Imports to Colombia slumped 39.9 percent over a year earlier to an over ten-year low of USD 2.88 billion in May 2020, following a 31.6 percent plunge in the previous month, amid the coronavirus pandemic. Imports dropped mainly for manufactured products (-42 percent), of which machinery & transport equipment (-55 percent); fuels & extractive industry products (-64.2 percent), in particular petroleum products & related (-70.8 percent); and agricultural products, food & beverages (-8.1 percent), namely food products & live animals (-8.4 percent). The most important import partners were: the US (26.3 percent of total imports), China (23.4 percent), Brazil (4.8 percent), Mexico (4.2 percent) and Germany (4 percent).
Imports in Colombia averaged 1.87 USD Billion from 1980 until 2019, reaching an all time high of 6.08 USD Billion in July of 2014 and a record low of 0.28 USD Billion in February of 1986. This page provides the latest reported value for - Colombia Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Colombia Imports - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Dane, Colombia
Imports in Colombia is expected to be 3.40 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Colombia to stand at 4.00 in 12 months time. In the long-term, the Colombia Imports is projected to trend around 4.50 USD Billion in 2021 and 4.70 USD Billion in 2022, according to our econometric models.