machinery & transport equipment (10.7 percent) and miscellaneous goods (5.7 percent); agricultural products, food and beverages (10.5 percent), due to food & live animals (19.1 percent); fuels and mining products (12.6 percent), of which petroleum, petroleum products & related (19 percent); and other sectors (22.5 percent).

2019-08-14
Colombia Trade Gap Little-Changed in June
Colombia's trade deficit rose slightly to USD 0.94 billion in June 2019 from USD 0.89 billion in the same month a year ago. Exports tumbled 8.7 percent year-on-year to USD 3.04 billion, the largest decrease since January, weighed down by fuels & mining products (-5.2 percent); manufactured goods (-13.1 percent); agricultural goods, food and beverages (-11.3 percent) and other sectors (-23.6 percent). Imports fell at a slower 5.7 percent to USD 3.98 billion in June 2019, the first decline since March 2018, due to lower purchases of manufactured goods (-5.4 percent); and agricultural products, food & beverages (-18.8 percent), in particular food & live animals (-14.7 percent) and oils & fats of vegetable origin (-24.7 percent). In contrast, those of fuels and related products grew 9.7 percent, namely petroleum products and related (16 percent).

2019-07-19
Colombia Trade Deficit Widens in May
Colombia’s trade gap widened to USD 1.02 billion in May 2019 from USD 0.83 billion in the same month of the previous year. Imports went up 6.1 percent year-on-year to USD 4.79 billion boosted by higher purchases of fuels and related products (40 percent), namely petroleum and related (50 percent); manufactured products (4.4 percent), of which vehicles (38.5 percent), other transport equipment (27.7 percent), clothing and footwear (36.6 percent), power generators machinery and equipment (18.1 percent), and professional and scientific devices (15.5 percent); and other sectors (41.3 percent). Exports increased 1.2 percent to USD 3.77 billion, mainly driven by sales of fuels & mining products (5.2 percent), in particular coal, coke and briquettes (30 percent); and agricultural goods, food and beverages (0.4 percent), mostly vegetables and fruits (28.7 percent) and animal and vegetable products (8.5 percent).


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.

Colombia Trade Last Previous Highest Lowest Unit
Balance of Trade -1.87 -1.01 0.81 -1.97 USD Billion [+]
Current Account -3917.00 -2887.00 364.00 -6452.00 USD Million [+]
Current Account to GDP -3.80 -3.30 4.10 -6.40 percent [+]
Imports 4.76 4.33 6.08 0.28 USD Billion [+]
Exports 2.89 3.32 5.71 0.02 USD Billion [+]
External Debt 137633.12 136184.39 137633.12 36431.04 USD Million [+]
Foreign Direct Investment 3330.18 4050.97 6776.22 197.17 USD Million [+]
Capital Flows -3219.49 -3273.06 359.83 -6193.64 USD Million [+]
Remittances 596.90 555.80 944.50 162.44 USD Million [+]
Gold Reserves 18.92 18.92 18.92 3.49 Tonnes [+]
Crude Oil Production 884.00 882.00 1035.00 356.00 BBL/D/1K [+]
Terms Of Trade 135.41 133.52 165.96 73.87 points [+]
Terrorism Index 5.91 5.61 7.16 5.58 [+]