Exports from Colombia fell 14.6 percent year-on-year to USD 3.40 billion in December 2018, following a downwardly revised 7.8 percent gain in November. Sales dropped for fuels & mining products (-23.5 percent from 19.5 percent in November), namely coal, coke & briquettes (-39.8 percent), and petroleum & petroleum products (-10.1 percent). Meanwhile, exports rebounded for manufactured products (0.8 percent from -7.7 percent), mostly due to manufactured articles classified by material (12.2 percent); and agricultural goods, food and beverages (1.7 percent from -3.5 percent), of which unroasted coffee, decaffeinated or not, skin & coffee husks (6 percent). In December, Colombia sold 20.0 million barrels of oil, a 1.1 percent decrease compared to December 2017. The most important export partners were: the US (24.3 percent of total exports), China (12.4 percent), Panama (6.6 percent) and Turkey (5.1 percent). Considering 2018 as a whole, exports went up 10.4 percent over a year earlier. Exports in Colombia averaged 1.07 USD Billion from 1958 until 2018, reaching an all time high of 5.71 USD Billion in March of 2012 and a record low of 0.02 USD Billion in December of 1963.
Exports in Colombia is expected to be 3.60 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Colombia to stand at 4.50 in 12 months time. In the long-term, the Colombia Exports is projected to trend around 4.70 USD Billion in 2020, according to our econometric models.