Colombia Balance of Trade

Last Release

Aug 31, 2024

Actual

-1.69

Units In

USD Billion

-0.96

Frequency

Monthly

Next Release

Nov 16, 2024

Time to Release

24 Days 17 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 1.688 billion in August 2024, up from a USD 1.344 billion deficit in the same month last year. The increase in the deficit was due to increasing imports while exports declined. Imports to Colombia rose 4.6% year-on-year to USD 5.533 billion, marking the fourth increase in the last twenty-two months, driven by higher purchases of manufactured products (8.6%) and fuels and extractive industries (9.9%). Meanwhile, exports fell by 2.5% year-on-year to USD 3.845 billion, marking the eighteenth decrease in the past twenty months. This decline was primarily driven by a 14.4% drop in shipments from the fuels and extractive industries, with petroleum and derivative products falling by 10.1% and coal, coke, and briquette sales plummeting by 27.1%.