Colombia Balance of Trade

Last Release

Jul 31, 2024

Actual

-0.96

Units In

USD Billion

-0.84

Frequency

Monthly

Next Release

Oct 21, 2024

Time to Release

30 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
0.81 Dec 2011	-2.7 Aug 2022	-0.32 USD Billion	1980-2024	N/A

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.

Latest Updates

Colombia's trade deficit widened to USD 0.963 billion in July 2024, up from USD 0.814 billion in the same month last year. The increase in the deficit was due to a 12.9% year-on-year surge in imports to USD 5.581 billion, outpacing the increase in exports. This increase was driven by higher imports of manufactured products (18.0%) and fuels and extractive industries (4.9%). Meanwhile, exports rose by 10.8% year-on-year to USD 4.618 billion, marking the second increase in the past nineteen months. This rise was largely due to higher exports from fuels and extractive industries (6.3%), with coal, coke, and briquette sales surging by 30.4%, while exports of manufactured goods (7.8%) and agricultural products and foods (13.9%) also increased.